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Availability of Program-Specific Audit Guides 

In many cases, a federal agency's Office of Inspector General will have issued a program-specific audit guide that provides guidance on internal control, compliance requirements, suggested audit procedures, and audit reporting requirements for a particular federal program. The auditor should contact the Office of Inspector General of the federal agency to determine whether such a guide is available and current. When a current program-specific audit guide is available, the auditor should follow Government Auditing Standards and the guide when performing a program-specific audit. However, if there have been significant changes made to a program’s compliance requirements and the related program-specific audit guide has not been updated with regard to the changes, the auditor should follow section 235 of Circular A –133 and the OMB Circular A – 133 Compliance Supplement ( Compliance Supplement) in lieu of an outdated guide. If a guide is current with regard to a program's compliance requirements but has not been updated to conform to current authoritative auditing standards and requirements, such as current revisions of generally accepted auditing standards (GAAS) or ( Government Auditing Standards), the auditor should follow current applicable professional standards and guidance in lieu of the outdated or inconsistent standards and guidance in the guide.

When a program-specific audit guide is not available, the auditee and the auditor have basically the same responsibilities for the federal program as they have for an audit of a major program in a single audit.

Copyright © 2004 by the American Institute of Certified Public Accountants, Inc., New York, New York.

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AICPA Sends Congress Recommended Legislative Changes to New Partnership Audit Regime

Press Release The AICPA has submitted to Congress a set of recommended legislative changes to the new Partnership Audit Regime enacted as part of the Bipartisan Budget Act of 2015.
Published on November 17, 2017

Firm Mobility, Attest among Top Profession Trends in State Legislatures

Newsletter The CPA Advocate: March, 2017.  The comprehensive definition of attest, firm mobility taxation on professional services, and proposals related to human resources are key issues affecting the CPA profession that are arising in state legislatures in 2017.
Published on March 27, 2017

AICPA Recommends IRS Develop a New Income Tax Form to Improve S Corporation Shareholder Compliance

Newsletter The CPA Advocate: March, 2017.  The new form proposed by the AICPA would be a required attachment to any income tax return and would include items of income, loss, deduction or credit of an S corporation.
Published on March 27, 2017

House Judiciary Committee Approves Mobile Workforce Bill Identical Measure Introduced in U.S. Senate

Newsletter The CPA Advocate: March, 2017.  The Mobile Workforce State Income Tax Simplification Act of 2017, H.R. 1393, was approved by the House Judiciary Committee on March 22 and sent to the full U.S. House of Representatives for a vote.  An identical bill, S. 540, was introduced in the U.S. Senate.
Published on March 27, 2017

FASB Improves Master Trust Disclosures in Employee Benefit Plans

Newsletter The CPA Advocate: March, 2017.  The ASU was the result of work by the AICPA Employee Benefit Plan Expert Panel and the EBPAQC to alert FASB to the need for simplified employee benefit plan reporting.
Published on March 27, 2017

AICPA Proposes Guidelines to IRS for How to Allocate Dual Use Expenses of Exempt Organizations

Newsletter The CPA Advocate: March, 2017.  The Institute’s letter lists seven guidelines for the allocation of indirect expenses and provides examples to illustrate how the guidelines would be applied.
Published on March 27, 2017

In Profile Rep. Jim Renacci (R-Ohio)

Newsletter The CPA Advocate: March, 2017.  Congressman Renacci was elected to Congress in 2010 after a career as a CPA and entrepreneur that spanned more than 30 years.  He serves on the House Ways and Means Committee and the House Budget Committee.
Published on March 27, 2017

AICPA Urges Senate to Promptly Approve Pending Income Tax Treaties and Protocols

Newsletter The CPA Advocate: March, 2017.  Income tax treaties promote efficient tax administration and reduce barriers to trade that can help the U.S. job market flourish by paving the way for economic growth, the AICPA wrote.
Published on March 27, 2017

AICPAs Taxation VP Explains Institutes Approach to Tax Reform

Newsletter The CPA Advocate: March, 2017.  When it comes to advocacy related to tax reform, the AICPA is guided by two approaches: what’s in the public interest and what’s best for our members, according to Vice President for Taxation Edward S. Karl, CPA, CGMA.
Published on March 27, 2017

AICPA Technical Hotline

Overview The AICPA's Accounting and Auditing Technical Hotline provides members with free, high-quality technical assistance by phone concerning issues related to accounting and financial reporting, auditing and attestation, compilation, and review standards. The hotline is available from 9 a.m. to 8 p.m. Eastern time at 877.242.7212.
Published on March 24, 2017

Online Professional Library Product List

Overview This list provides product subscription pricing for the Online Professional Library. It contains the member and nonmember pricing for all publications included in the Online Professional Library.
Published on March 24, 2017

Networking

Article What you should know about who you should know. The typical, cynical version of the line goes like this: “It’s not what you know, it’s who you know.” Usually meaning that it—fill in the blank: getting into college, getting a job, getting a prom
Published on March 24, 2017

AICPA Outstanding Young CPA Award

Award The Young CPA award was created for recognition of a young AICPA member who demonstrates volunteerism and promotes the profession through work outside of his normal work duties.
Published on March 24, 2017

Tax Section News - 2017 Archives

Newsletter Tax Section News is a monthly e-newsletter specifically designed for Tax Section members. It provides in-depth articles on trending topics, announcements of new tools and resources, information on upcoming webcasts and conferences, and more.
Published on March 24, 2017

Estate Planning

Overview Clients are very concerned with planning their estate. Find out more about providing the Estate Planning services that will provide peace of mind for your clients.
Published on March 24, 2017

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