Guidance on the reporting of COVID-19 awards on an accrual basis SEFA

The AICPA Governmental Audit Quality Center (GAQC) prepared this document to provide non-authoritative guidance to assist auditees and auditors as they consider the complexities involved with funding provided under the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the timing of when that funding should be included on the Schedule of Expenditures of Federal Awards (SEFA) for single audit purposes. While this document focuses on CARES Act funding, its guidance may also be considered for funding emerging out of the subsequent Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA) and the American Rescue Plan Act (ARPA).