Government officials must demonstrate transparency and efficiency in the execution of their duties. Accountability in governance is vital to public sector accounting services, in how duties are carried out, and how public funds are expended. Even as funding is stretched thin, public sector organizations must be able to maintain internal controls to safeguard assets and meet the growing demand for financial accountability and transparency, often with decreased internal resources.
The LaPorte Public Sector Industry Group has 16 multidisciplinary professionals with experience serving a broad range of governmental entities. Most of these professionals are CPAs, many are active members of the Government Finance Officers Association, and we are proud of our two team members who are certified government financial managers. Our professional memberships and certifications, a focus on continuing professional education, and the firm’s participation in the AICPA Governmental Audit Quality Center together contribute to our clients’ confidence that we will keep them up to date on regulatory changes and will advise them on best practices in their industry. LaPorte’s strong focus on team continuity means our clients won’t waste time or effort in educating our team. In fact, many of our professionals have been serving governmental entities their entire careers. LaPorte also has a record of keeping senior-level team leaders involved and responsive throughout engagements. Our professionals provide insights into financial reporting compliance and also work to improve efficiency, reducing costs and creating greater public accountability.
SERVICES TO INDUSTRY
Accounting and Audit
- Agreed-upon procedures
- Audits of federal awards programs (compliance with Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)
- Audits, reviews, and compilations of financial statements
- Financial reporting
- Internal control evaluations
- IT reviews and evaluations
- Accounting software consulting
- Assistance with grant requirement compliance
- Board member training
- Budgeting and strategic planning
- Fraud investigations
- Monthly accounting
- Payroll research and wage rate calculations
- Payroll tax return preparation
- Performance and operational reviews
- Utility rate studies
LAPORTE PUBLIC SECTOR OVERVIEW
(authored by RSM US LLP) A recent proposed ASU addresses the accounting for revenue contracts with customers acquired in a business combination.
Beginning in January of 2021, the IRS will require businesses to report non-employee compensation using a new Form 1099-NEC. Amounts