| Dear Center Members: |
| We would like to wish our members a joyous holiday season! We also hope that you will be able to take some time off to disconnect and get ready for the new year. As the year closes, we are sending this GAQC Alert to inform you about the following activities and developments: |
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SVOG Illustrative Guidance
As noted in GAQC Alert #445, for-profit recipients of the SVOG program are able to elect a compliance examination engagement to meet the U.S. Small Business Association audit requirements. The GAQC has just posted illustrative attestation reports and a schedule of findings and responses to assist practitioners performing these engagements. Access the illustrations which include two unmodified reports (one with reportable findings and one with no reportable findings) and one modified opinion example. The illustrative reports and schedule have been prepared in accordance with AT-C Section 315, Compliance Examinations, and Government Auditing Standards (GAGAS), as applicable.
For more information about these engagements, see GAQC Alert #445 and the SVOG Web Site. To further assist practitioners performing these for-profit engagements, the GAQC will hold a related Web event in February 2023 (see "Upcoming GAQC Web Events" section below).
Updated Audit Reports
The GAS-SA Guide and the SLG Guide are key resources for auditors and include various illustrative audit reports. As a public service, the GAQC has again posted a sampling of the reports included in the 2022 edition of both guides in the GAQC Illustrative Auditor’s Reports Resource Center. Auditors should exercise professional judgment in any situation not specifically addressed in the illustrative reports provided. Keep in mind that the GAQC is only providing a sampling of reports. Auditors may access additional report illustrations in each specific guide which may be purchased at the AICPA Store (see purchase links on guide titles above).
Upcoming GAQC Web Events
The following provides registration information for the following live GAQC Web events to be held in the early part of 2023. All of the events will be held from 1:00 PM – 3:00 PM (Eastern Time):
Thursday, January 12, 2023, GASB's Lease and SBITA Standards: Practical Implications and Adoption Challenges. GASB's requirements for leases and subscription-based information technology arrangements (SBITA) have changed. This event will cover key accounting and auditing issues you need to know.
Thursday, January 26, 2023, GAQC 2023 Single Audit Lightning Round. This annual GAQC event will cover commonly asked single audit questions that the GAQC has received to help you in performing single audits or other audits of federal assistance.
Thursday, February 9, 2023, Auditing For-Profit Entities Receiving the Shuttered Venue Operators Grant. This event will help you understand how to audit for-profit recipients of the SVOG program.
GAQC Membership Questionnaire
The annual mandatory GAQC Membership Requirements Compliance Assessment Questionnaire for member firms was e-mailed on December 13, 2022. If you did not receive it for some reason, send an e-mail to gaqc@aicpa.org. Responses are due no later than Tuesday, January 31, 2023. Our state auditor members should look for their version of the questionnaire via e-mail in the coming days.
GAQC Senior Manager Position
The GAQC is currently recruiting for a Senior Manager position on our team (see job announcement). This position can work remotely in the U.S. The individual should have solid knowledge of governmental auditing including Government Auditing Standards, single audit rules, and other types of compliance audits. While not required, knowledge of state and local government accounting is also a plus. In addition, the individual should have strong skills in the following areas: project management, organizational, written/oral communication, decision-making, and problem-solving. Candidates should be a CPA with a minimum of 7 years of experience. The AICPA has a work environment that offers work/life balance and is committed to diversity and inclusion. Interested individuals can access the job posting to apply for the position.
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Sincerely,
AICPA Governmental Audit Quality Center |
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| In This Alert |
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| GAQC COVID-19 Resources |
| The GAQC continuously updates its GAQC Archived COVID-19 Resources toolkit. Make sure you are up-to-speed by checking it periodically to access archived alerts and Web events, practice aids, articles, and more. |
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| Additional Resources |
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| Stay Informed |
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