Sunday, Feb. 13, 2005 | ||
Bad Links? | Fayetteville auditor firm to receive a raise in 2005Fayetteville City Council granted a $6,000 raise to Mauldin and Jenkins, due to increased Governmental Accounting Standards Board auditing standards and an increased demand for services. The firm received $25,000 to audit the citys books and an additional $2,000 to audit the Main Street Tourism Associations finances in 2004. The board unanimously voted to approve the fee to $31,000 last month at the request of City Finance Director Lynn Robinson. Robinson reasoned the increased fee was justified since the firm actually received $27,000 from the city in 2004. Additionally, Robinson said the increase was necessary due to the numerous changes that have occurred in the governmental sector since 2002 including GASB No. 34; Statement of Auditing Standards No. 99 (SAS 99 re:auditing for fraud); Government Accounting Office or GAO Auditing Standards and Independence Standards; and GASBs 39 through 45. While many governments have cut back during austere times, several city council members and other officials said they also believe the increase is merited. Mauldin and Jenkins boasts it is the largest locally owned accounting and consulting firms in the country. The firm serves 19 cities and 16 counties in Georgia, the company said. There are only a few firms that do government accounting, City Manager Joe Morton said. This is the largest governmental accounting firm in the state. Because its so specialized your mom and pop guys just dont do these. They cant keep up with the changes. Fayetteville Mayor Ken Steele indicated the company is doing more work and therefore they will receive additional compensation. |
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