GAQC Releases Updated Illustrative HUD Reports

This GAQC Alert provides you with important updates in several key areas as follows:

• The issuance of the Governmental Audit Quality Center (GAQC) comment letter on proposed changes to the single audit rules and other key grant reforms;
• Guidance posted on the Federal Audit Clearinghouse (FAC) Web site regarding 2013 submissions in light of the new Data Collection Form (DCF) not yet being issued;
• Another update to the U.S. Department of Housing and Urban Development (HUD) Consolidated Audit Guide for Audits of HUD Programs (HUD Guide).

GAQC Single Audit Changes

On June 2, 2013, the GAQC issued its comment letter on the Office of Management and Budget (OMB) Proposed Rule, Reform of Federal Policies Relating to Grants and Cooperative Agreements: Cost Principles and Administrative Requirements (Proposed Rule), and the related, Proposed OMB Uniform Guidance: Cost Principles, Audit, and Administrative Requirements for Federal Awards (Proposed Guidance). GAQC Alert #211.