Statements of Position

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Description

This proposed statement of position (SOP) provides guidance on the auditor's responsibilities when conducting an audit in accordance with Office of Management and Budget (OMB) Circular A-133, Audits of Institutions of Higher Education and Other Non-profit Institutions. This proposed SOP would amend the following AICPA audit and accounting guides: 1. Audits of Voluntary Health and Welfare Organizations; 2. Audits of Colleges and Universities; 3. Audits of Certain Nonprofit Organizations. In addition to providing an overview of the auditor's responsibilities in an audit of federal awards, this proposed SOP: 1. Describes the applicability of OMB Circular A-133. 2. Summarizes the differences between Circular A-133 and OMB Circular A-128, Audits of State and Local Governments. 3. Describes the auditor's responsibility for considering the internal control structure and performing tests of compliance with certain laws and regulations. 4. Describes the auditor's responsibility for reporting and provides examples of the reports required by Circular A-133.

Publication Date

1991

Relational Format

Book

Keywords

Nonprofit organizations -- Accounting -- Standards -- United States; Nonprofit organizations -- United States -- Auditing; Federal aid to nonprofit organizations -- Accounting -- Standards -- United States

Disciplines

Accounting | Taxation

Comments

Originally published by: American Institute of Certified Public Accountants; Copyright and permission to reprint held by: American Institute of Certified Public Accountants.

Proposed statement of position : audits of not-for-profit organizations receiving federal awards;Audits of not-for-profit organizations receiving federal awards; Exposure draft (American Institute of Certified Public Accountants), 1991, Aug. 30

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