Article

Data Collection Form Revisions Proposed

April 30, 2018

In a Federal Register notice issued on April 3, the Federal Audit Clearinghouse (“FAC”) is proposing amendments to the Data Collection Form (“DCF”). Titled Proposed Information Collection; Comment Request; Data Collection Form for Reporting on Audits of States, Local Governments, Indian Tribes, Institutions of Higher Education, and Non-Profit Organizations, the notice outlines four significant changes to the Data Collection. The final Form changes would be effective for fiscal periods ending in 2019, 2020 and 2021.

Those proposed changes include:

  • Expanding the audit finding information that auditors include in the DCF to contain the audit finding’s actual text;
  • Asking auditors to state whether they sent a written communication to the auditee concerning any non-audit finding issues should be directed to those responsible for governance matters;
  • Requiring auditees to disclose their corrective action plans; and
  • Requiring auditees to include notes to the schedule of expenditures of federal awards.

The notice also says that non-federal entities who failed to meet the requiring submission of a single audit report can voluntarily state that they fell short of the reporting threshold. Any voluntarily provided information will be published on the Federal Audit Clearinghouse website.

Comments on the FAC notice are due Monday, June 4. Anyone who would like their feedback to be part of the Governmental Audit Quality Center’s response to the proposal can email their comments to gaqc@aicpa.org by Monday, May, 21.