In response to the results of the Report on National Single Audit Sampling Project issued by the President’s Council on Integrity and Efficiency (PCIE) as well as governmental audit quality issues noted in peer reviews of firms performing single audits and in investigations performed by the AICPA Professional Ethics Division, the AICPA Peer Review Board recently revised Interpretation 63-1a to require the review of an A-133 engagement (see the June 2009 Peer Review Alert) and revised the Supplemental Checklist for Single Audit/A-133 Engagements (Section 22,100) dividing it into two Parts (Section 22,100 Part A and Section 22,100 Part B) and the Engagement Profiles for the Governmental Audit Checklist and the Not-for-Profit Audit Checklist.
The revised interpretation 63-1a to require the review of an A-133 engagement is effective for peer reviews commencing on or after September 1, 2009. The revised checklists and engagement profiles are required for reviews commencing on or after November 1, 2009 with early implementation encouraged. Please ensure that you provide the reviewed firm with the revised engagement profile(s) for peer reviews commencing on or after November 1, 2009.