| Dear Center Members: |
The purpose of this GAQC Alert is to inform you of the following matters:
- Registration information is now available for the next upcoming GAQC live Web event, Independence in Yellow Book Audits and Other Ethics Related Updates, to be held on Thursday, December 15, 2022;
- New GAQC resources to help less experienced auditors get ready for single audits; and
- A heads up that the required GAQC firm membership compliance questionnaire will be coming soon.
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Yellow Book Independence Web Event
Register now for the next live GAQC Web event, Independence in Yellow Book Audits and Other Ethics Related Updates. It will be held on Thursday, December 15, 2022, from 1:00 – 3:00 PM (Eastern Time). This GAQC Web event is intended to provide a refresher on independence considerations in audits performed under Government Auditing Standards (also referred to as the Yellow Book), which continues to be an emphasis area both in federal quality control reviews and peer reviews. The session will provide you with the following information:
- An overview of the 2018 Yellow Book independence rules with a focus on the performance of nonaudit services concepts;
- Application of Yellow Book independence concepts to real life scenarios;
- Best practices and tips for preparing related documentation, especially when performing nonaudit services; and
- A high-level update on other AICPA ethics activities including the AICPA Ethics Interpretation, State and Local Government Client Affiliates, effective for years beginning after December 31, 2021.
The presenters for this event are: Nancy Miller, CPA, KPMG, and Rachel Stushek, CPA, Grant Thornton.
GAQC Member Registration with CPE (fee). Access the member CPE registration page.
GAQC Member Registration with no-CPE (free). Access the member no-CPE registration page.
New GAQC Resources for Auditors
Single audits have become more complex over the past few years for both auditors and auditees because of the volume of new and unusual pandemic programs, lack of initial guidance from federal funders, as well as continuously changing compliance requirements, new regulations, and late and changing audit guidance. In addition, thousands of organizations that received federal pandemic funding have become subject to single audit or similar compliance audit rules for the first time. To further our goals for promoting the highest quality single audits, the GAQC has released a few new resources to help less experienced auditors to get ready for single audits, as follows:
These resources and others are free and available to everyone. We encourage our members, especially those newer to single audits, to check out these resources.
GAQC Firm Membership Questionnaire
The annual mandatory GAQC Membership Requirements Compliance Assessment Questionnaire will be e-mailed to GAQC firms no later than mid-December. Firms should ensure that the Designated Audit Quality Partner has viewed the 2022 Annual Required Webcast (held in May 2022) as it is an important membership requirement. If the partner has yet to view the Webcast, a no CPE archive is available and should be viewed prior to completing the questionnaire.
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Sincerely,
AICPA Governmental Audit Quality Center |
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| In This Alert |
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| More is Coming on SVOG! |
| The Shuttered Venue Operators Grant (SVOG) went to thousands of non-federal entities and for-profits. Guidance for the for-profit recipients has been slow coming from the Small Business Administration, but GAQC has been working diligently behind the scenes and progress has been made. We are currently working on illustrative reports for the for-profit alternative compliance examination and are firming up a date in early February 2023 for a GAQC Web event that will focus on auditing SVOG for-profit recipients. Stay tuned! In the meantime, members may submit questions on auditing the SVOG program to gaqc@aicpa.org |
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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.
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