360 Degrees Program Celebrates Milestone Year
This year marks a decade since of the 360 Degrees of Financial Literacy’s launch. Sponsored by the American Institute of Certified Public Accountants (“AICPA”), the program educates Americans on financial literacy and responsibility during every stage of their lives. In the last ten years, each state’s CPA society has participated, as well as over 2,500 financial education-related events were held. Other notable achievements include jumpstarting initiatives like Feed the Pig PSA campaign , Save Wisely. Spend Happily , and Total Tax Insights . Through the program’s initiatives, more young adults have become financially sound. For instance, according to an Ad Council survey, 62 percent of young adults last year said they are excellent. Read More.
AICPA’s SLGEP & Audit and Attest Standards Team Release New Auditing Interpretations
After hosting multiple discussions concerning the issues facing accounting and auditing implementation for government pension plans and participants, and their auditors due to the Governmental Accounting Standards Board’s (“GASB”) recent pension accounting standards, the American Institute of Certified Public Accountants (“AICPA”) State and Local Governments Expert Panel (“SLGEP”) and AICPA Audit and Attest Standards Team have come together to issue three auditing interpretations for guidance. The three audit interpretations are as follows: Interpretation No. 2, “Auditor of Participating Employer in a Governmental Cost-Sharing Multiple-Employer Pension Plan,” of AU-C section 500, Audit Evidence: This interpretation clarifies the audited financial statements of. Read More.