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 auditing federal programs...
Published on March 28, 2013
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
AICPA Advocacy Continuing on Proposed Revisions to Single Audit Rules
The CPA Advocate: March 27, 2013. The AICPA invites members to submit comments by April 26, 2013 to be considered as part of AICPA’s comment letter to OMB.
Published on March 27, 2013
AICPA Raises Concerns about Ideas for Potential Revisions to Single Audits
The CPA Advocate: June, 2012. The GAQC comment letter to OMB supports overall goals of potential revisions to single aud requirements but raised concerns about ideas for potential revisions
Published on June 12, 2012
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
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 March 29, 2013
Audits of FHA-Approved Participants and Related HUD Requirements
...may no longer require FHA to approve loan correspondents (mortgage brokers) participating in the FHA program and HUD would no longer require FHA to submit audited financial statements or audits
Published on May 14, 2013
AICPA Comments on Form 990 Redesign
June 4, 2004. This AICPA letter to the acting director of the IRS Exempt Organizations Division makes suggestions for redesigning Form 990.
Published on June 03, 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 April 02, 2013
AICPA Proposes Fiscal Year Flexibility for Emerging Small Businesses
This is AICPA's statement in support of allowing small businesses the flexibility to adopt any fiscal year end from April through November for tax purposes, as proposed in the Small Business Tax Flexibility Act of 2003 (H.R. 3225) for the record of the Subcommittee's September 23, 2004, hearing.
Published on May 20, 2013