New TQAs discuss 2019 Compliance Supplement’s guidance for performing single audits

By Ken Tysiac

New Technical Questions and Answers (TQAs) posted Tuesday by the AICPA provide nonauthoritative guidance related to single audits.

The Office of Management and Budget’s 2019 Compliance Supplement contains new guidance for single audits, which are compliance audits performed under the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.

TQAs 9110.24 to 9110.27 provide background information on revisions made in the 2019 Compliance Supplement that change how an auditor determines which compliance requirements to audit. The TQAs also discuss whether:

  • An auditor may provide an opinion on compliance if the supplement excludes certain direct and material types of compliance requirements from the scope of the audit;
  • The supplement’s change of approach requires the auditor to revise the report on compliance; and
  • An auditor may include an other-matter paragraph in the report to communicate information about the change to the supplement.

More information about single audits and the 2019 Compliance Supplement is available at the AICPA Governmental Audit Quality Center.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is the JofA’s editorial director.

SPONSORED REPORT

Get your clients ready for tax season

These year-end tax planning strategies address recent tax law changes enacted to help taxpayers deal with the pandemic, such as tax credits for sick leave and family leave and new rules for retirement plan distributions, as well as techniques for putting your clients in the best possible tax position.

RESOURCES

Keeping you informed and prepared amid the coronavirus crisis

We’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos on this page, along with curated items from our archives to help with uncertainty and disruption.