The Audit Connection Blog
Who's using FIT (Financial Intelligence Tool)?
On January 27, 2016, our Office published a follow-up to a report we issued last year on local government financial reporting. This year’s results show that our outreach efforts have contributed to a greater number of local governments filing their reports as required by law for fiscal year 2014. ... CONTINUE READING
Is your local government filing its annual financial report?
On January 27, 2016, our Office published a follow-up to a report we issued last year on local government financial reporting. This year’s results show that our outreach efforts have contributed to a greater number of local governments filing their reports as required by law for fiscal year 2014. ... CONTINUE READING
FIT data refreshed on January 1
The Financial Intelligence Tool (FIT) refreshes quarterly with data submitted by local governments. This most recent refresh added 23 more filers and brings the total local government data presented in FIT to 95 percent for fiscal year 2019. ... CONTINUE READING
Know what to look for to prevent cash receipting fraud
While cash transactions might be less frequent than those involving credit or debit cards, or have individual low dollar values, over time small daily losses can add up. According to the Association of Certified Fraud Examiners' (ACFE) 2016 Report to the Nations, the average median loss when cash was misappropriated ranged from $25,000 to $90,000. ... CONTINUE READING