The Massachusetts Office for Victim Assistance (MOVA) is reviewing its policies and procedures to clarify what documentation its subrecipients must provide to support cost reimbursements, in response to a recent audit by the Massachusetts Office of State Auditor.
Even though audit industry standards and provisions in the Office of Management and Budget’s uniform guidance require firms conducting single audits to perform procedures to obtain an understanding of the auditee’s internal control over compliance, a recent review of audit firms conducted by the American Institute of Certified Public Accountants (AICPA) still found numerous instances of auditors conducting insufficient tests of internal control, an auditor with Moss Adams LLP recently told attendees at the AICPA Not-for-Profit Conference in National Harbor, Md.
Although the Office of Management and Budget (OMB) has yet to release a final version of the 2017 Compliance Supplement, the American Institute of Certified Public Accountants (AICPA) has made available a draft version of the supplement to help its members plan for conducting upcoming single audits.
The Council of the Inspectors General on Integrity and Efficiency (CIGIE) said it would be willing to work with the Office of Management and Budget (OMB) to help develop guidance on procedures that federal agency inspectors general (IGs) should follow when determining whether agencies are in compliance with the Improper Payments Elimination and Recovery Act (IPERA) of 2010 (Pub.
The Tennessee Housing Development Authority (THDA) will begin conducting desk reviews, and potentially will make site visits if feasible, to better monitor housing entities in the federal Community Investment Tax Credit (CITC) program, in response to a recent audit recommendation from the Tennessee Division of State Audit.