Nicht aus der Schweiz? Besuchen Sie lehmanns.de
Für diesen Artikel ist leider kein Bild verfügbar.

Audit and Accounting Guide – State and Local Governments 2019

(Autor)

Buch | Softcover
976 Seiten
2019
John Wiley & Sons Inc (Verlag)
978-1-948306-64-5 (ISBN)
CHF 226,95 inkl. MwSt
  • Titel ist leider vergriffen;
    keine Neuauflage
  • Artikel merken
State and local government audit and accounting is changing rapidly. This title features insights, comparisons, and best practices for some of the more complex areas such as pensions and post-employment benefits other than pensions (OPEB), this authoritative guide provides complete coverage of audit and accounting considerations critical for both preparers and auditors.

This edition includes dual guidance for accountants and auditors early implementing GASB Statement No. 84, Fiduciary Activities. Topics covered also include:  

•           Financial reporting and the financial reporting entity

•           Revenue and expense recognition

•           Capital asset accounting

•           The elements of net position

•           Accounting for fair value

•           Municipal securities offerings

•           Tax abatements

Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards. The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.

1 Overview and Introduction .01-.24

Scope and Purpose .01-.08

GAAP for State and Local Governments .09-.14

Applicable Auditing Standards and Requirements .15-.20

Guidance in Other AICPA Audit and Accounting Guides and Statements of Position .21-.22

Other Sources of Guidance .23

Organization of This Guide .24

2 Financial Reporting .01-.97

Introduction and Overview .01-.06

Historical Perspective .02-.06

Governmental Financial Statements .07-.53

Management’s Discussion and Analysis .09-.10

Government-Wide Financial Statements .11-.25

Fund Financial Statements .26-.44

Notes to the Financial Statements .45-.48

Required Supplementary Information Other Than MD&A .49-.52

Special-Purpose Governments .53

Other Financial Reporting Issues .54-.59

Other Information and Supplementary Information .54

Prior-Period Comparative Financial Information .55-.56

Government Combinations and Disposals of Government Operations .57-.59

Fair Value Measurement .60-.85

General Principles of Fair Value .61-.68

Valuation Techniques .69-.71

Inputs to Valuation Techniques .72-.75

Fair Value Hierarchy .76-.79

Guidance for Fair Value Measurement in Special Circumstances .80-.85

Auditing Considerations .86-.96

Compliance Requirements .87

Fund and Activity Classifications .88

Major Funds .89

Restricted Assets .90

Notes to the Financial Statements .91-.92

Required Supplementary Information, Supplementary Information, and Other Information .93-.94

Other Financial Reporting Considerations .95

Accounting and Financial Reporting Alternatives .96

Appendix A — Accounting and Financial Reporting Alternatives in GASB Statement No. 34, as Amended, and GASB Statement No. 84 .97

3 The Financial Reporting Entity .01-.39

Introduction .01-.03

GASB’s Financial Reporting Entity Standards .04-.29

Definition of the Financial Reporting Entity .05-.12

Financial Statement Presentation .13-.22

Disclosures .23-.25

Other Financial Reporting Requirements .26-.29

Auditing Considerations .30-.39

Reporting Entity .30

Internal Control Over Financial Reporting .31

Audit Procedures .32-.33

Separate Component Unit Auditor .34

Presentation of Less Than a Complete Financial Reporting Entity .35

Departures of Component Unit Information From GAAP .36

Nongovernmental Component Unit Use of Private-Sector Standards .37

Changes in the Financial Reporting Entity .38

Other Component Unit Auditing Considerations .39

4 General Auditing Considerations .01-.138

Introduction .01-.02

General Principles and Responsibilities .03-.29

Overall Objectives .03

Terms of Engagement .04-.08

Laws and Regulations .09-.22

Auditor’s Communication with Those Charged with Governance .23-.27

Communicating Internal Control Related Matters .28-.29

Auditor’s Risk Assessment and Response to Assessed Audit Risk .30-.66

Planning an Audit .30-.34

Audit Strategy .35-.40

Understanding the Entity, Its Environment, and Its Internal Control .41-.66

Materiality in Planning and Performing an Audit .67-.93

GASB Guidance to Preparers on Materiality Determinations .69-.70

Auditor Materiality Determinations .71-.87

Performing Further Audit Procedures .88-.93

Related Parties and Transactions .94

Group Audit Engagements .95-.121

Other Audit Considerations .122-.127

Subcontracting Arrangements .122

Independence Requirements .123-.127

Required Supplementary Information, Supplementary Information, and Other Information .128-.137

Audit Scope Includes Required Supplementary Information or Supplementary Information .131-.132

Required Supplementary Information .133

Supplementary Information .134-.136

Other Information .137

Appendix A — Consideration of Fraud in a Financial Statement Audit .138

5 Investments, Certain Equity Interests, and Derivatives .01-.131

Part I — Accounting, Financial Reporting, and Auditing Considerations for Investments and Certain Equity Interests .04-.05

Nature of Transactions .06-.17

Compliance Requirements and Deposit and Investment Policies .06-.10

Deposit and Investment Risk .11

Internal Investment Pools .12

Reverse Repurchase Agreements .13

Securities Lending Transactions .14

Investment Arrangements, Including External Investment Pools .15-.17

Accounting and Financial Reporting Considerations .18-.55

General Recognition Standards .18-.55

Auditing Considerations for Investments and Certain Equity Investments .56-.99

Risk Assessment .57

Overall Considerations Relating to Investments and Certain Equity Interests .58-.59

Identification of Material Classes of Transactions, Account Balances, and Disclosures .60-.63

Identification of Significant Risks Related to Valuation .64-.67

Determining Audit Strategy for Testing Investments at Fair Value .68-.70

Management’s Specialist and the Use of Others in Fair Value Measurement .71-.99

Part II — Accounting, Financial Reporting, and Auditing Considerations for Derivative Instruments .100

Nature of Transactions .100-.113

Investment Derivative Instruments .103

Hedging Derivative Instruments .104-.105

Hybrid Instruments .106-.108

Financial Instruments Not Included in the Scope of GASB Statement No. 53 .109

Derivative Instrument Risk .110-.111

Compliance Requirements and Derivative Instrument Policies .112-.113

Accounting and Financial Reporting Considerations—Derivative Instruments .114-.120

Auditing Considerations—Derivative Instruments .121-.131

6 Revenues and Receivables .01-.102

Introduction .01-.02

Nature of Transactions .03-.09

Accounting and Financial Reporting Considerations .10-.88

Accounting .11-.68

Resource Flows Statement Classifications .69-.85

Financial Position Statement Classifications .86-.87

Disclosures .88

Auditing Considerations .89-.102

Confirmations .94-.97

Estimates .98-.99

Tax Abatement Disclosures .100

Confidential Records .101

Other Auditing Procedures .102

7 Capital Assets .01-.92

Nature of Transactions .01-.09

Capital Asset Management .03-.08

Compliance Considerations .09

Accounting and Financial Reporting Considerations .10-.75

Accounting and Financial Statement Presentation—Government-Wide Financial Statements .13-.30

Accounting and Financial Statement Presentation—Governmental Funds .31-.32

Accounting and Financial Statement Presentation—Proprietary Funds .33

Accounting and Financial Statement Presentation—Fiduciary Funds .34

Capital Leases .35-.38

Capital Asset Impairment .39-.44

Modified Approach for Infrastructure Assets .45-.53

Specified Conditions Approach for Internally Generated Intangible Assets—Other Than Computer Software .54-.55

Specified Conditions Approach for Internally Generated Computer Software .56-.59

Interfund Movements and Intra-Entity Transfers of Capital Assets .60-.62

Capital Assets Used in Landfills .63

Capital Assets Used in Pollution Remediation .64

Certain Asset Retirement Obligations .65

Service Concession Arrangements .66-.71

Disclosures .72-.73

Management’s Discussion and Analysis .74-.75

Auditing Considerations .76-.92

Capital Asset Records .79-.81

Ownership of Infrastructure Assets .82

Useful Lives of Infrastructure Assets .83

Modified Approach for Infrastructure Assets .84-.92

8 Expenses or Expenditures and Liabilities .01-.132

Introduction .01

Nature of Transactions .02-.10

Accounting and Financial Reporting Considerations .11-.120

General Recognition Standards .11-.17

Specific Recognition and Financial Reporting Standards .18-.65

Expenses Resulting From Previously Incurred Disbursements .66-.70

Liabilities .71-.105

Resource Flows Statement Classifications .106-.113

Financial Position Statement Classifications .114-.115

Disclosures .116-.118

Management’s Discussion and Analysis .119-.120

Auditing Considerations .121-.132

9 Interfund, Internal, and Intra-Entity Activity and Balances .01-.35

Introduction .01

Nature of Transactions .02-.05

Nature of Interfund Activity and Balances .02-.03

Nature of Internal Activity and Balances .04

Nature of Intra-Entity Activity and Balances .05

Accounting and Financial Reporting Considerations .06-.35

Reporting Interfund Activity and Balances .06-.15

Reporting Internal Balances and Activity .16-.20

Reporting Intra-Entity Activity and Balances .21-.26

Differing Year Ends .27

Auditing Considerations .28-.35

10 Net Position and Financial Statement Reconciliations .01-.31

Nature of Transactions .01-.04

Financial Reporting Considerations .05-.24

Government-Wide Net Position .06-.08

Proprietary Fund Net Position .09

Governmental Fund Balances .10-.18

Reconciliations—Net Position and Changes in Net Position .19-.21

Fiduciary Fund Net Position .22

Disclosures .23-.24

Auditing Considerations .25-.31

11 The Budget .01-.26

Introduction .01-.03

Budgetary Processes .04-.11

Types of Budgets .04-.06

Legal Level of Budgetary Control .07-.08

Encumbrances .09-.10

Budgetary Basis .11

Financial Reporting Considerations .12-.16

Budgetary Comparison Schedules or Statements .12-.13

Disclosures .14-.16

Auditing Considerations .17-.26

Internal Control Considerations .18

Presentation of Budgetary Comparison Information .19-.21

Audit Support for Financial Statement Assertions .22-.24

Budgetary Compliance Considerations .25-.26

12 Special-Purpose and State Governments .01-.124

Introduction .01-.03

Financial Reporting Requirements for Special-Purpose Governments .04-.09

Compliance Requirements .10

Specific Guidance for Special-Purpose Governments .11-.89

Hospitals and Other Health Care Providers .11-.13

School Districts .14-.20

Airports .21-.23

Public Housing Authorities .24-.27

Financing Authorities .28-.35

Transportation Systems .36-.37

Utilities .38-.39

Postemployment Benefit Plans .40-.45

Public Entity Risk Pools .46-.50

External Investment Pools .51-.58

Colleges and Universities .59-.89

Specific Guidance for Indian Tribes .90-.94

Specific Guidance for State Governments .95-.124

Nature and Organization of State Governments .96-.99

Specialized Reporting Requirements .100

Reporting Entity Definition .101

Separate Fund, Departmental, Agency, and Program Audits .102

Medicaid .103-.105

Food Stamps .106

Unemployment Compensation Benefit Plans .107

Lotteries .108-.113

Escheat Property .114-.117

State Tuition Programs .118-.119

Multistate Legal Settlements, Including Tobacco Settlement Resources .120-.124

13 Defined Benefit Pension Plans (Plan & Employer Considerations) .01-.183

Introduction .01-.06

Nature of Transactions .07-.15

Types of Defined Benefit Pension Plans .07-.08

Number of Defined Benefit Pension Plans .09-.10

Relevance of Census Data .11-.15

Part I — Plan Accounting, Financial Reporting, and Auditing Considerations for Defined Benefit Pension

Plans Administered Through a Qualifying Trust .16-.95

Accounting and Financial Reporting Considerations .16-.43

Auditing Considerations for the Pension Plan .44-.95

Part II — Employer Accounting, Financial Reporting, and Auditing Considerations: Single and Agent Employers .96-.142

Accounting and Financial Reporting Considerations .96-.108

Auditing Considerations for Single and Agent Employers .109-.142

Part III — Employer Accounting, Financial Reporting, and Auditing Considerations: Cost-Sharing Employers .143-.180

Accounting and Financial Reporting Considerations .143-.165

Auditing Considerations for Cost-Sharing Employers .166-.180

Appendix A — Governmental Employer Participation in Agent Multiple-Employer Plans: Issues Related to Information for Employer Reporting .181

Appendix B — Governmental Employer Participation in Cost-Sharing Multiple-Employer Plans: Issues Related to Information for Employer Reporting .182

Appendix C — Governmental Employer Participation in Single-Employer Plans: Illustrative Schedule of Pension Amounts and Illustrative Auditor’s Report .183

14 Defined Benefit Postemployment Benefits Other Than Pensions (Plan & Employer Considerations) .01-.218

Introduction .01-.05

Nature of Transactions .06-.16

Types of Defined Benefit OPEB Plans .06-.08

OPEB Financing (Risk Management) and Administrative Arrangements .09-.11

Number of Defined Benefit OPEB Plans—OPEB Plans Administered Through a Qualifying Trust .12-.13

Relevance of Census Data .14-.16

Part I—Plan Accounting, Financial Reporting, and Auditing Considerations for Defined Benefit OPEB Plans Administered Through a Qualifying Trust .17-.102

Accounting and Financial Reporting Considerations .17-.47

Auditing Considerations for OPEB Plans Administered Through a Qualifying Trust .48-.102

Part II — Employer Accounting, Financial Reporting, and Auditing Considerations for Defined Benefit OPEB Plans Administered Through a Qualifying Trust: Single and Agent Employers .103-.149

Accounting and Financial Reporting Considerations .103-.115

Auditing Considerations for Single and Agent Employers Administered Through a Qualifying Trust .116-.149

Part III — Employer Accounting, Financial Reporting, and Auditing Considerations for Defined Benefit OPEB Plans Administered Through a Qualifying Trust: Cost-Sharing Employers .150-.187

Accounting and Financial Reporting Considerations .150-.172

Auditing Considerations for Cost-Sharing Employers .173-.187

Part IV — Employer Accounting, Financial Reporting, and Auditing Considerations for Defined Benefit OPEB Plans That are Not Administered Through a Qualifying Trust .188-.218

Accounting and Financial Reporting Considerations .188-.201

Auditing Considerations for Employers When the Plan is Not Administered Through a Qualifying Trust .202-.218

15 Concluding the Audit .01-.49

Introduction .01

Misstatements and Audit Adjustments .02-.07

Litigation, Claims, and Assessments .08-.10

Written Representations .11-.15

Related-Party Transactions .16-.19

Going Concern Considerations .20-.30

Subsequent Events .31-.41

Analytical Procedures .42

Communicating with Those Charged with Governance .43-.45

Audit Documentation .46-.49

16 Audit Reporting .01-.103

Introduction .01-.03

Materiality .04-.11

Specific Issues in Reporting on the Audits of Governmental Financial Statements .12-.62

Basic Financial Statements .12

The Auditor’s Report .13-.35

Special Situations .36-.62

Required Supplementary Information, Supplementary Information, and Other Information .63-.86

Audit Scope Includes Required Supplementary Information, Supplementary Information, or Other Information .65

Required Supplementary Information .66-.73

Supplementary Information .74-.79

Other Information .80-.86

Other Financial Presentations .87-.102

Individual Fund Financial Statements .87-.90

Departmental, Agency, and Program Financial Statements .91

Special-Purpose Regulatory Presentations .92

Summary Financial Information .93-.102

Appendix A — Illustrative Auditor’s Reports .103

17 Financial Statements Prepared in Accordance with a Special-Purpose Framework .01-.19

Accounting and Financial Reporting Considerations .01-.06

Auditing Considerations .07-.17

Auditor’s Reports .15-.17

Appendix A — Illustrative Auditor’s Reports .18

Appendix B — Overview of Reporting Requirements for Special-Purpose Financial Statements .19

18 Auditor Involvement with Municipal Securities Filings .01-.40

Introduction .01-.06

Auditor Involvement with Municipal Securities Offerings .07-.30

Conditions Affecting Auditor Involvement .08-.20

Auditor Responsibilities When Involved in an Official Statement .21-.27

Engagement Terms Regarding Auditor Involvement .28-.29

Continuing Disclosure Documents .30

Using Government Auditing Standards Reports and References in the Official Statement .31

Letters for Underwriters and Other Requesting Parties .32-.38

References to the Auditor as an "Expert" .38

Attestation Engagements Related to Municipal Securities Issuances .39-.40

Supplement

Statement of Position 98-2

Appendix

A Acronyms and Abbreviations

B Category B Guidance

C Overview of Statements on Quality Control Standards

D Schedule of Changes Made to the Text From the Previous Edition

Index of Pronouncements and Other Technical Guidance

Subject Index

Erscheinungsdatum
Verlagsort New York
Sprache englisch
Maße 152 x 224 mm
Gewicht 1262 g
Themenwelt Wirtschaft Betriebswirtschaft / Management Rechnungswesen / Bilanzen
ISBN-10 1-948306-64-6 / 1948306646
ISBN-13 978-1-948306-64-5 / 9781948306645
Zustand Neuware
Haben Sie eine Frage zum Produkt?
Mehr entdecken
aus dem Bereich