The Audit Connection Blog
Keeping up with the GASB
Does it seem like there’s always some new accounting standard that needs to be implemented? That’s because there is! The Governmental Accounting Standards Board (GASB) issues an average of three new accounting standards a year. ... CONTINUE READING
Our Office Provides Resources for Capital Assets Accounting
Accounting for capital assets is an area of difficulty for many governments. General purpose governments have been reporting infrastructure assets for more than a decade because of Governmental Accounting Standard’s Board (GASB) Statement No. 34. ... CONTINUE READING
Web Page to Help Governments Implement Other Postemployment Benefits (OPEB) Update
The State Auditor’s Office has established a new OPEB web page to help local governments understand and implement GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, effective for fiscal years ending in 2018. ... CONTINUE READING
BARS roundtable sessions scheduled
We are offering the BARS Roundtable Sessions again this fall. The roundtable discussions are free, three-hour feedback opportunities open to all local governments. Past attendance included more than 400 local government representatives the last two years. ... CONTINUE READING
Auditor’s Office announces increase in hourly billing rate
This week, our Office notified local governments across Washington of a modest adjustment to our hourly billing rate that begins next year. ... CONTINUE READING
Positive Pay can help protect your organization from check fraud
Check fraud is a common financial crime here in Washington and nationwide. According to the American Bankers Association, check fraud accounted for 32 percent of the banking industry’s losses in 2015. ... CONTINUE READING
Repost from MRSC: Big Cybersecurity for Small Jurisdictions
From our friends at MRSC: Mike Kaser, IS Director for the City of Mercer Island, weighs in on protecting local governments from cyber attack. You can read the original here. ... CONTINUE READING
Make sure to meet requirements when purchasing using 'piggybacking' method
“Piggybacking” refers to one local government making purchases from contracts awarded by another government or group of governments via an interlocal agreement or contract. ... CONTINUE READING
Other post-employment benefits (OPEB) update
We’re already halfway through 2017, and 2018 is quickly approaching! GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, is effective for fiscal years ending in 2018. ... CONTINUE READING
GASB issues guidance on asset retirement obligations
The Government Accounting Standards Board (GASB) recently issued a new standard, GASB Statement 83, to provide accounting guidance on asset retirement obligations (AROs). ... CONTINUE READING