Toledo, Ohio, faces first public audit in decades | Minn. Supreme Court to consider state auditor's authority | Treasury Department: Deficit in July was $43 billion
August 15, 2017
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Toledo, Ohio, faces first public audit in decades
The Ohio state auditor will examine Toledo after the disclosure that the city overlooked $8 million in a fund for five years. A private firm had been handling Toledo's audits since 2009.
The Blade (Toledo, Ohio) (tiered subscription model) (8/5),  Dayton Daily News (Ohio) (8/8) 
Minn. Supreme Court to consider state auditor's authority
The Minnesota Supreme Court has agreed to hear a case in which the state auditor is challenging the ability of counties to hire private auditors. State Auditor Rebecca Otto says the practice unconstitutionally limits her powers.
Star Tribune (Minneapolis-St. Paul, Minn.) (tiered subscription model) (8/8) 
Finance leader's eGuide to balancing risk and performance
As a government finance leader, you have two big responsibilities: ensuring integrity of public funds and protecting your organization's reputation. Understanding gaps in your ERP system controls is key in helping you maximize performance and ensure you're adhering to high levels of integrity over public funds. Download this eBook to learn how.
Risk Management
Treasury Department: Deficit in July was $43 billion
The Treasury Department reported a July deficit of $43 billion, down from $113 billion in the year-earlier period. Economists had predicted a $73 billion deficit.
Reuters (8/10) 
Have you mastered your internal control process?
Find out how and why government agencies are leveraging technology to optimize collaboration, improve the quality of documentation, and create an efficient internal control process. Download the e-book now.
Regulation & Compliance
N.M. county suspects energy firms underpay taxes
Two-thirds of the drilling companies operating in the Hobbs, N.M., area have reported no new taxable assets in the last decade, according to Lea County Tax Assessor Sharla Kennedy. She is concerned about underpayment of taxes, based on her findings and an ongoing audit in nearby Eddy County that has uncovered $2 million in unpaid property taxes.
U.S. News & World Report/The Associated Press (8/13) 
Small Iowa corporation successfully challenges Calif.'s $800 franchise tax
California's minimum franchise tax might seem small, but it can be burdensome for groups of tiered entities and a sore point for any out-of-state business that does little or no business in the state. Here's how one Iowa company successfully fought the tax.
The Tax Adviser (8/2017) 
ACGA eWorkshop: Emerging Issues and Best Practices in Government Auditing
Given current and anticipated budget reductions, coupled with increasing citizen demands for tighter fiscal accountability, government at all levels is permanently changing. Learn to identify and respond to these and other critical issues. Sept. 12-14 Earn 6 CPE credits. Register now.
Fraud & Ethics
Mo. hospital at center of billing investigation
Putnam County Memorial Hospital, which serves a town of 1,800 residents, received over $90 million in questionable insurance payments in less than a year, the state auditor reports. Hospital CEO David Byrns is separately facing charges of forgery, felony theft and monetary instrument abuse in Louisiana.
The Kansas City Star (Mo.) (tiered subscription model) (8/9) 
Audit accuses Afghanistan contractor of overbilling
For its work in Afghanistan, New Century Consulting charged over $50 million to the Pentagon for luxury cars, salaries of C-level spouses and other red flag items, the Defense Contract Audit Agency reports in an audit.
CNN (8/9) 
Let the Experts Come to You
With IIA On-site Training, your audit team will benefit from expert, personalized, and in-depth training delivered by seasoned internal audit practitioners. This flexible and cost-effective training is developed based on your organization, your team's needs, and your critical learning objectives. Let the Experts Come to You
Typical password tactics might be misguided
Traditional advice to use passwords that include special characters and to change passwords every 90 days might be misguided. Instead, the National Institute of Standards and Technology recommends use of long, easy-to-remember phrases.
The Verge (8/7),  The Wall Street Journal (tiered subscription model) (8/7) 
GAO: SEC's cybersecurity must improve
The Securities and Exchange Commission must improve its cybersecurity to prevent attacks on its computer networks, according to a report by the Government Accountability Office. "Until SEC mitigates its control deficiencies, its financial and support systems and the information they contain will continue to be at unnecessary risk of compromise," the report says.
Reuters (7/27) 
ACGA eWorkshop: Critical Thinking for Government Auditors
This course takes the basic concepts of critical and analytical thinking and applies them to the audit planning and fieldwork environment. Topics include elements of critical thinking, criteria for critical thinking, professional judgment, common fallacies, and analytical tools for problem solving. Sept. 26-28 Earn 8 CPE credits. Register here!
New infographic: Crisis response procedures
How would you describe your crisis response procedures? Which elements of a crisis response strategy do you have? Find out how your peers in the public sector answered in the latest ACGA Quick Poll. Download the infographic.
New Data analytics knowledge brief
"An Innovative Use of Data Analytics for Public Sector Auditing" details how your audit function can use surveys and publicly available information to research issues more efficiently. Read more.
There is no such thing on earth as an uninteresting subject; the only thing that can exist is an uninterested person.
G.K. Chesterton,
writer and critic
About the American Center for Government Auditing
ACGA is an IIA Specialty Center for audit professionals in the government sector. ACGA advances professional audit practices in government through thought leadership, education and training events, advocacy, and guidance. If you are a government member of the IIA, ACGA is available to you with your membership. If not please consider joining today. Learn more about the ACGA.
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