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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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Information Management and Technology Assurance Podcasts

Podcasts Podcast recorded by executive committee members of the IMTA Division on a variety of topics.
Published on August 25, 2016

Expert Witness Profiler

Overview The Expert Witness Profiler, a company which conducts extensive profiles of an expert witness' professional background, offers FVS members 20% off.
Published on August 25, 2016

Center for Plain English Accounting

Overview The CPEA’s straight-forward and clear style of writing and speaking allows practitioners the opportunity to understand the applicability of this literature when they are preparing financial statements and/or when they are auditing, reviewing, and compiling those financial statements.
Published on August 25, 2016

ASU 2016-14 Amendments to Not-for-Profit Financial Statements

News ASU 2016-14 represents the completion of the first phase of a two-phase project to amend NFP financial reporting requirements.
Published on August 25, 2016

AICPA Testifies at IRS Public Hearing on REG-139343-08, User Fees for Preparer Registration

Testimony Statement by Edward Karl at the August 24, 2010 IRS Hearing on User Fees for Preparer Registration.
Published on August 25, 2016

AICPA Submits Comments to IRS Oversight Board on Long-Term Measures Proposed for IRS Strategic Plan.

Comment Letter AICPA supports IRS establishment of five long-term enterprise measures in conjunction with the Service's Strategic Plan for fiscal years 2005-2009. They provide comments primarily on the conceptual framework for each of the proposed measures.
Published on August 25, 2016

AICPA Supports House Action H.R. 674 to Repeal the 3 Percent Withholding Law

Legislative Letters The AICPA sent a letter to the House Ways and Means Committee on October 10, 2011 in support of H.R. 674, legislation repealing the requirement that federal, state, and local governments withhold 3 percent on payments to government contractors and for certain other payments.
Published on August 25, 2016

AICPA Supports Repeal of Section 9006 of Burdensome Form 1099 Measure

Comment Letter On  July 19, 2010, the AICPA sent identical letters to the Senate and House in support of repeal of section 9006 of the Patient Protection and Affordable Care Act, a provision which imposes burdensome Form 1099 tax information reporting requirements on business taxpayers.
Published on August 25, 2016

IMTA Section News & Publications

Overview The IMTA Section publications deliver news and information on current and emerging technology, compliance and privacy developments.
Published on August 25, 2016

Peer Review Program Manual (PRPM)

Overview The Peer Review Program Manual (PRPM) is developed by the AICPA Peer Review Board and provides you with up-to-date standards, policies, procedures, checklists and programs to use when arranging, administering or carrying out a peer review. To keep it current, you will receive new or revised checklists and other materials
Published on August 25, 2016

Team Review Captain Checklists, Engagement Profiles and Practice Management Toolkits

Checklist Download all zip files for the Team Captain and Review Captain Checklists, Engagement Profiles and Practice Management Toolkits.
Published on August 25, 2016

2016 Peer Review Toolkit for Engagement Reviews

Checklist Download a zip file of all of the documents you need to start an engagement review.
Published on August 25, 2016

Current Review Captain Checklists

Article   NEW:  PRPM to remain on Peer Review website, including Team/Review Captain Packages. To improve audit quality, make the peer review proces
Published on August 25, 2016

Peer Review System Review Engagement Checklist Profiles

Checklist Download a zip file of all Peer Review system review engagement checklist profiles.
Published on August 25, 2016

Current Engagement Profiles

Checklist   NEW:  PRPM to remain on Peer Review website, including Team/Review Captain Packages. To improve audit quality, make the peer review proces
Published on August 25, 2016

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