Governmental Processes and Financial Reporting
The Indiana CPA Society encourages and supports the transparency of governmental processes and financial reporting by all state and local governmental entities and all public schools within the State of Indiana. This is the key area of focus for the Advocacy Council over the next 3-5 years.
Transparency is essential in evaluating the financial health of our state and local governments and its schools and achieving accountability by state and local officials to a wide range of stakeholders. CPAs can help with the development of best practices for the financial management of those entities.
Transparency includes the timely release of both unaudited and audited financial information in a format that is clear, consistent and in a form most appropriate for the intended user. The financial information provided by Indiana state and local governmental entities and public schools must be consistent with generally accepted principles for governmental accounting and reporting to provide comparability to the financial information of other state and local governmental entities across the nation.