- OMB issued an addendum to the Uniform Guidance on May 17, 2017. The amendment allows nonfederal entities an additional year to implement the Uniform Guidance requirements related to procurement.
- If you are a recipient of federal awards, you’ve likely completed your first single audit under the Uniform Guidance. In this article, we share observations our auditors made over the last year.
- In January, GASB issued new guidance to address how governments report fiduciary activities which is effective for fiscal years ending on or after December 31, 2019.
- In November 2016, GASB Statement No. 83, Certain Asset Retirement Obligations was issued requiring retired assets are measured and recognized as legally enforceable liabilities.
- GASB recently issued an Invitation to Comment on the financial reporting model. State and local governments are encouraged to comment by March 31, 2017.
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