AELR CFO designations needed

Do you file an Annual Expenditure Limitation Report? If so, did you know that, beginning in fiscal year 2021, you are required to submit to the Auditor General by July 31st who will be officially be signing the report? Per A.R.S. §41-1279.07(E), every county, city, town or community college district must provide to the Auditor …

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OMB exemptions related to the expenditure of federal awards and COVID-19

With the widespread impact of the COVID-19 virus, the Office of Management and Budget (OMB) has released various memorandums offering advice, direction and relief through the relaxation or easing of the administrative requirements related to the expenditure of federal funds. Initially the OMB’s memo’s focused on providing relief or flexibility only to recipients performing essential …

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Accounting for a pandemic

This pandemic has changed almost every aspect of our lives. With more people working from home, changes to our business operations, personnel and their roles, we see a plethora of moving pieces that make this time challenging. Business is changing, has changed, and we are sharing some tools for moving forward. Don’t miss: Your audit …

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Update to GASB’s re-examination of the reporting model spring 2020

Many of you are following the progress GASB is making in re-examining the reporting model developed largely from GASB 34. We at Henry+Horne are also keeping a close watch on the changes the board has tentatively decided on, in an effort to be ready for their much-anticipated exposure draft set to be released summer 2020. …

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Schools and deadlines during COVID-19

As of March 13, 2020, we were notified that all schools would be closed as a preventative measure due to the COVID-19 outbreak. This has resulted in multiple effects in our general community among other things. From a business perspective, new questions have surfaced for the March 31 deadline. Don’t miss: $21 million missing and …

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Audit vs Review vs Compilation

A CPA can perform a number of services for an organization based on the organization’s needs. Typically, the three financial statement engagements are an audit, review or compilation. In all three instances the result is a set of financial statements, that are the responsibility of the organization’s management, where different assurances are provided by the …

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Your audit, from good to great

We want our clients to get more out of their audits! We are not talking about heartburn either. We invite you to look behind the audit curtain. Maybe this will shed some light on what is going on. We have an action plan, some things you can do to help turn your audit from good …

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Fraud trends to be aware of

There has been an increased number of ransomware attacks reported in the last year including municipalities in the state of Texas, as well as attacks on the cities of Baltimore and Atlanta. It should not be a surprise that data breaches continue to be a top fraud trend. Unfortunately, ransomware is not the only fraud …

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Compilation, review or audit: What’s the difference?

For a CPA these three words have a very distinct meaning. But to the non-auditing world, these words can have very different meanings. As the client, you may have found yourself wondering what these words really mean. This article will provide a crash course in audit terminology. A brief explanation of the key characteristics and …

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Continuous auditing technologies in small businesses

The trend of smaller businesses is on a rise for using more continuous auditing technologies. Continuous auditing technology is a way for small businesses to improve their continuous auditing efforts with the purchase of packaged software audit systems. The boom in technology in the past few decades has enabled users to customize anything they’d like. …

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