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Tag Archives: Texas
Good Audit Evidence
As the nature of business and technology continues to advance, audits are also changing and developing. Auditors use professional judgment and professional skepticism to determine if evidence is sufficient and appropriate. Usually when you think of audit evidence, you may … read more
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Tagged aicpa, Arizona, audit, audit evidence, government, Kara Curtis, nonprofit, SAS, standards, Texas
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Deja Vu! – GASB 96
Many are currently working through the implementation of GASB 87, the new lease standard required to be implemented in fiscal year 2022. The net result of the standard is more lease agreements carried on the balance sheet, additional disclosures, and … read more
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Tagged Arizona, audit, Chris Goeman, Christopher Goeman, GASB, government, IT, San Antonio, SBITA, school district, subscription, technology, Texas
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Important Guidance on the State and Local Fiscal Recovery Funds Program
One thing we can all say is that the pandemic continues to have rippling effects on state, local, and tribal governments, many of whom are still struggling with the economic and public health impacts of COVID-19. In response, the American … read more
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Tagged American Rescue Plan Act, Arizona, ARPA, compliance, Conoravirus State and Local Fiscal Recovery Funds, COVID-19, Federal program, goverment, James Shankland, school district, SEFA, Single Audit, SLFRF, Texas
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Tips to Have Your Capital Asset Schedules Ready for Your Audit
Capital assets are usually a significant account balance on your financial statements. That means capital assets are material and your auditors will want to review your capital asset schedules to ensure your financial statements are free from material misstatements. It … read more
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Tagged accounting, Arizona, assets, audit, capital assets, Cristina Oropeza, government, inventory, nonprofit, school district, Texas
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What Will Audits and Financial Statements Look Like in 10 Years?
What will audits and financial statements look like in 10 years? Will auditors even be requesting supporting documentation directly from the auditee or will it all be obtained from third parties? Will financial statements still be in a flat PDF … read more
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Tagged Arizona, Corey Arvizu, CPA firm, data analytics, future of accounting, future of auditing, remote audit, Texas
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Preparing for Your First Single Audit
With a record amount of federal relief funding released recently, it is expected that thousands of nonprofits and local governments may be required to undergo their first single audit. Single Audit Requirements A non-federal entity expending $750,000 or more in … read more
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Tagged Arizona, audit, COVID, federal programs, financial report, government, Jill Shaw, nonprofit, NPO, school district, SEFA, Single Audit, Texas
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GASB Standards Update
The Governmental Accounting Standards Board (GASB) has been, seemingly, busier in recent years researching, deliberating, and issuing a number of standards that will take effect in coming years. While some relief was provided with the passage of GASB Statement No. … read more
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Tagged accounting, Arizona, fiduciary activities, financial statements, GASB, government, leases, Mike Hoerig, pronouncements, Texas
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