AICPA Issues Practice Aid on Liquidity Restrictions
October 23, 2008
The AICPA has issued a Technical Practice Aid (TPA TIS Section 1100.15) that addresses liquidity restrictions that may be imposed on money market or other short-term investment funds. The TPA highlights potential accounting and auditing issues that might result from cash availability limitations.
The AICPA is responding to accounting and auditing considerations created by recent market credit, valuation and liquidity conditions. The objective of the issuance is to compile relevant accounting and auditing considerations for use by practitioners and preparers; consequently, the TPA is considered non-authoritative.
The TPA focuses on the following potential accounting and auditing areas that could be impacted by account withdrawal restrictions.
- Balance sheet classification
- Debt covenants
- Subsequent events
- Going concern
- Auditor communication to governing boards
- Auditor report --emphasis of a matter
- Affordable Care Act: Final Rules on Coverage for Adjuncts and Students
- Administrative Jobs and Benefits Costs Drive Higher Ed Labor Costs
- OMB Super Circular Makes Changes to Audit Requirements
- 2014 Higher Education Accounting Forum
April 27-29, 2014
- ON-DEMAND: Understanding the Results of the 2013 NACUBO-Commonfund Study of Endowments, and a Look to 2014 and Beyond
- ON-DEMAND: How Behavioral Changes Helped Cut Energy Usage in Half
- ON-DEMAND: Developing a Market-Informed Approach to Tuition Pricing
- ON-DEMAND: Responsibility Center Management: The Process Necessary to Complete a Successful Implementation
- ON-DEMAND: OD: Responsibility Center Management: How Innovations Have Changed the Nature of RCM
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis