Authors:

  • Holger Spamann

Excerpt

Deficiencies in Accounting and Financial Reporting of State and Municipal Governments. Holger Spamann, June 2015, Paper. "Detroit's bankruptcy highlighted what savvy observers have been warning about for years: The finances of many states, cities, and other localities are in dire straits. The authors believe that this financial calamity is partly attributable to the outdated and ineffective financial reporting regime for public entities, and that fixing this regime is a necessary first step toward fiscal recovery. In the authors' view, public sector finances will only improve if the financial reporting regime..." Link