LexisNexis® Legal Newsroom
Why Generally Accepted Accounting Principles (GAAP) Are Insufficient for Government Contract Cost Accounting

By Darrell Oyer The cost accounting regulations for contracting with the Federal government consist of many pages 1 of detailed principles, practices, rules and regulations, despite the fact that existing cost principles exist in the U.S. Generally Accepted Accounting Principles (GAAP) as well as in...

Why Generally Accepted Accounting Principles (GAAP) Are Insufficient for Government Contract Cost Accounting

By Darrell Oyer The cost accounting regulations for contracting with the Federal government consist of many pages 1 of detailed principles, practices, rules and regulations, despite the fact that existing cost principles exist in the U.S. Generally Accepted Accounting Principles (GAAP) as well as...

Quality Control Under Generally Accepted Auditing Standards

by Donald Ressiguie * The auditing and attestation standards under GAAS and PCAOB standards govern the conduct of specific audits and the methods and manner of their performance. In addition, standards of quality control apply to both specific engagements and the overall auditing practice both for...