The Audit
Wizard
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AUDIT STANDARDS: The new audit standards are now effective. If you need assistance all you have to do is call and I will be happy to help you out any way that I can. AUDIT RISK ALERT: Please read the current NPO Audit Risk Alert before you start (or finish) your next NPO audit. There is also a Single Audit Risk Alert that you should read if you are performing an A-133 audit. In addition to the above there is a special Audit Risk Alert on the new Auditing Standards. YELLOW BOOK: The new Yellow Book was issued on February 1, 2007. Go to www.gao.gov and click on Government Auditing Standards (The Yellow Book) January 2007 Revision. The new Yellow Book is not currently effective, however there are wording changes in it that conform to the new audit standards. Also, the new audit standards will become effective prior to the new Yellow Book. Just remember that the current Yellow Book adopts the AICPA standards on a continuing basis and therefore as the new standards become effective they will apply to Yellow Book audits. SINGLE AUDIT NEWS: For the most current audit reports go to the AICPA Government Quality Control Center homepage. COMPLIANCE SUPPLEMENT:. OMB issues a revised Compliance Supplement every Spring. The latest Compliance Supplement should be used in planning all A-133 audits.
The
supplement is available through the OMB Home Page. Go to "Documents" then
go to "Grants Management" then see the A-133 literature.
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