Category Archives: Government and Not-for-Profit
Under AU-C section 240, Consideration of Fraud in a Financial Statement Audit, the auditor is required to evaluate whether information obtained from risk assessment procedures and related activities performed indicates that one or more fraud risk factors are present. Management should also be looking for and responding to the presence of accounting fraud risk factors. […]
For fiscal years beginning after June 15, 2017, state and local governments will be implementing GASB No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. While postemployment benefits other than pensions are seldom seen in the private sector today, the majority of state and local governments across the country still provide other postemployment […]
