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Recovery Act Resource Center 

The AICPA Governmental Audit Quality Center (GAQC) helps member CPA firms meet the challenges of performing quality audits. The passage of the American Recovery and Reinvestment Act of 2009 (Recovery Act) is certain to result in new challenges for auditors that perform audits under Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. This GAQC Resource Center is intended to provide members with a “one-stop” repository location to more easily locate various GAQC Recovery Act communications, other related GAQC tools and resources, and links to other Web sites that may provide information to assist auditors going forward. Keep in mind that the Center will continue to push timely information and updates out to member firms via GAQC Alerts, GAQC Updates, and Center calls.

If you are not a member firm and would like to learn more about membership in the GAQC, click here.

GAQC Tools

OMB Guidance on the Recovery Act

Other Useful Web Sites, Tools, and Information

Background

The Recovery Act, issued in early 2009, is capturing news headlines around the country. Approximately $300 billion dollars in additional federal funds are being passed down from federal agencies to entities that are generally subject to single audit such as state and local governments and institutions of higher education. These federal funds are intended to either supplement existing federal programs (e.g., existing block grants for states), create new programs, or to provide more broad fiscal relief. In some cases, the funds will be passed directly to states or institutions of higher education and spent at that level. In other cases, direct recipients of Recovery Act federal funds will pass the funds through to subrecipients such as local governments or not-for-profit organizations. For this reason, the law mandates that there be an unprecedented amount of oversight and transparency around the spending of all funds associated with the law. Single audits will be impacted starting with June 30, 2009, year-ends, with more of an effect expected for single audits of year-ends thereafter. 

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AICPA Sends Congress Recommended Legislative Changes to New Partnership Audit Regime

Press Release The AICPA has submitted to Congress a set of recommended legislative changes to the new Partnership Audit Regime enacted as part of the Bipartisan Budget Act of 2015.
Published on November 17, 2017

ASB Meeting Agenda and Materials February 2017

Article Meeting Date:  February 22, 2017 Place:  Via Conference Call Time:  9:00am - 12 noon (Eastern Time Zone) Meeting dial in information will be sent to registrants
Published on January 19, 2017

Auditing Standards Board

Article The Auditing Standards Board (ASB) is the AICPA’s senior committee for auditing, attestation, and quality control applicable to the perfor
Published on January 19, 2017

ASB Meeting Materials and Highlights

Meeting Materials This listing of recent and upcoming Auditing Standards Board meeting dates, includes links to agenda materials and meeting highlights.
Published on January 19, 2017

January 2017 Update of the AICPA Professional Literature

Overview This PDF details the products updated for the January 2017 update of the AICPA professional literature.
Published on January 19, 2017

Tax CPE & Learning

Overview The AICPA Tax Section schedules webcasts and events that focus on many current tax issues that impact tax practices and business and industry members. This page provides registration links and other information on upcoming learning opportunities.
Published on January 19, 2017

Tax Section Webcast Archives

Webcast Archive Tax Section webcasts, presentation slides, and handouts are archived and available for Tax Section members to watch on-demand (without CPE) for one year following the live event.
Published on January 19, 2017

2016 1041 Estate and Trust Tax Return Engagement Letter

Engagement Letter This template engagement letter has been developed and provided by CNA.  An engagement letter is the contract between the client and accountant that defines scope of work (e.g., returns to be prepared) and the responsibilities and obligations of each of the respective parties; many include fee estimates or quotes and
Published on January 19, 2017

Changes to IRS Collection Procedures Presentation Slides - AICPA

Webcast Archive Stan Green, CPA, and Larry Wolfe, CPA – two prominent practitioners who regularly represent taxpayers before the IRS, as well as from David Preston, an IRS Territory Manager in the Small-Business/Self-Employed Collection Division provide a dual perspective that will get you up to date on changes to IRS collection procdures,
Published on January 19, 2017

Bolster Cybersecurity This Tax Season Presentation Slides - AICPA

Webcast Archive Exclusive insight from Mark Kahler, the national identity theft coordinator for IRS Criminal Investigation, as well as from Dave Lyons, CPA, a tax practitioner who shares his recent experiences with a client data breach. Webcast also provides guidance on firm cybersecurity to protect your clients this upcoming tax season.
Published on January 19, 2017

ABV Credential Marketing Campaign

Article
Published on January 19, 2017

New Partnership Audit Rules Presentation Slides

Webcast Archive The Bipartisan Budget Act of 2015 (“BBA”) enacted new partnership audit rules that will affect every partnership and have a major impact on future IRS partnership audits. The new regime contains a number of major changes, including provisions that allow the IRS to generally assess and collect audit adjustments at the
Published on January 19, 2017

Financial Literacy

Overview The financial literacy efforts of the CPA profession and combine grassroots financial literacy efforts with free resources for the public and tools that CPAs can use at a local level to volunteer to educate Americans of all ages on financial topics.
Published on January 19, 2017

PFP Health Care Reform News

News Stay up to date on legislative and regulatory issues relating to health care reform.
Published on January 19, 2017

Legislative and Regulatory News

Overview The AICPA PFP Division works with the AICPA Congressional Affairs Team to ensure that issues impacting CPA financial planners are monitored and acted upon as needed.
Published on January 19, 2017

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