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- Physical Inventory Considerations
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Tag Archives: government
Employee or Independent Contractor?
How do you know if someone working for your organization is an employee or an independent contractor? As individuals may perform duties for your organization as either independent contractors or employees, it is crucial to make the correct classification from … read more
Posted in Articles
Tagged DOL, employee, government, hiring, HR, human resources, independent contractor, Melanie Askew, nonprofit, payroll, school district, wage and hour
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A Perfect Audit
Is it possible? Does such a thing as a perfect audit exist? What defines a perfect audit for you? If I had to write a definition, based on many years of performing audits and talking with clients, I believe most … read more
Posted in Articles
Tagged audit, findings, GAS, government, internal control, nonprofit, Single Audit, weakness, Yellow Book
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Behind the Scenes – An Overview of the Single Audit Process
If your organization has ever undergone a single audit before, then you know that the process is extensive. A single audit adds additional time and cost to an organization’s existing financial audit. However, organizations who understand the single audit process … read more
Posted in Articles
Tagged auditing, federal programs, government, nonprofit, NPO, SEFA, Shauna Brewster, Single Audit, uniform guidance
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GASB Statement No. 88 – Required Updates to Debt Footnote Disclosures
Is your government ready to implement potential changes to your debt footnote disclosures? For fiscal years beginning after June 15, 2018, Governmental Accounting Standards Board number 88 is applicable. This pronouncement requires the disclosure of additional essential debt-related information for … read more
Posted in Articles
Tagged debt, debt service, disclosures, financial statements, GASB, government, Joshua Jumper
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Application of Benford’s Law in Audits
by Marie Hoie, Data Analyst
Posted in Videos
Tagged auditing, data analytics, government, nonprofits, NPO
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Common SEFA Errors and How to Avoid these Hazards
What is the Schedule of Expenditures of Federal Awards (SEFA)? Oh yeah, it’s one of those documents my auditors are always asking about. Although it might seem like just another part of the audit preparation, the SEFA serves several very … read more
Posted in Articles
Tagged federal programs, financial report, government, grants, Michael Lauzon, nonprofit, Single Audit
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GASB Statement No. 75 – What Basics Do I Need To Know?
First, some general information. GASB Statement No. 75 (Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions) is accompanied by GASB Statement No. 74 (Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans); GASB Statement No. 74 relates … read more
Posted in Articles
Tagged accounting, Christopher Heinfeld, financial statements, GASB, government, OPEB, postemployment benefits
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