The Audit Connection Blog
Protect your government from credit card fraud
The COVID-19 pandemic has likely forever changed how we purchase goods and services—at home and at work. E-commerce and contactless payment options have become the norm, and many governments have transitioned to using credit cards for the majority of purchases and for receiving payments. But as more online transactions occur, fraudsters also have more opportunities to steal credit card information. And judging from loss reports to the State Auditor's Office, the fraudsters are finding success in their schemes. ... CONTINUE READING
Board members have a role to play in fighting fraud
Electeds and boards are responsible for ensuring management has designed and put in place effective controls to manage fraud risk. In this article, we examine the role of electeds and boards – shorthanded throughout as “boards” – in preventing fraud, and offer tips to implement customized policies and best practices. ... CONTINUE READING
City of Wapato’s operations continue to struggle, recent audits show
While the city of Wapato’s financial safeguards have improved somewhat since the city’s last audits, the Office of the Washington State Auditor found significant weaknesses in two audits released today. ... CONTINUE READING
Fraud trends and emerging risks in a post-pandemic work environment
With International Fraud Awareness Week kicking off on Nov. 14, now is a great time to look back at how the COVID-19 pandemic affected the level of fraud in the workplace and understand the roadblocks to preventing and detecting fraud in a post-pandemic work environment. ... CONTINUE READING
Find ways to improve your accounts payable process with our new guide
The Center for Government Innovation at the State Auditor’s Office is excited to announce our new Accounts Payable Guide for local governments. Use this guide to find ways to improve your operations and discover best practices. ... CONTINUE READING
Is it time to review your deposit practices?
When was the last time you reviewed and updated your deposit process? Deposits become so routine that it is easy to forget that your internal controls might need adjusting as your financial activity changes over time. On top of that, there are new options and technology for deposits that can help you strengthen your security measures. SAO offers a few tips and resources to help get you started. ... CONTINUE READING
Good news on pension funding might mean changes for government financial reporting. SAO has guidance on how to report it
Since reporting a net pension asset can be cumbersome and complex for governments that haven’t had to do this previously, the pension experts at the State Auditor’s Office have compiled some guidance on how to report it in your financial statements. This article identifies which pension plans are reporting a net pension asset and explains how to report your restricted net position and a negative pension expense. ... CONTINUE READING
Are you converting to a new financial system? Follow SAO’s tips for a successful implementation
You’ve decided the time has come to upgrade your cash receipting system or billing system, or even to install a new financial management system, but where do you start? How do you ensure implementation goes to plan? SAO's new resource covers best practices before and after you go live with new financial or accounting software. ... CONTINUE READING
Keep software current to reduce cybersecurity risk
If you’re a smaller government without your own full-time information technology staff, you might find it challenging to stay on top of IT-related maintenance. Larger entities have entire departments dedicated to maintaining computer infrastructure, while you may be working with a part-time contractor or even volunteers to meet your IT needs. And that’s okay, but remember: having the latest security software, web browser and operating system on your devices is an important defense against cyberattacks. ... CONTINUE READING
People are looking at your FIT data—are you?
Your government’s data is in FIT, and it’s available to the public. Continue reading to learn who is looking at your data and why it’s in every local government’s the best interest to check it for accuracy. ... CONTINUE READING