The Audit Connection Blog
COVID-19 Guidance Toolkit helps you navigate shifting reporting and accounting landscape
In keeping with our shared commitment to government transparency and accountability, the Office of the Washington State Auditor recently released our new COVID-19 Guidance Toolkit. ... CONTINUE READING
GASB delays implementation of new standards
In May, the Governmental Accounting Standards Board (GASB) voted to delay implementation of several new accounting standards. The decision by GASB took effect immediately, and came in response to requests by governments across the country grappling with the coronavirus pandemic. ... CONTINUE READING
How to prevent ACH and bank fraud
Automated Clearing House (ACH) frauds have been on the rise for a while, and we want to tell you some simple steps you can take to properly verify ACH and payroll bank account changes before making changes. ... CONTINUE READING
SAO hourly billing rate remains the same
Last year, our goal was to maintain the local audit hourly billing rate for two years, through 2021. Although we did not plan for the fiscal challenges of a pandemic, we have determined that, by changing some of our operations and making internal cost adjustments, we will be able to meet our goal and leave the rate unchanged from 2020. However, if any unforeseen significant costs (i.e., COVID-19 or legislative funding changes) occur that we cannot adjust for, a billing adjustment may be necessary. ... CONTINUE READING
FIT’s indicators can strengthen any financial planning effort
The Financial Intelligence Tool’s (FIT) financial health indicators provide “retrospective” measures of financial health based on historic data. However, any government can use these measures to help plan for the future. ... CONTINUE READING
FIT adds profiles to explore any of Washington’s 40-plus government types
Our Financial Intelligence Tool (FIT) has long offered a way for users to examine data on specific governments, government types, and specific revenue or expenditure streams. For the first time, FIT has a way to view all important information on a specific government type in one place, using new government-type profiles. ... CONTINUE READING
Perform a credit card clean up to reduce your risk for fraud and mismanagement
While credit cards have many benefits, they also create an increased risk for misuse, mismanagement and fraud. That’s why SAO recommends periodically performing a credit card cleanup to keep your program running efficiently and securely. ... CONTINUE READING
Join us online at the WFOA 2020 Virtual Conference
The 2020 Washington Finance Officers Association Conference will be conducted virtually and take place September 23 and 24. A mix of live and pre-recorded sessions will be available for you to join remotely. ... CONTINUE READING
Lean leadership: Are you ‘leading’ or ‘doing’ the work?
Some might call leading “staying in your lane” or “playing your position.” Another way to think of it is simply doing the job the organization hired one to perform. A leader must “lead” even when it seems more difficult and risky to give up control. Determining how to make the transition from a great worker to a better leader can pose a difficult challenge. ... CONTINUE READING
Communicating and working together lead to successful audits in a remote environment
The Office of the Washington State Auditor made the move to remote auditing in March, and overall we have found the transition to be successful and sustainable for the foreseeable future. However, we have noticed that audits sometimes take a little longer in this environment. In adapting to auditing in a remote environment, flexibility and robust communication have been key to performing timely audits. ... CONTINUE READING