Auditors Can Aid in Recovery Act Audit Planning

Washington, Aug. 23 – The extra reporting and oversight requirements necessitated by the American Recovery and Reinvestment Act, Pub. L. 111-5, may overwhelm some auditees new to the single audit process, so auditors are advised to provide extra assistance in helping their clients plan for these audits.

Several states and their auditors collaborated with the Office of Management and Budget in a pilot project late last year to determine if providing early reports of Circular A-133 single audit findings on American Recovery and Reinvestment Act programs would limit the number of control deficiencies in these programs. State auditors identified material weaknesses and significant deficiencies in selected Recovery Act programs three months sooner than the traditional nine-month timeframe.