¶ … GASB No.34's government financial reporting model: Evidence on its information relevance, published in The Accounting Review. This article looks at a government accounting regulation, GASB No. 34, which requires lower level governments to provide "consolidated, government-wide financial statements.," which of course will require reconciliation between the different entities and the overall government financial statements. The authors examine this regulation from the perspective of its main objective, which is to provide better quality information to stakeholders about government budgets, both on an organization level but also on a government-wide level. This rule was passed in the interest of improving transparency, thus the authors sought to test the rule's effectiveness at providing information relevant to assessing a government's default risk. The authors argue that this is the case. The null hypothesis is that GASB No. 34 would be found to have improved information quality, and that it did so. They found that the gains were incremental, however, to that provided by government funds statements. Thus, while information quality increased, it did not increase by that much. The authors further found that the financial performance of government entities was typically related to the accrual of working capital, as opposed...
It is important for regulators as well because they can understand better if their regulations are having the intended effect, with respect to improving the quality of information regarding government financial statements.
awarding audit contracts by U.S. government departments and agencies Audit Management Red Rationale for and Objectives of the project main and secondary Desktop or literature search Rationale for Search Methodology LITERATURE/DESKTOP RESEARCH Authoritative sources Desktop Findings Justification for audits Evolving role of auditors Types of audit contracts Understanding the Audit Process Best practices and benchmarking Terminology Case Studies Audit management is a fundamental element in government accountability, control and performance management. Certainly there is justification within the Federal government to conduct audits of contracts for the
This implies a comparison of the results of the internal and external audits. Additionally, aside results and documents consulted, it is also necessary to assess the various variables used in the evaluations. It is for instance possible for the company to alter the findings by focusing on more favorable variables. As a specific example, a financial audit could reveal increased organizational abilities to honor company debts, but this conclusion could
Kudler's System integrity Validation Describe selected computer assisted auditing techniques validate data system integrity system. Explain functions audit productivity software. Explain audit productivity software systems designed Kudler's system integrity validation The essay gives a detailed information on how computer assisted auditing technique can be used in the validation of data and system integrity within an accounting information system, the functions of audit productivity and an account of the audit productivity software used
Offshore tax evasion is one of the major issues that has faced Internal Revenue Service (IRS) in the United States. This issue has had considerable negative impacts on economic growth and development of the United States with respect to taxation. The existence of multiple tax havens in Switzerland has facilitated massive tax evasion by the super-rich and companies. One of the most commonly used measures for tax avoidance or evasion
SWOT analysis is Merrythought's four core business areas including human resource, finance, operations, and marketing, by looking at the strengths, weaknesses, opportunities, and threats. These are indicated in the table below. Marketing Operations Finance Human Resource Strengths Merrythought is an established and recognized name in the UK, Established brand as quintessential English teddy bear, Strong local market from departmental stores and independent retailers, Niche market from up-market client base, Half of their consumers are collectors who pay premium for teddy
The fact that the country's huge social instability and unemployment rate is somewhat alleviated by counterfeiting also encourages the police to ignore the problem. Pfizer adopted a 4-prod approach to their problem - and this is actually a recommendation for all companies to adopt as means of problem-resolution: the problem was delineated Investigation was conducted into the extent of the problem Plans were brainstorming A specific plan was adopted and implements. Their first step was
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