No-CPE Event News
As noted in GAQC Alert #412, due to a Web event registration platform change, we experienced a period where our GAQC Web events could only accommodate CPE attendees. The good news is that this issue has been resolved and we are again able to offer a no-CPE option for our live events. The only change you may notice is that there will be separate registration links for the CPE and no-CPE options. We apologize for the inconvenience this may have caused. Hopefully, members that did not wish to obtain CPE but were interested in the learning opportunities we have been providing have been accessing our archived member events.
Single Audit Q&A Event Registration
The next GAQC live Web event, Single Audit Lightning Round, will be held on January 28, 2021, from 1:00 PM – 3:00 PM (Eastern Time). This event will include a panel of current and former GAQC Executive Committee members responding to single audit questions, including many that came in during our December 10, 2020, event on the Supplement addendum. It will provide participants with a fast-paced lightning round discussion of COVID-19-related matters, other single audit topics, and common questions the GAQC has received over the past year. Topics to be covered include:
- COVID-19 funding impact on single audits.
- 2020 Compliance Supplement challenges and issues.
- Other challenging single audit concepts.
- Best practice tips.
Presenters for the event include Stephen Blann (Rehmann Robson LLC); Erica Forhan (Moss Adams); Lindsey Oakley (BKD); and Tom Sneeringer (RSM).
GAQC Member Registration with CPE (fee). Access the CPE registration page. Be sure to use the GAQC member discount code “GAQC” to get the discounted price of $79.20.
GAQC Member Registration with no-CPE (free). Access the no-CPE registration page.
Revised GAQC Event Schedule
Due to the pandemic and its implications on governmental audits, the GAQC is modifying the upcoming live Web event calendar as follows (all events are between 1:00 PM – 3:00 PM Eastern Time):
- January 28, 2021, Single Audit Lightning Round (see summary and registration information above).
- February 17, 2021, Government Auditing Standards Fundamentals (offering this event to assist the many auditors that are performing audits under the Yellow Book for the first time due to pandemic funding)
- March 11, 2021, Uniform Guidance Revisions: What You Need to Know
- April 13, 2021, Navigating State and Local Government Component Units
- May 4, 2021, Annual Required GAQC Webcast
- May 20, 2021, State and Local Government Audit Planning Considerations
- June 30, 2021, 2021 OMB Compliance Supplement and Single Audit Update
Mark your calendars and watch for registration information for the above events, as well as upcoming event rebroadcasts, in future GAQC Alerts.
Addendum Posting
As we informed you in GAQC Alert #419, OMB released its long-awaited Supplement addendum on December 22, 2020. You should be aware that the GAQC posted the Supplement addendum by section on the GAQC 2020 OMB Compliance Supplement and Related Addendum Web page. To assist members, the page also includes GAQC observations about the Supplement addendum files. We encourage you to review these observations to help you learn key points about the various sections.
PRF News
As noted in GAQC Alert #419, the COVID-19 Economic Relief Bill that was passed at the end of 2020 addresses the concept of lost revenue for the PRF program instructing, among other things, that healthcare providers may calculate lost revenues using the Frequently Asked Questions guidance released by the U.S. Department of Health and Human Services (HHS) in June 2020. While we are still waiting for HHS to provide clarifications on the impact of this development in its upcoming reporting guidance for PRF, we have been able to gain clarity in one area. In response to a question we submitted, the HHS Office of Inspector General staff has confirmed that there will be no change to the Supplement addendum section for the PRF program due to the new bill. In particular, the guidance included in the Other Information section which instructs that PRF expenditures and lost revenue are not to be included on schedules of expenditures of federal awards until December 31, 2020, year-ends and later, will not change.
COVID-19 Economic Relief Bill
We have continued reviewing this new bill to identify provisions having potential single audit implications. To date we are aware of two new programs and implications for existing programs as follows:
Emergency Rental Assistance. This new Treasury program provides $25 billion to states, U.S. Territories, local governments, and Indian tribes. Access more information about this program including a listing of eligible local governments and the program terms and conditions (T&C) on the Treasury Emergency Rental Assistance Program Web page. Note that per the T&C, this program will be subject to single audit. However, there has not yet been an Assistance Listing number assigned.
Shuttered Venue Operator Grant Program. This new program administered by the Small Business Administration (SBA) will disburse $15 billion in grants to shuttered venues, theaters and museums. It is possible that some of the recipients of this funding could be entities for which single audit rules would normally apply (e.g., not-for-profit entities). In response to our inquiry about the applicability of single audit to this new program, SBA staff indicated that they are still in process of developing program policy and, therefore, they were not yet able to provide an answer. However, they did state that more guidance will be forthcoming.
Existing Programs. There are many existing programs for which significant new funding has been provided. For example, the original 2020 funding for the relatively new Education Stabilization Fund totaled $30 billion. The new bill adds almost $82 billion dollars to this program.
We are aware that OMB is currently working with the various federal agencies, similar to its efforts with previous pandemic funding, to identify which new and existing programs received funding under the COVID-19 Economic Relief Bill. We will follow-up with you in future GAQC Alerts as we have more information to share.
As always, thank you for your continued support and your dedication to audit quality during this challenging time. Also wishing you a very happy and healthy 2021 from the entire GAQC team!
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Sincerely,
AICPA Governmental Audit Quality Center
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