Compliance


The Office of Management and Budget (OMB) issued the Circular A-133 2005 Compliance Supplement ( www.whitehouse.gov/omb/financial/2005_compliance_supp.html ), which is not a complete reissuance of the 2004 edition. The circular governs audits of entities that receive federal funds. The 2005 supplement addresses only new or significantly changed information on agency program requirements and clusters of programs. For 2005 planning and review purposes, therefore, auditors should use both the 2004 and 2005 supplements. The AICPA audit and accounting guide, Government Auditing Standards and Circular A-133 Audits (# 012745JA), is available at www.cpa2biz.com .

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.