All the latest developments are featured in this updated edition of Local Government and Single Audits, including critical discussion of GASB 34, its directives on making the transition, and procedures for the interim period. With the guidance contained in this book, CPAs can perform accurate, cost-effective government audits more profitably than ever before. This modern, compact reference clarifies all audit procedures and regulations for state and local governments, providing CPAs with complete guidance through planning, strategy, implementation, and reporting.

This book also covers the Single Audit Act and OMB Circular A-133 and the latest release of its Compliance Supplement, as well as analysis of the Data Collection Form. Our proven eight-step single audit strategy includes timesaving tips on planning, fieldwork, and reporting. Before you perform a single audit, make sure you have this innovative resource by your side.

You’ll also get workpapers, checklists, and reports on CD-ROM at no extra charge. This electronic tool includes a Government Finance Officer’s Association checklist, confirmation letters, a personal independence representation declaration, and more.

Benefits and Features
The 2006-2007 Edition Includes:

• Updated report examples from the most recent AICPA Audit Guides
• A new checklist on common reporting deficiencies found in practice.
• Updated and expanded discussion on other comprehensive basis of accounting (OCBOA) financial statements, including auditor’s reports.
• Updated coverage for GASB-40 on deposit and investment risk disclosures
• Update coverage on GASB-42 on capital asset impairment and insurance recoveries
• Updated coverage and note disclosures for GASB-43 and GASB-45 on other postemployment benefits (OPEB)
• Updated coverage on GASB-44 on the statistical section
• Updated coverage and note disclosures on GASB-46 (Net -Assets Restricted by Enabling Legislation) and GASB-47 (Accounting for Termination Benefits)
• Updated coverage on the new GAO guidance on CPE
• Updated coverage on changes in OMB Circular A-133, the recent annual OMB Compliance Supplement, and the changes in the Data Collection Form
• An updated reporting and disclosure checklist using the most recent checklist from the Government Finance Officers Association (GFOA)