Fake audit - New Mexico Finance Authority

Did anybody notice the absence of the auditors?  http://www.kob.com/article/stories/S2687502.shtml?cat=516

A signed audit report but no audit work was done.   Missing comptroller.  Lots of questions, not presently many answers

Amazon now collecting sale tax from Texans

Effective July 1, 2012http://www.statesman.com/business/starting-sunday-texans-will-have-to-pay-tax-2406966.html

GASB approves pension standard

to put unfunded pension liability on the balance sheet.   See this Journal of Accountancy article.   also references the Pew study of the 1.3 trillion dollar funding gap http://journalofaccountancy.com/News/20125927.htm

Pension Funding Task Force developing

guidelines to help governments in dealing with the pension changes from GASB.   http://www.bondbuyer.com/issues/121_113/gasb-standards-public-pension-fund-accounting-1040821-1.html

Sal Khan's MIT commencement speech

I know this is tangential to Governmental accounting, but I believe this speech is related to good living, and am including it here.   About halfway through, Sal tells the graduates some words of wisdom to consider in living.   I enjoyed his perceptions about political interactions, night sky, inspiration, and his thought experiment that he concludes with.   http://web.mit.edu/newsoffice/2012/commencement-khan-address-0608.html

OMB provides final draft of Circular

The 2012  OMB Circular A-133 Supplement draft has been provided so firms can begin planning their 2012 single audit engagements http://www.aicpa.org/InterestAreas/GovernmentalAuditQuality/Resources/OMBCircularA133/Pages/FinalDraft2012OMBCircularA-133ComplianceSupplement.aspx

IFAC CEO speaks

to worldwide government accounting reforms necessary, and taking an active stance.  http://opinion.publicfinanceinternational.org/2012/05/damned-lies-and-government-accounts/#.T8gjn8V2OuI