Governmental Accounting and Auditing

Government departments, agencies, or groups provide services per policies and public needs. The accounting and auditing requirements for governments work to monitor compliance with those policies.

Providing audit and accounting services for government entities includes financial assurance and reporting, but it also involves a review of operations and internal controls, accountability, compliance, and identifying risk.

Governmental Accounting Standards Board (GASB)

In the United States, governments below the federal and state levels are generally referred to as “local governments”. These might include:

• General purpose governments such as parishes or counties, cities, and towns
• Special purpose governments, which could be
• School boards, community colleges, or technical schools
• Government entities that are formed for a specific reason, such as a utility, park and recreation, fire district, or police district; water, sewer, or other utility districts; regional planning commission, building commission, or tax commission.

The generally accepted accounting principles applicable to state and local governments are established by the Governmental Accounting Standards Board (GASB), which follows Generally Accepted Accounting Principles (GAAP). These standards were developed and maintained to support transparent financial reporting for taxpayers and public officials.

Our reporting complies with generally accepted auditing standards and the standards for financial audits contained in Government Auditing Standards.

Accounting Services for Government Entities

Small government organizations often turn to outsourcing accounting services from independent CPA firms.

Our government accounting specialists comply with the appropriate accounting standards applicable to your entity to provide monthly, quarterly, or annual accounting services.

We provide an accurate measure and presentation of the entity’s economic-financial position with a complete financial statement audit.

Audit Services for Government Groups

For an audit and attest engagement with a state, local, or special purpose government entity, the audit standards will depend on a variety of circumstances, such as legal requirements, regulatory compliance, and contractual requirements. Each entity will have a unique set of circumstances that demand different applicable standards.

Our independent auditors issue a final attestation engagement report to provide assurance for entity management.

Internal Control Structure Review

Some government departments or special purpose groups do not always have the budget to staff an accounting department. This complicates the segregation of duties and maintenance of appropriate internal controls.

The accounting professionals at our CPA firm have years of experience working with a variety of government entities. Our team’s expertise allows them to identify concerns with internal controls and make recommendations to improve.

Single Audit

Federal law requires state or local governments that receive federal funds to have a Single Audit (or Yellow Book) to confirm that those funds are used for the intended purposes.

Louisiana state law also requires municipalities to provide reporting from independent auditors on the following:

• • • Annual expenditure limitation report
    • Compliance with special tax funds
    • Highway user revenue funds
    • Landfill financial assurance
    • Local transportation assistance funds

CPA Firm for Government Accounting

At Griffin & Furman, our goal is to provide professional accounting and audit support to state departments, state agencies, local governments, municipalities, and specialized groups. Give us a call today!