FASAB seeking comments on proposal

to ensure appropriate organizations are included in the Federal government reporting.   Comments are requested by July 3.  http://journalofaccountancy.com/News/20137719.htm

Iowa State auditor to be new chair at GASB

Robert Attemore, the outgoing chair who is retiring, mentions how his replacement has experience to help navigate some of the controversial work ahead.   Post employment benefits is one specific topic referenced.  http://journalofaccountancy.com/News/20137716.htm

SIngle audit thresholds

under potential change  http://www.journalofaccountancy.com/News/20137301.htm

Transparency in government reporting

The reporting during "Sunshine week" showed 247 transparency winners out of 1000 local governments whose websites were reviewed.    No states actually received awards for their transparency, although three states garnered the most awards.  http://www.governing.com/news/state/gt-awards-highlight-transparent-government-websites.html

The nonprofit Sunshine Review is the one to tabulate this information.   here is that website.  http://sunshinereview.org/core/

States where individuals are not saving as much

are highlighted in this article http://247wallst.com/2013/03/05/the-10-states-where-people-save-the-least/

Group of 20 leading nations

highlight the importance of comparability and transparent public sector financial reporting in Russia at meeting of central bank governors and finance ministers.    Emphasized the importance of country specific circumstance and impact of financial sector vulnerability on public debt.  http://www.publicfinanceinternational.org/news/2013/03/accounting-bodies-hail-g20-emphasis-on-public-sector-reporting/

A ticking clock for Detroit

as the State has declared a financial emergency situation.  This gives ten days to look for solutions,  prior to a state takeover of Michigan's biggest city.    A state takeover is preferable to the bankruptcy option, which if it occurred would make Detroit the largest municipal bankruptcy.   Michigan law enables this state takeover option.  http://www.businessweek.com/news/2013-03-04/michigan-governor-s-move-sets-detroit-takeover-in-motion