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Crawford and Associates is committed to promoting public accountability and stewardship of public resources. We are significantly involved as leaders in the state and local government financial management arena. We'll keep you informed of the latest developments and other company news via these blog postings.

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Audit Chat

Audit Chat is dedicated to discussions of the latest on governmental auditing topics and activities, including information related to the AICPA’s audit standards, the GAO’s Yellow Book, the Single Audit and related OMB Circulars, and other governmental audit related pronouncements or activities.

The draft of the 2015 compliance supplement has been has been provided for the use of audit planning purposes with the final issuance expected late June 2015. Within the draft there are some interesting changes to make note of for both auditors and auditees.  These changes include reduction of the number of compliance supplements and potential issues regarding internal control evaluation.

With regards to the compliance requirements, this draft document has removed both Davis Bacon and Real Property Acquisition and Relocation Assistance.  The draft compliance matrix has replaced these requirements with reserved.  This leaves the opportunity for future requirements or modifications to the requirements removed to possibly be added in the future.  Another note is that “Period of Availability" has been renamed as "Period of Performance".

 

Another interesting note for both auditors and auditees is that language previously used in Part 6 "Internal Control" has been removed.  This is due to limited time for OMB to update Part 6 to reflect updates that have occurred to COSO's updated "Internal Control Framework" and GAO's “Standards for Internal Control in the Federal Government” (Green Book).  This is an area that auditees should be cognizant of as both of these documents have been referenced in the Uniform Guidance, specifically  2 CFR 200.303, as best practice documents for non-federal entity's internal control framework and are the specifically referenced in this draft of the compliance supplement. 

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CAROLYNN CAUDILL, Oklahoma County Clerk - April 26, 2006 Press Release: Oklahoma County Undergoes Comprehensive Financial Analysis, Receives Overall Grade Above Satisfactory
Oklahoma City - Oklahoma County officials on Wednesday received results of a first-ever comprehensive analysis of the County’s financial health and performance...“We at the Oklahoma County Clerk’s Office feel the people of Oklahoma County deserve high quality, professional financial information on a regular basis, and are pleased to make available this special report demonstrating the financial condition, performance and capabilities of their county government. It appears Oklahoma County’s financial health is fine in some areas, but needs improvement in others, in the professional judgment of the highly-respected CPA firm of Crawford & Associates, based on their review of the award-winning annual financial reports our office has issued the past three years”, Caudill said.

The analysis, the first of its kind for an Oklahoma county, represents an examination of Oklahoma County’s annual financial condition and performance as evaluated by the firm of Crawford & Associates CPAs, using its Performeter® financial analysis tool. In an effort to expand the understanding of the annual financial reports of the County and provide the County with an additional financial management resource, Oklahoma County Clerk Carolynn Caudill took the initiative to submit the County’s annual financial statements for the 2003, 2004, and 2005 fiscal years for this comprehensive evaluation. Caudill’s office was awarded a prestigious Certificate of Excellence for Financial Reporting for each of those reports, by the Government Finance Officers’ Association, something it has earned for each of the past 11 years.

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Blog Archive

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