Audits of Federal Funds (Single Audits)
Entities that receive federal funds including states, local governments, and not-for-profit organizations (NPOs), are subject to audit requirements commonly referred to as “single audits” under the Single Audit Act of 1984, as amended in 1996. The Single Audit Act was enacted to standardize the requirements for...
Published on March 28, 2013
Potts v. SEC
...for the AICPA in support of the petition of Robert D. Potts. The SEC sanctioned Potts for ""improper professional conduct"" in performing duties as a concurring reviewer during an audit of certain financial statements in 1988 and 1989
Published on September 21, 2006
AICPA Promotes XBRL in Comments to Treasury Department
The CPA Advocate: December, 2014. The AICPA said XBRL is the only available data standard to adequately meet the requirements of the DATA Act.
Published on December 18, 2014
AICPA Comments on Proposed Single Audit Revisions
The CPA Advocate: July, 2013. The letter to OMB supports the overall direction of the proposed rule changes, points out significant concerns and expresses appreciation for OMB’s responsiveness to earlier AICPA comments.
Published on July 18, 2013
Arizona Society of CPAs and CPA Lawmaker Secure Auditor Rotation Victory
The CPA Advocate: June, 2012. The AICPA congratulated the Arizona Society of CPAs and Arizona CPA lawmaker Senator Richard Crandall on their successful repeal of a provision passed in 2011 that would have required charter schools to change auditors every six years.
Published on June 13, 2012
Federal Legislative and Regulatory Issues
This page highlights the advocacy issues in which the Congressional & Political Affairs Team is advocating on behalf of the profession, and also those issues that the team has recently followed.
Published on October 28, 2014
AICPA Comments on Proposed Revisions to Single Audit Data Collection Form
The CPA Advocate: July, 2013. The AICPA supports OMB updating both the Data Collection Form and its instructions; however, the AICPA’s letter also provides a number of overarching and specific comments.
Published on July 18, 2013
AICPA Provides Informal Feedback on the Draft 2015 OMB Compliance Supplement
The CPA Advocate: February, 2015. The comments focused on OMB’s incorporation of the new OMB Uniform Guidance for Federal Awards into the Supplement.
Published on February 24, 2015
AICPA Meets with FASB about Uniqueness of Employee Benefit Plan Financial Statements
...CPA Advocate: January, 2014. AICPA employee benefit plan panels are discussing with FASB how the Board can best incorporate the consideration of employee benefit plans into its standard-setting process
Published on January 30, 2014
The Congressional and Political Affairs team has provided useful links to congressional government agencies and AICPA centers.
Published on September 26, 2012