AICPA Issues Technical Practice Aid on Providing Opinion on SEFAs


AICPA staff issued TPA 9160.27, “Providing Opinion on a Schedule of Expenditures of Federal Awards [SEFA] in Relation to an Entity’s Financial Statements as a Whole When the Schedule of Expenditures of Federal Awards Is on a Different Basis of Accounting Than the Financial Statements.” Provided certain conditions are met, the auditor may provide an opinion on whether the SEFA is presented fairly in all material respects in relation to the financial statements as a whole (often referred to as providing an in-relation-to opinion).

 

More from the JofA:

 

 Find us on Facebook  |   Follow us on Twitter  |   View JofA videos

NEWS

IRS sets start date for tax season

The IRS announced that tax season will start in late January and that it will issue refunds to taxpayers despite the partial shutdown of the federal government.

PODCAST

Why CPAs can’t wait on automation tools

What do accounting firms waiting on others to develop AI, automation, and data analytics tools have in common with a baseball fan sitting in a stadium filling with water at an exponential rate? The answer could determine your firm’s fate.