This Governmental Audit Quality Center (GAQC) archived Web event titled, The 2013 OMB Compliance Supplement and Proposed Single Audit Reforms, is intended to provide members with key insights on the latest single audit activity. There is no question that 2013 is going to be an important year for single audits. In addition to normal activity such as the expected issuance of the 2013 Office of Management and Budget (OMB) Compliance Supplement (Supplement), OMB has also proposed changes to OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and other key grant-related requirements contained in the OMB cost circulars and administrative requirements (see GAQC Alert #211).
About the Event
This archived event will provide you with the details on the changes that you can expect to see in the 2013 Supplement. Additionally, the nuances of the OMB grant reform proposal are discussed. Even though any final changes to single audit requirements will not be issued until the end of year (and the future effective date is still unknown), your clients and staff have likely heard of the potential changes and may want to discuss them with you. This archived event will assist you in becoming familiar with key aspects of the proposed grant reforms for this purpose. Participants will hear from presenters who have first-hand experience with the Supplement and have been involved in the GAQC’s efforts to comment on the proposed reforms. Specifically, the following topics are addressed:
- The most significant changes you need to be aware of in the 2013 Supplement for the purpose of planning your 2013 single audits;
- The specifics of the OMB’s single audit proposal, significant changes expected, and potential implementation issues;
- How the underlying cost principles and administrative requirements may be affected;
- A summary of the AICPA comments on the OMB proposal;
- What is known about the timing and effective date of any future single audit changes; and
- Your questions!
About the Presenters
John Good, CPA, is an Executive Director in the Professional Practice Auditing team of Ernst & Young LLP with 20 years of experience. In his role, John liaises with the federal Office of Inspectors General Community and he develops firm guidance, trains staff, answers technical questions and performs various pre-issuance reviews of the firm's Yellow Book, Circular A-133 and compliance audit practice. He is active with the AICPA’s GAQC on matters related to Government Auditing Standards and Circular A-133 compliance audits and reviews related audit guides and practice aids. John is also a member of the AICPA State and Local Government Expert Panel (SLGEP).
Brian Schebler, CPA, is the National Director of Public Sector Services for McGladrey LLP. He primarily is responsible for the firm’s government, nonprofit, and compliance auditing approaches, as well as for the maintenance of its Government Industry Manual, Nonprofit Organizations Manual, Health Care Manual, and Compliance Audit Manual. Brian provides technical support to the firm's professionals and is involved with the design and presentation of internal and external professional education courses. Brian is the chairman of the GAQC Executive Committee and also serves on the Government Accountability Office (GAO) Advisory Council on Government Auditing Standards.
Caroline Walsh, CPA, is the Quality Control Partner and Chair of the Technical Standards Group for Macias Gini & O'Connell LLP. She is responsible for the firm’s quality control standards and policies and procedures related to the firm’s assurance practice. She provides technical support to the firm’s professional staff on accounting and auditing issues for local governments, nonprofit organizations and private companies. Caroline is a member of the GAQC Executive Committee and the California Society of CPAs Governmental Accounting and Auditing Committee, and currently serves on the Government Auditing Standards Board’s GAAP Hierarchy Advisory Committee.
Mary Foelster, CPA, is a Director at the AICPA where her primary responsibility is to address governmental auditing and accounting matters. She oversees the activities of the GAQC and staffs both the GAQC Executive Committee and the State and Local Government Expert Panel (SLGEP). In addition to managing the activities of the Center and various technical projects, Mary is also responsible for monitoring and analyzing federal regulatory and legislative developments affecting auditing or accounting in governmental environment.
Archived Web Event Listening Instructions
You should print out and have available, The 2013 OMB Compliance Supplement and Proposed Single Audit Reforms – Member Web Event Slides (PDF or PowerPoint). You may also want to refer to the AICPA response to the proposed OMB Circular A-133 changes, click here to view.
Thank you for your interest in this GAQC Event.
Click on the below link, to listen to the archived Web event: