The federal government's first audited governmentwide financial statements

From: The Government Accountants Journal | Date: July 1, 1998| Author: | Copyright information

The federal government recently issued its first-ever audited financial statements. Considering the feds already require that type of accountability from both state and local governments and publicly owned companies, one might wonder whether this is a noteworthy event. The answer is yes-it has been a fascinating process and a monumental effort requiring years of planning and preparation and the efforts of thousands. Governmental managers, accountants and auditors are likely to have significant interest in what these statements disclose and do not disclose, not to mention the manner in which ...

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