Compare and contrast the CAFRs in three categories: Publication method.

 

  • Compare and contrast the CAFRs in three categories:
    • Publication method.
    • The existence or non-existence of an internal audit function.
    • At least two key features of the external audit information.
      • Compare both the internal and external audit information presented.
      • Include the publication method of the CAFR for the assigned local government entity with the governmental entity being used for your Continuing problem.
  • Analyze each of the three sections of the assigned local government CAFR using the questions presented in Chapter 2 Continuing Problem as a basis:
    • The CAFR includes statements that combine and report on the government’s activities from both a government-wide and a fund perspective.
    • The CAFR is divided into three sections – introduction, financial, and statistical.
    • Using the assigned local government CAFR, analyze each of these sections using the questions presented in the Chapter 2 Continuing problem as a basis.
  • Analyze the local government methods used in the preparation of the Budget-to-Actual reports in the CAFR, including the basis of accounting used, significant variances, and other local government financial-related legal or contractual requirements.
    • The Budget-to-Actual reports in the CAFR are the foundation of evaluating budgetary compliance.
  • Analyze the local government CAFR, identifying at least three primary revenue sources from both governmental and enterprise funds. In your analysis, include:
    • Revenue rates.
    • Revenue trends.
    • Whether the delay remains in the recognition of revenue.
      • The statistical section is a good source of rate and trend information.

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