As a CPA, CGMA or finance professional practicing in government, you’re committed to doing the research and analysis needed for proper accounting and auditing. A comprehensive and exhaustive site to increase your awareness, understanding and interpretation of standards and regulations for your success in your role begins here.
The AICPA’s management accounting team is on it for you. We’ve compiled in one place the current accounting and auditing standards (along with the frequent and up to date changes) from the Government Accountability Office (GAO), Governmental Accounting Standards Board (GASB), Federal Accounting Standards Advisory Board (FASAB), the Office of Management and Budget (OMB) and others.
Government entities are governed by the standards of many regulating bodies. Government standards whether general (GASB/FASAB) or more specific (Yellow Book, Green Book, COSO) provide not only standards but interpretations and best practices for not only federal entities, but state and local governments as well. Whether accounting for leases, grants, auditing public housing or establishing a compliance program, we’ve compiled the information you need to meet your needs here.
Full Report: GAO-21-368G, Government Auditing Standards: 2018 Revision Technical Update April 2021 (Yellow Book)
Regulations, including timelines, deadlines and changes are often in a relevant memorandum format.
Memorandum: Implementation of Regulatory Freeze (January 24, 2017)
Understanding the following laws is paramount to establishing accounting practices within government entities.
Code of Federal Regulations (CFR): Main Page
H.R.1625 - Consolidated Appropriations Act, 2018 (P.L. 115-141)
Federal Information Security Management Act of 2002 (FISMA) (P.L. 107-347)
Accountability of Tax Dollars Act of 2002 (ATDA) (P.L. 107-289)
Reports Consolidation Act of 2000 (P.L. 106-531)
Federal Financial Management Improvement Act of 1996 (FFMIA) (P.L. 104-208)
Single Audit Act Amendments of 1996 (P.L. 104-156)
The Lobbying Disclosure Act of 1995 (P.L. 104-65)
Government Management Reform Act of 1994 (GMRA) (P.L. 103-356)
Government Performance and Results Act of 1993 (GPRA) (P.L. 103-62)
Government Performance and Results Act (GPRA) Reports
Chief Financial Officers Act of 1990 (CFO Act) (P.L. 101-576)
Single Audit Act of 1984 (P.L. 98-502)
Inspector General Act of 1978 (P.L. 95-452)
Federal Grant and Cooperative Agreement Act of 1977 (P.L. 95-224)