Emotional Intelligence in accounting

We’ve all heard about IQ, as the measurement has followed us through school and in pursuing careers. However, what about EQ? Emotional Intelligence matters both in the workplace and in interaction with the public. So, what is it? Emotional intelligence is “the capacity to be aware of, control and express one’s emotions, and to handle …

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Is segregation of duties really important?

You hear accountants/auditors talk about segregation of duties but do owners, Board Members and Council Members understand what it means? Surely, these individuals understand leaving such a vital part of the operations to a single person would be disastrous to the organization whereas working as a team toward a common goal produces success. The financial …

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Auditors get audited too?

Did you know that audit firms get audited by their peers? Just when you think that we as auditors don’t understand what it’s like to be on the other side of the table . . . think again! Firms in the practice of public accounting and members of the American Institute of Certified Public Accountants …

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Changes impacting debt issues for government entities

Are you, as well as other key personnel, aware of the new amendments? In February 2019, the Securities and Exchange Commission (SEC) amendments to Rule 15c2-12 went into effect for those entities that issue bond debt. This requirement is on new bond obligations being issued now and, in the future, and not a requirement for …

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Updated public debt disclosure requirements

Have you issued public debt? If so, you are going to want to be aware of the amendment the SEC approved to Rule 12c2-12. Effective February 27, 2019, all broker-dealers buying or selling municipal securities, governments, as well as any other obligated persons who issue obligations subject to the Rule will be required, through contractual …

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New caller ID spoofing and phone spear phishing alert!

Recently the Federal Trade Commission put out an alert on phone spear phishing and caller ID spoofing scams that are on the rise among consumers and companies. I imagine you experience the same relentless calls from phone numbers you don’t recognize as I do every day on my personal devices. Usually I just ignore and …

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Why is government so slow? Expectation vs. reality

Why is government so slow? Have you ever been asked this question by those your government entity serves? Maybe someone has asked this via email or commented on your social media account. Thanks to how connected we are, governments and their constituents are able to interact more than ever. The digital age also allows us …

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Governments capitalizing interest, a thing of the past

In the beginning there was capitalized interest, and some found it was good. Then, GASB decided to shed some light on this topic – now, capitalizing interest is just a thing of the past. While governmental activities generally don’t incur capitalized interest on projects in the construction phase, business-type activities were permitted to do so, …

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Quiz time! Are you furthering your expertise?

The Journal of Accountancy is a great resource for all things accounting. From fraud schemes to new accounting standards to the latest technology, the Journal covers it all. They also regularly have quizzes you can take to test your knowledge and skills for various areas. Recently, I came across a quiz they created for “Best …

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Arizona school district audit updates

In 2018, Arizona Revised Statute (A.R.S.) §15-213 was amended by law to limit audit contracts for school districts to a maximum of three years. A school district may not hire the same auditor or auditing firm for more than three consecutive years. Prior to this change, there were no limitations on the number of consecutive …

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