GAO Report: COVID19 Fraud Schemes

GAO Report: COVID19 Fraud Schemes

Building on last week’s blog, this week’s looks at another COVID-19 report issued by GAO which looks at the common fraud schemes found. The report, published in November, provides an update on the types of frauds and the outcome of the work done to bring fraudsters to justice.

GAO COVID Report

GAO COVID Report

GAO has issued two COVID fraud related reports. This week’s blog looks at the first one which focuses on some of the insights and lessons learned from the fraud in the COVID-19 response. GAO has made both Congressional as well as agency recommendations to help prevent similar fraud in the future.

Disclosure and Classification of Certain Capital Assets

Disclosure and Classification of Certain Capital Assets

The GASB recently proposed to separate out disclosures of various types of assets to help users understand the types of assets. Due to the creation of new assets like lease assets and subscriptions assets in GASB 87 and 96 there have been questions about how disclosures should be presented. GASB’s proposal would separate out intangible assets, lease assets and subscription assets separately by their respective classes of assets. Comments are due January 5, 2024.