AICPA submits comments on single audit engagements form

The AICPA’s Governmental Audit Quality Center (GAQC) issued a comment letter on proposed revisions to the federal Data Collection Form required to be completed by auditors and auditees on single audit engagements and submitted to the Federal Audit Clearinghouse (FAC). 

The main changes proposed would expand the information to be reported on the Form, including a requirement that the auditor’s detailed findings be cut and pasted from the auditor’s reports into the Form.  The GAQC generally supported the federal efforts to update the Form, but expressed concern that the proposed requirements may increase the cost of single audits. 

The GAQC also suggested that, longer term, the FAC should work to identify more efficient and effective technological approaches to getting the information federal agencies need from single audits.