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Tips for working with first-time single audit clients

September 29, 2021

美国为应对COVID-19大流行提供的联邦资金达到了历史水平. Various laws, including the Coronavirus Aid, Relief, 《正规nba买球app排行》和《国外正规买球app排行》为美国企业提供了数十亿美元, state and local governments, and nonprofits. While this funding has provided relief, especially for nonprofits, it may cause complications for many recipients.

Does your client need a single audit?

新提供的大流行病资金大多受单一审计规则约束. Not all recipients of this funding will need a single audit. However, when a non-federal entity spends $750,000 or more of federal awards in a fiscal year, a single audit is required. 

许多大流行病供资接受方以前从未进行过一次审计,可能不知道需要做什么. 您的现有客户可能需要第一次单独审计, 或者,你可能会开始与从未做过财务报表审计的新客户共事. 这里有一些建议可以帮助您的客户完成不断发展的单一审计过程.

Discuss your clients’ funding.

与你的客户谈谈,从2020年大流行开始到现在,他们获得了何种类型的资金. In some cases, 你可以考虑帮助他们审查他们的资助协议,以确定他们需要什么, and then on your end as the auditor. Additionally, 你可以给客户发邮件告知他们收到的资金的相关国外正规买球app排行,或者用最新的信息更新你的网站. 你的客户越早知道重要和相关的信息, 他们准备得越充分,你就能做得越好——所以这是一个双赢的局面.

鼓励你的客户积极主动,对他们收到的资金提出问题. For example, 当她知道她的组织将获得资助时,一位财务总监立即正规nba买球app排行了她的注册会计师. 她知道这笔资金有规定,但还不知道是否需要单独审计. Finding out early in the process was a huge benefit.  但许多组织可能不知道他们收到的资金的所有要求.

Communicate openly with your clients.

这段时间与你的客户进行开诚布公的沟通尤为重要. 了解你的客户是否审查过并真正理解他们获得的资金类型的指导方针是关键, as well as that they have procedures in place to comply.

Also, clients need to know — even if they are under the $750,000门槛-行政和其他要求的联邦资金适用,即使单一审计是不需要的. For example, the funds may only be spent for certain purposes. This is an important concept for clients to understand. 

Be aware of audit quality concerns.

一些首次进行单一审计的客户可能会担心审计成本,因为他们被要求进行额外的审计. While cost is always one consideration, 在这种情况下,关注公司的经验也很重要,以确保他们得到尽可能高质量的审计.

此外,作为审计人员,你们对公众负有执行高质量审计的责任. 单一审计具有重要的公共利益成分,因为它们涉及纳税人的钱,而联邦机构将其作为确定联邦裁决要求的遵守情况的行政责任的一部分. 审计质量应始终放在每一个审计人员的心上.

因为单一审计的复杂性和规则和合规要求的专业知识的必要性, 如果您没有执行审计业务的经验,您应该考虑是否应该接受单个审计业务. 也许你们可以考虑进行财务报表审计, 但是单一审计的其他选择可能是将你的客户介绍给在你的组织中有适当经验的人或另一家专门从事单一审计的公司. 

Alternatively, if you have some experience but not much, 你可以考虑聘请另一家公司进行发行前审查或其他类型的咨询协助,以帮助确保高质量的审计. You can use the AICPA’s Peer Reviewer Search tool 为你的客户找一个审计师,或者寻求咨询帮助. Additionally, AICPA的政府审计质量中心(GAQC)有其成员公司的名单和正规nba买球app排行信息 Find A Member page.

腾出时间接受继续教育,关注事态发展.

公司应确保审核员接受所有专业领域所需的培训. For example, 一般接受的政府审计标准(黄皮书)要求执行单一审计的审计师通过2018年黄皮书中列出的持续专业教育时间和主题保持其能力. 

The VSCPA can help! We have single audit education available to suite your needs. Find it here. Regarding the new COVID-19 funding, 你可能需要密切关注联邦机构提供的培训. 

Additionally, you can access the VSCPA Audit Resource Center and AICPA’s GAQC website (in particular its COVID-19 resource page, which outlines many resources). 您还可能希望正规nba买球app排行其他公司,了解它们的单一审计和大流行相关资源. 和你的同龄人谈谈他们在做什么,并从他们的经验中学习是很有用的. Keeping on top of things is important.

Looking ahead

The pandemic has drastically changed work in many industries, and the accounting profession is no different. 未来几年,将会有更多的单一审计由全国范围内更多的公共会计师事务所执行.

在不断努力成为客户信任的顾问的同时,跟上所有这些变化是很困难的. In these times, in addition to all the other tips above, it is especially important to be mindful of staff well-being. 组织需要为员工提供支持,这样他们才能保持敬业,避免倦怠. 关注福祉可以使工作人员更好地完成工作, which allows them to better serve their clients and, ultimately, contributes to enhancing audit quality. Check out the VSCPA Mental Health & Wellness Resource Center for articles, education and other help.

These are challenging times in the single audit arena for sure. But the tips above should help provide a pathway to success.