May 3, 2021
By Richard A. Ciccarone, President, Merritt Research Services an Investortools Company, and external advisory panel member, GFRC
Slow audit reporting is not a new issue, but the lack of overall progress is problematic for investors and other stakeholders who rely on an entity’s audited financial information as an objective, meaningful tool to make important decisions.
Releasing timely audit reports is crucial to assessing credit evaluation and proper pricing in the municipal bond market. Likewise, it also remains an essential tool for good governance and stewardship. Still, it continues to take too long for many state and local governments, their enterprises, their agencies, and other tax-exempt obligors to finish auditing their books.
