The Association of Certified Fraud Examiners (ACFE) recently released its 2016 Report to the Nations on Occupational Fraud and Abuse. Once again, the number one method for detecting fraud was through tips. Of the frauds that were discovered, 39.1% were discovered by tips. That number differs between companies based on the size of the organization. …
Student activities for Arizona School Districts have many requirements, that by law, each school should be aware of before processing student activity transactions. It is important that school districts understand what constitutes a student activity, such as a club, organization, school play, or other student entertainment raised through the efforts of students at the District …
We all hate it. A message pops up on your computer stating that it’s time to change your password. As you try to come up with a unique password for what feels like the tenth time this year, you think to yourself, “how am I supposed to remember all these password changes and what good …
Each year the Auditor General (AG) makes changes to the School District Annual Budget. We know that it can be hard to keep up with all of the budget changes; therefore, we have summarized the list of those changes made to the FY2016 School District Budget below: Cover – Additional Information Added lines for the …
The Governmental Accounting Standards Board (GASB) issued a proposal last month that may change the way state and local governments report operating leases. The proposal is based on the concept that leases are a method of financing that gives governments the right to use an underlying asset. Even though there currently are disclosures in the …
Newer versions of QuickBooks will open a dialogue box “Open Bills Exist” and older versions may tell if you have a payable due to a vendor when you are in the check writing window but this is easily overlooked. If you ignore the question and opt to select the “Continue Writing Check” button or you …
Whether your organization is a for-profit, a non-profit corporation, a limited liability corporation, a partnership, or a governmental entity, chances are your state government requires that your organization hold periodic meetings. These meeting are recorded in a written form known as minutes. In the case of Arizona incorporated cities and towns, A.R.S. Title 9-234B states …
Absolutely! However, you must meet a few requirements in order to do so. According to Governmental Accounting Standards Board Statement No. 51 (GASB), “intangible assets are considered internally generated if they are created or produced by the government or an entity contracted by the government.” So, whether you have the IT department develop the website …
Preparing a Management Discussion and Analysis (MD&A) can be both difficult and time consuming for some people. However, it does not always need to be that way. The MD&A’s purpose is to provide an objective, easily readable introduction to the financial statements and assessment of the year-over-year financial position. The MD&A needs to be brief …
The Arizona Auditor General’s office recently issued the first part of a three part series fraud alert discussing what public officials can do to help prevent fraud within their organization. The fraud alert series will focus on the fraud triangle elements of opportunity, pressure and rationalization. The recently issued alert discusses the first element, opportunity, …