Auditor flags GASB 96 implementation issue for subscriptions
The auditor identified a significant deficiency tied to implementation of GASB 96 (subscription-based accounting). Staff said this was the second year of implementation and the district missed capitalizing some subscriptions but has corrected the entries.
The full story
The committee heard that the auditor found a significant deficiency related to GASB 96, the accounting standard on subscription-based information technology arrangements. Tara Camp described the issue as an accounting-rule error that has appeared in other districts during the early implementation phase.
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