New Auditee Resource Center on the AICPA Website

Henry & Horne is committed to achieving the highest quality audits.  As a member of the American Institute of Certified Public Accountants Governmental Audit Quality Center (GAQC), we have access to key information and comprehensive resources that we use to help ensure our compliance with appropriate professional standards and laws and regulations that affect our …

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Is Small Business Safe from Fraud?

Many small business owners have a feeling of invincibility when it comes to employee fraud.  Their “dedicated” and “loyal” employees would never steal from them.  Or maybe they are just too small to make any theft worthwhile.  The Association of Certified Fraud Examiners (ACFE) thinks otherwise and has the statistics to back it up. Recently …

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Updated Annual Financial Report (AFR) for Arizona School Districts

With the Annual Financial Report due next week, make sure to have the most up to date form by visiting http://www.auditorgen.state.az.us/forms_schooldistrict.htm.  The Arizona Auditor General recently released Memo 256 with a few updates to the form. In the memo, it explains the major changes that have occurred from last year’s form including the removal of …

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Inherited IRAs … no 60 day rollover window!

Individual Retirement Accounts (IRAs) have many rules, and the penalties for failing to follow the rules can be painful. The taxpayer Elizabeth Beech found this out the hard way with her inherited IRA. Elizabeth Beech inherited an IRA from her deceased mother. In 2008, Ms. Beech took a $35,348 distribution from the IRA. She took …

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Who is the GFOA, and What Do They Do?

The Government Finance Officers Association (GFOA) as identified in their mission statement is an organization that was established to assist in the professional management of governments by developing and identifying financial policies and best practices through education, training, facilitation of member leadership and networking. The objectives of the GFOA are to offer expert knowledge, education, …

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