| Dear Center Members: |
This GAQC Alert provides the following:
- Registration information for an upcoming Governmental Audit Quality Center (GAQC) Web event, Navigating Indirect Costs in Your Single Audit, to be held on Thursday, January 17, 2019, from 1:00 PM – 3:00 PM (Eastern Time).
- A reminder to begin preparing for the upcoming 2018 GAQC Membership Requirement Compliance Assessment Questionnaire (Questionnaire).
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Indirect Costs Web Event
Many organizations subject to a single audit must engage in the process of negotiating federal indirect cost rates or allocating and billing indirect costs to state and federal sponsors. These indirect costs can represent a significant portion of the reimbursed grant dollars from state and federal agencies. Therefore, auditors need to clearly understand the process for negotiating indirect cost rates and allocating/billing indirect costs to better serve your clients and mitigate audit risk. Specifically, this GAQC Web event will provide participants:
- An overview of the Uniform Guidance and related OMB Compliance Supplement guidance;
- A discussion of the most common allocation methodologies and types of rates;
- A discussion of internal controls over indirect costs;
- Information about the most common areas of concern; and
- Opportunities to ask questions.
The presenters for this event are: Troy Rector, CPA, Clark Nuber PS and Tasha Repp, CPA, Moss Adams LLP.
GAQC Member Registration: GAQC members can register now using the continuing professional education (CPE) or no-CPE options.
To ensure you receive CPE for this Web event, please complete your online registration by noon on Thursday, January 17th. If you are interested in registering a group, the above Web event registration page provides you with "how to" and pricing information. A "Webcast Group Viewing" document also provides additional instructions.
2018 GAQC Membership Compliance Questionnaire
Designated audit quality partners of member firms that joined the GAQC on or before September 30, 2018, will receive the mandatory Questionnaire in the next few weeks. The Questionnaire addresses firm compliance with the GAQC membership requirements as of December 31, 2018.
The purpose of the Questionnaire is to ensure that all members comply with the GAQC membership requirements which are a very important aspect of your membership. It is through adherence to these requirements that your firm demonstrates its commitment to audit quality. Please ensure that you read and follow all instructions associated with the Questionnaire when you receive it. Feel free to contact the Center at gaqc@aicpa.org with any questions.
For our state audit organization members, your version of the Questionnaire will be sent in the first quarter of 2019.* * * * *
Sincerely,
AICPA Governmental Audit Quality Center |
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| In This Alert |
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| Last Chance! |
| There are 2 remaining CPE rebroadcasts of the GAQC required Webcast, 2018 GAQC Annual Update Webcast, on December 19, 2018, and January 10, 2019. Both events are from 1:00 PM - 3:00 PM (Eastern Time). Access registration information. |
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| Additional Resources |
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| Stay Informed |
We welcome any suggestions or questions - please send them by e-mail at GAQC@aicpa.org.
Members of the Governmental Audit Quality Center (GAQC) may only reproduce and distribute GAQC Alerts internally within the firm or state audit organization (SAO) to other Center member firm/SAO personnel as part of the organizations' professional services. For information about permission to copy any part of these documents for redistribution or inclusion in other work, please click on the copyright notice below or phone the copyright permission hotline (919) 402-4031.
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