The role of the internal audit has been evolving from that of a compliance and fraud watchdog to that of a full-fledged partner in an institution’s overall risk management process.

Statement No. 81 addresses situations in which the government or a third party serves as the intermediary for an irrevocable split-interest agreement. Statement No. 81 also provides guidance for agreements in which the government may have a lead interest or remainder interest in receiving benefits.

State and local governments participate in external investment pools that function in a similar manner to money market investment funds.

Matt Stevens of Pitcher Partners in Australia experiences accounting life in Texas through Weaver's Secondment Program.

It’s not unusual for the IRS to conduct audits of qualified employee benefit plans, including 401(k)s. Plan sponsors are expected to stay in compliance with numerous, frequently changing federal laws and regulations.

The legal battle has begun as a result of South Dakota’s new sales tax reporting requirements that were signed by the Governor on March 22, 2016 (the “Remote Seller Law”).

The goal of a risk management program is to identify and manage potential events that could affect an organization. Bankers are adept at risk management practices, but a risk that may be overlooked is the influence employees have on the success of a risk management program.

How should the methodology a state or local government uses to compile financial statements acknowledge such relationships? The Governmental Accounting Standards Board (GASB) addressed that question with the issuance of Statement No. 80 – Blending Requirements for Certain Component Units – in January 2016.

In Texas, a severance tax credit is available for operators of eligible marginal oil leases and gas wells due to the current state of low oil and gas prices.

Companies that lease valuable assets — such as aircraft, real estate and heavy equipment — will soon have to recognize on their balance sheets the assets and liabilities generated by contracts longer than a year under Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842).