Editor’s note: On April 21, 2020, the Financial Accounting Standards Board (FASB) proposed an optional, one-year implementation delay for certain private companies and nonprofits, as a result of the COVID-19…
Pension Reporting Changes Ahead for State and Local Governments
Pensions, post-employment benefits and other government funds must soon be reported under a new fiduciary activity standard, according to the Governmental Accounting Standards Board (GASB). In June 2017, GASB issued…
Ensure the Integrity of Your Governmental Audit with These Contract Tips
Standardized language and contract templates help public sector entities or government-funded nonprofits streamline their procurement processes. When it comes to contracting a third-party auditing firm for required assurance services, however,…
My Company Got an Unclaimed Property Letter from PA – Now What?
Has your organization received letters from the Pennsylvania Treasury requesting remittal of unclaimed property? Since changes to the Commonwealth’s Unclaimed Property Act took effect in September 2016, state officials have…
The Assurance Tool That Boosts Prospects for Lenders and Borrowers
Once upon a time, financial statement audits were a significant requirement within the lending process. Thanks to the thorough audit process and resulting third-party validation of a borrower’s financial information,…
