Accounting News

This publication is intended to keep managers abreast of accounting matters that are of concern to professional organizations. Subjects included in this issue are topics of discussion at recent professional meetings attended by GAO Accounting and Financial Management Division representatives or were brought to its attention as a part of its official responsibility with professional accounting organizations. These matters include: revised Federal audit standards, the grant reform bill, reports of committee meetings and Federal appointments, the creation of a new position to combat fraud in the Department of Defense, fraud in Government programs, W-2 filing requirements, the Foreign Corrupt Practices Act amendments, foreign military sales, a debt collection bill, the Federal Managers Accountability Act, an internal control assessment guide, and the status of single audit implementation.