The Data Collection Form (SF-SAC or the Form) is a federal form that summarizes the results of each single audit of federal awards and is signed by both the auditee and auditor. It is required to be submitted by the auditee to the Federal Audit Clearinghouse (FAC), along with a single audit reporting package. The U.S. Office of Management and Budget (OMB) is required to update the Form periodically.
Members that perform single audits or are recipients of federal awards should be aware that the American Institute of CPAs (AICPA) recently issued comments on OMB’s Federal Register Notice proposing changes to the SF-SAC and the related Form instructions. The AICPA’s letter included overarching comments on various aspects of the proposal including the required submission of “unlocked and unencrypted” auditor’s reports; certifications relating to personally identifiable information; increased level of effort to complete the new Form; changes to the Form submission process; and transitional issues. Additionally, the letter includes several other comments on specific changes being proposed to the Form and its instructions.
Once issued, the new SF-SAC and instructions are proposed to be applicable for audit periods ending in 2013, 2014 and 2015. The FAC has issued guidance on its website regarding 2013 single audits that are completed prior to the final Form’s issuance.
More details about OMB’s proposed SF-SAC revisions can be found on the website of the AICPA’s Governmental Audit Quality Center.