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Recovery Act Resource Center 

The AICPA Governmental Audit Quality Center (GAQC) helps member CPA firms meet the challenges of performing quality audits. The passage of the American Recovery and Reinvestment Act of 2009 (Recovery Act) is certain to result in new challenges for auditors that perform audits under Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. This GAQC Resource Center is intended to provide members with a “one-stop” repository location to more easily locate various GAQC Recovery Act communications, other related GAQC tools and resources, and links to other Web sites that may provide information to assist auditors going forward. Keep in mind that the Center will continue to push timely information and updates out to member firms via GAQC Alerts, GAQC Updates, and Center calls.

If you are not a member firm and would like to learn more about membership in the GAQC, click here.

GAQC Tools

OMB Guidance on the Recovery Act

Other Useful Web Sites, Tools, and Information

Background

The Recovery Act, issued in early 2009, is capturing news headlines around the country. Approximately $300 billion dollars in additional federal funds are being passed down from federal agencies to entities that are generally subject to single audit such as state and local governments and institutions of higher education. These federal funds are intended to either supplement existing federal programs (e.g., existing block grants for states), create new programs, or to provide more broad fiscal relief. In some cases, the funds will be passed directly to states or institutions of higher education and spent at that level. In other cases, direct recipients of Recovery Act federal funds will pass the funds through to subrecipients such as local governments or not-for-profit organizations. For this reason, the law mandates that there be an unprecedented amount of oversight and transparency around the spending of all funds associated with the law. Single audits will be impacted starting with June 30, 2009, year-ends, with more of an effect expected for single audits of year-ends thereafter. 

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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

Cybersecurity Resource Center

Tools Find information and links to valuable resources for CPAs providing cybersecurity advisory and assurance services.
Published on March 27, 2017

AICPA Advocacy

Home On behalf of its members, the AICPA monitors and advocates on legislative and other matters that affect the accounting profession. Working with state CPA societies and other professional organizations, the AICPA provides information to and educates federal, state and local policymakers regarding key issues.
Published on March 27, 2017

Tax Advocacy

Home AICPA Tax Advocacy teams continually monitor and advocate on legislative, regulatory and administrative tax matters on behalf of our members.
Published on March 27, 2017

Ethics Enforcement

Report The Professional Ethics Division investigates potential disciplinary matters involving members of the AICPA and state CPA societies participating in the Joint Ethics Enforcement Program. PEEC Non-Enforcement Policy - Members Who Perform PCAOB Audits
Published on March 27, 2017

AICPA Disciplinary Report for 2016

Report The following is a statistical report of the disciplinary activity of the AICPA, including cases investigated by the Professional Ethics Division, cases handled by the Joint Trial Board Division and actions taken under the automatic provisions of the AICPA bylaws.  The AICPA and state CPA societies participate in the Joint
Published on March 27, 2017

Applying the 3.8% Surtax Chart

Tools The following chart from Bob Keebler to individuals, charitable remainder trusts, and charitable lead trusts.
Published on March 27, 2017

Roth IRA Distribution Flowchart

Tools Bob Keebler has shared this flowchart with PFP members to highlight Roth IRA distribution considerations.
Published on March 27, 2017

Roth Quadrants Reference Chart

Tools This handy, informative chart from Bob Keebler covers 8 aspects of Roth IRAs.
Published on March 27, 2017

IRA Distribution Flowchart

Overview Bob Keebler has shared this flowchart with PFP members to highlight traditional IRA distribution considerations.
Published on March 27, 2017

75 Best Income Tax Strategies for Financial Professionals to Generate TAX ALPHA

Chart This chart from Bob Keebler offers for 75 planning ideas to generate TAX ALPHA™ for your clients.
Published on March 27, 2017

Generation Skipping Transfer Tax Chart

Tools This chart from Bob Keebler provides an overview of generation skipping transfer tax issues, the use of the Dynasty Trust, and automatic allocation rules.
Published on March 27, 2017

Capital Gains Harvesting Chart

Tools The Capital Gains Harvesting Chart from Bob Keebler helps practitioners determine if this time sensitive strategy makes sense for their clients.
Published on March 27, 2017

Bracket Management Chart

Tools Bracket Management Chart illustrates 15 impactful bracket management ideas.
Published on March 27, 2017

Tax Asset Buckets

Presentation Leading experts Bob Keebler and Mel Schwarz will help you keep up and stay ahead through this in-depth web seminar discussing: A review of the decisions made by Congress or the impacts of the changes from the Fiscal Cliff; The impact on your clients and their estates, taxes, and financial
Published on March 27, 2017

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