MIDDLETOWN, Pa. — Renee Flasher, an assistant professor of accounting at Penn State Harrisburg’s School of Business Administration, has been appointed academic representative to the Comptroller General’s Advisory Board on Government Auditing Standards (GAS) by the Comptroller General of the United States .
“This is a great opportunity to have the voices of academics heard. It enriches my research on standard setting and teaching in government and nonprofit accounting,” Flasher said of the nomination.
Flasher will attend its first official board meeting on September 21.
The GAS, also better known as the Yellow Book, applies to all entities that spend more than $750,000 of federal funds in a fiscal year. While this generally covers state and local governments, school districts, non-profit organizations and others, the number of entities subject to this requirement is greater than it has traditionally been due to government support federal during the pandemic.
A Yellow Book audit is more thorough than a typical financial audit because it adds additional compliance requirements to the audit process. Ultimately, this is part of the accountability and oversight mechanism the federal government has to ensure that taxpayer funds are spent in the manner agreed upon at the award stage.