The Audit Connection Blog
FIT gets fitter
We have refreshed our Financial Intelligence Tool (FIT) with fiscal year 2019 data submitted by local governments, as well as some new enhancements! ... CONTINUE READING
Four real tips for better virtual meetings
Virtual meetings are on the rise for everyone, so what can we do to make them better? ... CONTINUE READING
Getting CARES Act funding? Document, document, document
What’s the best advice we can give you regarding use of and documentation for CARES Act funding? Document, document, and document some more. Read on for more guidance regarding this federal funding. ... CONTINUE READING
Five things to consider when choosing an online meeting platform
Many local governments found themselves abruptly thrust into the world of online meetings when state-level mandates to prevent the spread of coronavirus forced them to cancel in-person events. After several months’ experience, you might be reconsidering your initial choice. We have assembled a short list of five things to consider when choosing an online meeting platform. ... CONTINUE READING
Is your approval process as effective as you think? Here are some tips to improve it
How many approvals do you really need for financial transactions? It might be fewer than your process currently calls for. ... CONTINUE READING
Looking to push less paper? Consider electronic approvals
Processing documents such as vendor invoices and employee timesheets involves frequent approvals. It can be inefficient to pass around paper for these purposes, so electronic options are attractive to many. When it comes to electronic approvals for internal control purposes, here are five things you’ll want to keep in mind. ... CONTINUE READING
Single audit alert: Another change to federal single audit deadlines
OMB has significantly changed the single audit extension that it issued in March. Find out if this revision affects your government. ... CONTINUE READING
Want to go paperless? Here are some resources that can help
We know that moving to paperless processes has been a goal for some local governments. If you were on the fence, the pandemic might be prompting you to explore your options now. Here is some information we frequently share when asked about going paperless. ... CONTINUE READING
Trust is not an internal control; segregating duties is
Trusting your employees is important, but you should also be verifying they are doing their work properly because trust alone isn’t a sufficient control for preventing loss. One of the best ways to protect your government’s assets—and your employees—is to segregate duties. You have a lot to consider when developing your internal control system, so we’ve created a collection of guides, checklists and articles to help you. ... CONTINUE READING
What’s the scenario? Financial planning in uncertain times
Many of you are attempting to anticipate the length or depth of the financial impacts of the pandemic. This will be difficult to predict, which makes financial planning challenging. One important tool available to help you in these circumstances is scenario planning. ... CONTINUE READING