Committee on Accounting, Auditing and Financial Reporting
BEST PRACTICES A GFOA best practice identifies specific policies and procedures as contributing to improved government management. It aims to promote and facilitate positive change rather than merely to codify current accepted practice. Partial implementation is encouraged as progress toward a recognized goal.
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- Encouraging and Facilitating the Reporting of Fraud and Questionable Accounting and Auditing Practices (2007)
- Enhancing Management Involvement with Internal Control (2004, 2008)
- Ensuring Adequate Documentation of Costs to Support Claims for Disaster Recovery Assistance (2008)
- Ensuring Control over Noncapitalized Items (2005)
- Establishing Appropriate Capitalization Thresholds for Tangible Capital Assets (1997, 2001, updated 2006)
- Establishing the Estimated Useful Lives of Capital Assets (2002 and 2007)
- Establishment of an Internal Audit Function (1997, updated 2006)
- Governmental Accounting, Auditing, and Financial Reporting Practices (1983, 1997, updated 2006)
- Including Management's Discussion and Analysis in Departmental Reports (2004)
- Improving the Effectiveness of Fund Accounting (2004 and 2012)
- Improving the Timeliness of Financial Reports (2008)
- Mitigating the Negative Effects of Statement on Auditing Standards No. 112 (2007)
- Practical Steps to Avoid, Limit or Eliminate Internal Control Deficiencies Identified in an Audit (2007 and 2011)
- Preparing Popular Reports (1991, 1996, 2001, updated 2006)
- Presenting Budget to Actual Comparisons Within the Basic Financial Statements (2000)
- Replenishing Fund Balance in the General Fund (2011) (Budget and CAAFR)
- Technology Disaster Recovery Planning (1999 and 2007)
- The Need for Periodic Inventories of Tangible Capital Assets (1997, 2001, 2006)
- The Use of Trend Data and Comparative Data for Financial Analysis (2003)
- Using the Comprehensive Annual Financial Report to Meet SEC Requirements for Periodic Disclosure (1996, updated 2006)
- Using Websites to Improve Access to Budget Documents and Financial Reports (2003)
- Web Site Presentation of Official Financial Documents (2009)
ADVISORIES
A GFOA advisory identifies specific policies and procedures necessary to minimize a government’s exposure to potential loss in connection with its financial management activities. It is not to be interpreted as GFOA sanctioning the underlying activity that gives rise to the exposure.
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