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Accounting, Auditing and Financial Reporting Articles

 

Articles from the Government Finance Review 

  • February 2008
    • OPEB in Perspective: GASB Statement No. 45 Four Years Later

      (3.4K PDF) 

      Other postemployment benefits have been a thorn in the side of many governments since the overnmental Accounting Standards Board issued Statement No. 45; now is the time to make some of the tough decisions.

      Stephen J. Gauthier


  • June 2007
    • Interpreting Local Government Financial Statements
      (PDF 2.9 K)
      Users of local government financial statements typically approach a government’s finances from three different but complementary perspectives: near-term financing situation, financial position, and economic condition. This article outlines where to find the information in a government’s financial report for each of those perspectives.
      Stephen J. Gauthier

  • April 2007
    • A New Vision for Public Audit Committees 

      (PDF 2.8K)

      In this era of incrreased emphasis on accountability, it is important to determine, document, and formally approve both the responsibilities and authority of your audit committee.

      Stephen J. Gauthier


  • February 2006
    • Understanding Internal Control 

      (PDF- 930k)
      Understanding Internal Control Awareness of management’s responsibility for internal control has been heightened of late by private sector developments such as the federal Sarbanes-Oxley legislation. To fulfill its internal control responsibilities, management must first understand the nature and importance of internal controls as outlined by the Committee on Sponsoring Organizations.
      Stephen J. Gauthier


  • December 2005
    • Funding OPEB Liabilities: What Are Your Options?

      (PDF- 2.8M)
      As governments prepare to implement the new GASB requirements on accounting and financial reporting for other postemployment benefits, some will face significant liabilities. This article presents several strategies for managing OPEB costs, from advance funding to OPEB obligation bonds to changes in the actual benefits plan.
      Parry Young


  • April 2005
    • Making the Most of the New Blue Book

      (PDF)
      The 2005 edition of Governmental Accounting, Auditing, and Financial Reporting marks the eighth substantial revision in a series that now extends almost 70 years. Learn what has changed since the 2001 edition and why the Blue Book is still the ultimate training tool and technical resource on governmental accounting.
      Gregory S. Allison


  • October 2002
    • Taking Stock of Auditor Independence
      Finance officers can take a number of actions to maintain independence from external auditors and thereby strengthen public confidence in the fair presentation of government financial statements.
      Andrea Daroca and Frank P. Daroca

  • August 2001
    • What To Do When the IRS Audits Your Bonds

      (PDF 120 Kb)

      Under the IRS's expanded enforcement program, it is much more likely today that a city, county, or special purpose district's bond issues will receive a notice of audit than in the past. As a result, issuers must be prepared to respond to an audit by having a basic understanding of the audit process. This article provides issuers with information on their rights and appeal procedures during the audit process.
      Mitch Rapaport and J. Ben Watkins, III