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Use of a Program-Specific Audit to Satisfy OMB Circular A-133 Audit Requirements 

Section 200 of Office of Management and Budget (OMB) Circular A –133 (Circular A –133) states that when an auditee expends federal awards under only one federal program (excluding research and development) and the federal program's laws, regulations, or grant agreements do not require a financial statement audit of the auditee, the auditee may elect to have a program-specific audit performed in accordance with section 235 of Circular A –133. Therefore, the auditor should determine whether there is a financial statement audit requirement before performing a program-specific audit. A program-specific audit may not be elected for research and development unless all federal awards expended were received from the same federal agency (or the same federal agency and the same pass-through entity) and that federal agency (or pass-through entity, in the case of a subrecipient) approves a program-specific audit in advance.

Program-Specific Audit Requirements

Circular A –133 requires program-specific audits to be subject to the following sections of Circular A –133 as they may apply to program-specific audits, unless contrary to the provisions of section 235 of Circular A –133, a federal program-specific audit guide, or the program's laws and regulations:

  • Purpose, definitions, audit requirements, basis for determining the federal awards expended, subrecipient and vendor determinations, and relation to other audit requirements (sections 100 through 215(b))

  • Frequency of audits, sanctions, and audit costs (sections 220 through 230)

  • Auditee responsibilities and auditor selection (sections 300 through 305)

  • Follow-up on audit findings (section 315)

  • Submission of report (sections 320(f) through 320(j))

  • Responsibilities of federal agencies and pass-through entities and management decisions (sections 400 through 405)



*An example of a situation where a program-specific audit would not be allowed would be a not-for-profit college that receives student financial aid (SFA) (and no other federal awards). That is because the Higher Education Act of 1965, as amended, requires institutions that receive SFA to undergo an annual financial statement audit.

Copyright © 2004 by the American Institute of Certified Public Accountants, Inc., New York, New York.

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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

Uniform CPA Examination - Software FAQs

FAQ Answers to frequently asked questions about software and other computer requirements for the Uniform CPA Exam.
Published on March 15, 2017

Candidate Performance Report and Samples - FAQs

FAQ Frequently asked questions for the CPA Exam candidate performance report, that includes samples and a guide for interpreting the results.
Published on March 11, 2017

How to Prepare for the Uniform CPA Examination

Article Find information and resources to help you prepare for the CPA Exam including links to the Candidate Bulletin, content specification outlines, the policy on new pronouncements, confidentiality and break policy, and the tutorial and sample tests.
Published on March 11, 2017

Uniform CPA Examination FAQs - Scoring

FAQ Answers to frequently asked questions about the scoring of the Uniform CPA Exam.
Published on March 11, 2017

Uniform CPA Examination - Content, Structure and Delivery FAQs

FAQ Frequently asked questions about exam content, structure, and delivery. Find out who makes policy decisions for the Uniform CPA Examination and much more.
Published on March 11, 2017

Checklists - 2014

Checklist 2014 tax checklists that are part of the annual compliance kit
Published on February 24, 2017

Tax Reform Resource Center

Overview The Tax Reform Resource Center will be updated frequently with news, analysis, resources and the information you need to understand how coming changes will affect you and your clients.
Published on February 24, 2017

The Uniform CPA Examination

Overview Welcome to the CPA Examination site!  Whether you are a candidate preparing to take the CPA Examination, a prospective candidate thinking about entering the profession, an educator, a psychometrician, or anyone else interested in the CPA Examination,  find  the information you need right here.
Published on February 24, 2017

Credit Card Processing by Chase

Article AICPA offers members discounts on Credit Card Processing by Chase
Published on February 24, 2017

AICPA Member Discount Program

Article The AICPA offers discounts on products and services from premium brands to its members.
Published on February 24, 2017

Not-for-Profit

Overview The Not-for-Profit Section of AICPA is a community for not-for-profit professionals and their business advisors.
Published on February 24, 2017

Information Management & Technology Assurance CPE & Events

Overview IMTA Section provides members as well as credential holders the opportunity to learn and stay informed about timely issues, best practices and latest trends affecting the profession.
Published on February 24, 2017

Remember These Tips When Filing Your 2016 Tax Return, AICPA Tax Vice President Says

Press Release Washington, D.C. (February 22, 2017) – “Each tax filing season is unique and presents taxpayers with new challenges,” according to Edward S. Karl, CPA, CGMA, vice president of taxation for the American Institute of CPAs (AICPA). “Taxp
Published on February 24, 2017

5 Reasons Why CPA Financial Planners May be Avoiding Life Insurance

Article If you’re a planner who continues to avoid life insurance discussions with your clients, consider re-evaluating your personal objections to provide a more holistic approach.
Published on February 24, 2017

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