| Dear Center Members: |
This GAQC Alert informs you about the following important member information:
- Our annual GAQC member value survey results.
- Recent GAQC advocacy efforts on your behalf.
- Registration information for upcoming continuing professional education (CPE) rebroadcasts of the 2023 GAQC Required Webcast, an event on the 2023 Office of Management and Budget (OMB) Compliance Supplement, and our 4-part single audit fundamentals series.
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Member Survey Results
We received responses from over 1,500 members on the GAQC member value survey included in our annual 2022 GAQC membership requirements questionnaire. Overall, members continue to find very high value in their membership and the related impact on their governmental audit quality. Our GAQC Alerts and member Web events also scored very highly in terms of keeping members informed about latest developments. One area that we plan to work on includes our Web site. While we are part of the AICPA & CIMA Web platform and cannot change the basics of the site, we can try to make things easier for you to find on the Government page (where our GAQC content is now located). On the advocacy front, we also learned from the survey that we need to do a better job communicating to members our efforts throughout the year. See the next section of this alert for a summary of recent advocacy efforts.
Advocacy Update
On behalf of our members, the GAQC staff and its Executive Committee members spend considerable time working with federal agencies and other stakeholders on various matters to help ensure that federal or other relevant audit guidance issued is clear, up to date, and in conformity with professional auditing standards. Our advocacy activities since March 2023 include the following:
- Held a virtual Spring Single Audit Roundtable meeting to discuss matters of mutual interest with almost 100 federal, state, and GAQC committee participants.
- Submitted detailed comments to OMB on vett draft sections of the 2023 Compliance Supplement. In total, we submitted comments on almost 100 individual program sections.
- Issued a comment letter to OMB on the recently issued 2023 OMB Compliance Supplement in response to a related Federal Register (FR) Notice. OMB uses these comments as it begins the preparation process for the 2024 OMB Compliance Supplement. This letter was issued on July 21st and has not yet been publicly posted by OMB. We will provide a link to the letter in a future GAQC Alert.
- Issued a comment letter to OMB on a Request for Information asking for ideas on future revisions to the Uniform Guidance. GAQC Alert #452 explains more about this proposal. We expect a future FR notice that will propose changes to the Uniform Guidance this Fall.
- Informal comments were also submitted to the Department of Health and Human Services (HHS) on potential changes to the definition of questioned costs being considered for the future revision to the Uniform Guidance.
- Issued comments on a recent proposed Department of Education FR notice which would add problematic related party and other required footnotes to the financial statements of institutions of higher education receiving financial assistance under Title IV of the Higher Education Act. Members that audit institutions of higher education should review the proposal to learn more.
- Submitted informal comments to the U.S. Department of Treasury on proposed guidance relevant to for-profit recipients of certain Treasury broadband funding.
- Issued comments to the Department of Agriculture on a FR notice proposing changes to the audit requirements for Rural Utilities Service awardees.
- Provided comments to the U.S. Government Accountability Office on proposed revisions to Government Auditing Standards. GAQC Alert #452 explains more about this proposal.
- Provided recommendations to the U.S. Department of Energy (DOE) as it considers and evaluates its current regulatory guidance for audits of for-profit recipients of DOE funding due to the expected increase in such funding from the Infrastructure Investment and Jobs Act.
Other advocacy efforts have included meetings with OMB and GAO on various single audit and other matters, the General Services Administration on upcoming changes to the Federal Audit Clearinghouse, HHS on the Provider Relief Fund, Education on the Student Financial Assistance Cluster, the Department of Housing and Urban Development (HUD) to emphasize that updates are needed to the HUD Consolidated Audit Guide, the Federal Communications Commission on two federal programs they may scope into the single audit, and the Social Security Administration on the Social Security Disability Insurance program and its higher risk status.
GAQC Rebroadcasts
Annual Required GAQC Webcast. There is one final option for a CPE rebroadcast of this required event on September 8, 2023, from 2:00PM – 4:00PM (Eastern Time). Access the member registration page. Remember that you can always access the no CPE archive if you are not interested in CPE.
2023 Compliance Supplement Event. This popular Web event on the 2023 Compliance Supplement will be rebroadcast for CPE on Tuesday, September 12, 2023, from 1:00 PM -3:00 PM (Eastern Time). Access the member registration page. Remember that you can always access the no CPE archive if you are not interested in CPE.
Single Audit Fundamentals 4-Part Series. The next CPE rebroadcast of this popular GAQC series will be held on September 21-22, 2023. It is intended to help members train inexperienced staff or offer a refresher for staff that perform single audits. Remember that you can always access the no-CPE archive of this series at any time. Access member registration information using the following links under each event title:
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Sincerely,
AICPA Governmental Audit Quality Center |
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