Illinois is especially known for its dishonesty, whether among officeholders (future license plate motto: Land of Corruption) or in the habit of under-accounting for promises to government employees.
In a study the group produced with Tufts University, it says that with government accounting for only 13.4% of publicly distributed food (down from 22.2% in 1991), the private sector will have to make up for the shortfall by distributing a total of 24.5 billion lbs. of food in the next six years--enough to fill 5 million Army National Guard trucks.
Congress' watchdog agency, the General Accounting Office, called for consolidating government responsibility for food safety under one agency.
Cuts to pensions and public-sector wages, accounting for two-thirds of government spending after interest payments, will stir up resentment.
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After attaining an accounting diploma from an institution in Zimbabwe, I worked briefly for the government and Zimbabwe Broadcasting Corporation as an accounting officer.
Inheritance taxes are a minor source of government money, accounting for less than one percentage point of the 8-9% of GDP in revenues that Messrs Piketty and Saez estimate is raised by capital taxes.
It was in the form of a blistering, 1, 760-page staff report calling for a government takeover of accounting rules and auditing standards.
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And even though the Obama administration has assured us that accounting gimmickry will allow the government to borrow for another few months, the breach has given seeming urgency to Congressional negotiations to raise the debt ceiling.
In May EDS opened an office in Budapest that will perform finance and accounting tasks for EDS operations in 17 countries (the British government is one of EDS' biggest customers).
Reason: In an effort to tighten loopholes, the government keeps creating new regulations for things like accounting and tracking components.
The government had also criticized the auditor for allegedly using improper accounting procedures and exaggerating the losses.
With 140, 000 people in 2008, it operates as a quasi-silo, and handles IT-intensive administrative consulting for companies and government agencies, like customer service and payroll accounting.
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The Commission has been repeatedly criticized by the Government Accountability Office for material weaknesses in its financial reporting and accounting processes, an extraordinary embarrassment for the agency responsible for evaluating the financial statements of all companies whose shares are sold to the public.
It has faced competition from generic versions of its treatments and the U.S. government has investigated its accounting practices, leading it to miss filing dates for its financial results that in turn caused it to technically default on its borrowings.
Mr. ELKIND: The government's theme for the case says it's not about accounting, it's about lies and deception.
The independent external auditor is a licensed professional who works for a public accounting firm and performs an audit of the financial statements of a company, government, individual, or any other legal entity or organization.
Even by the government's optimistic accounting, only Bank of China currently meets the standards set by the Bank for International Settlements, which thinks big banks should have capital equal to at least 8% of their assets.
"The federal government continues to rely upon accounting gimmicks to address the concerns of religious nonprofits that do not qualify for the exemption, " said Nebraska Attorney General Jon Bruning, a Republican who brought an early suit against the requirement.
Experts from the finance sector, industry, regulatory agencies, government, legal and accounting professions, and academia got together last night at NYU Stern School of Business for a Ross Roundtable to discuss the reemergence of consulting practices in the major audit firms.
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