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FRAUD ALERT: The Growing Fraud Occurring in Accounts Payable in Local Government Finance Departments

LSLCPAs

Accounts payable fraud is a growing concern for local governments, with vendor scams becoming an increasingly common problem. Bad actors are contacting local governments, claiming to be from a vendor and requesting changes to addresses or bank information.

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Local Government Finance Departments: Are Your Account Reconciliations REALLY Reconciliations?

LSLCPAs

Preparing reconciliations is an essential function of an accounting department in local government finance departments. Reconciliations not only ensure the account balance in the general ledger is complete, but if done properly, they should also tell you if the account balance is correct. In this article, we will.

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Finance Digital Transformation for Accounting Firms

Acterys

Accounting firms provide financial management services to businesses, including advisory services, bookkeeping, tax preparation, and auditing. Finance transformation builds on larger digital trends inside businesses. For many accounting firms, there remains the opportunity to improve speed, efficiency, and quality.

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Attention, Soon-to-be-Accountants: Governments Need You

CPA Practice

By Girard Miller, Governing (TNS) S&P Global Ratings recently withdrew its credit ratings on 64 local governments after they failed to file financial updates on time because of staff shortages and delayed audits. So what’s changed in the supply chain for governmental accountants? Or is something else going on?

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4 Reasons to Co-source Government Accounting Functions

Cherry Bekaert

Contributors: Jack McKee, Manager, Government & Public Sector With staffing challenges and exceedingly more complex Government Accounting Standards Board (GASB) requirements , many government and public sector organizations are finding it difficult to focus on their core mission and deliver results for constituents.

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C-Suite is Optimistic About GenAI Use Within Finance and Accounting, Deloitte Says

CPA Practice

While only 6% of company executives recently polled by Deloitte have already implemented generative AI solutions to support finance and accounting processes, considerably more of these decision-makers say they’re actively discussing use cases (15.4%) or have future plans to adopt the technology (27.8%), according to the Big Four firm.

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Leading a Government Finance and Accounting Function Following the Great Resignation

Cherry Bekaert

Studies show that the state and local government workforce has not returned to pre-COVID levels. Combine that with the shrinking pipeline of accountants, especially in the governmental realm, and many state and local governments are having to do more with less than ever before.