General Accepted Accounting Principles

Generally Accepted Accounting Principles are a common set of accounting rules and standards that dictates how all of our financial statements are prepared. Public companies, nonprofit organizations, and government entities are all required to prepare financial statements in accordance with GAAP. These guidelines were developed over time by the Financial Accounting Standards Board (FASB), and… Read More


The International Public Sector Accounting Standards Board (IPSASB) published “The Applicability of IPSASs and a revised “Preface to International Public Sector Accounting Standards (Preface), which change how the IPSASB communicates the type of public sector entities that it considers when developing an IPSAS or Recommended Practice Guideline (RPG) Until now, IPSASs and RPGs have included… Read More


The International Auditing and Assurance Standards Board released its 2014/2015 Biennial Report, Championing Change in the Public Interest, yesterday April, 20. The report highlights key outputs from the board in the past two years, including the Framework for Audit Quality and the new and revised Auditor Reporting standards. Commentary from IAASB Chairman Prof. Arnold Schilder,… Read More