December 9, 2021

News

News Network

Professional Standards Update No. 82

9 min read
<div>To alert the audit community to changes in professional standards, we periodically issue Professional Standards Updates (PSU). These updates highlight the effective dates and issuance of recent standards and guidance related to engagements conducted in accordance with Government Auditing Standards. PSUs contain summary information only, and those affected by a change should refer to the respective standard or guidance for details.</div>

To alert the audit community to changes in professional standards, we periodically issue Professional Standards Updates (PSU). These updates highlight the effective dates and issuance of recent standards and guidance related to engagements conducted in accordance with Government Auditing Standards. PSUs contain summary information only, and those affected by a change should refer to the respective standard or guidance for details.

More from:

News Network

  • Secretary Antony J. Blinken and Republic of Korea Foreign Minister Chung Eui-Yong Before Their Meeting
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • 23rd Commemoration of the August 7th U.S. Embassy Bombings 
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • Andorra Travel Advisory
    In Travel
    Reconsider travel to [Read More…]
  • Breaking Barriers: The NHL’s Willie O’Ree, Documentary Film & Global Discussion on Racial Equality
    In Crime Control and Security News
    Office of the [Read More…]
  • Secretary Antony J. Blinken at Virtual Meet and Greet with Mission Republic of Korea Staff and Family Members
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • Secretary Antony J. Blinken at a Press Availability
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • On the 41st Anniversary of the U.S. Embassy Takeover in Tehran
    In Crime Control and Security News
    Michael R. Pompeo, [Read More…]
  • Pain Doctor Convicted of Over $100 Million Health Care Fraud Scheme
    In Crime News
    A federal jury in the Eastern District of Michigan convicted a Michigan doctor today for his role in masterminding and executing a complex scheme to defraud Medicare and other health insurance programs by administering medically unnecessary spinal injections in exchange for prescriptions of high doses of opioids to patients.
    [Read More…]
  • Return Preparer Pleads Guilty to Conspiracy to Defraud the United States
    In Crime News
    A Florida return preparer pleaded guilty yesterday in the Southern District of Florida to conspiracy to defraud the United States.
    [Read More…]
  • Developer Agrees to Mitigate Impacts to Streams and Wetlands
    In Crime News
    A developer and his companies have agreed to effectuate $900,000 in compensatory mitigation, preserve undisturbed riparian areas, conduct erosion-control work on streams, and be subject to a prohibitory injunction to resolve alleged violations of the Clean Water Act (CWA) on property north of Houston, Texas, the Justice Department announced today.
    [Read More…]
  • Final Adoption of the U.S. Universal Periodic Review
    In Crime Control and Security News
    Antony J. Blinken, [Read More…]
  • Assistant Secretary for European and Eurasian Affairs Karen Donfried on the Secretary’s Upcoming Travel to Latvia and Sweden
    In Crime Control and Security News
    Karen Donfried, [Read More…]
  • Secretary Blinken’s Call with Canadian Foreign Minister Garneau
    In Crime Control and Security News
    Office of the [Read More…]
  • Justice Department Files Second Civil Contempt Claim Against CenturyLink
    In Crime News
    CenturyLink Inc., now known as Lumen Technologies Inc., has agreed to pay $275,000 to resolve a civil contempt claim by the Department of Justice arising from CenturyLink’s violations of the Amended Final Judgment that was designed to preserve competition following CenturyLink’s 2018 acquisition of Level 3 Communications Inc.
    [Read More…]
  • Pharmacist Arrested for Selling COVID Vaccination Cards Online
    In Crime News
    A licensed pharmacist was arrested today in Chicago on charges related to his alleged sale of dozens of authentic Centers for Disease Control and Prevention (CDC) COVID-19 vaccination cards on eBay.
    [Read More…]
  • Election Assistance Commission: Assessment of Lessons Learned Could Improve Grants Administration
    In U.S GAO News
    What GAO Found The U.S. Election Assistance Commission (EAC)—established to serve as a national clearinghouse of information on election administration, among other responsibilities—shared information on a range of topics to help state and local election officials conduct elections during the COVID-19 pandemic. For example, it shared information on in-person voting, absentee/mail voting, and contingency planning. It also established National Poll Worker Recruitment Day and developed graphics as part of a related public awareness campaign (see fig.). U.S. Election Assistance Commission (EAC) National Poll Worker Recruitment Day Graphic The EAC administered CARES Act grants by obligating funds and overseeing how states spent the funds, in part by reviewing states' grant reports to check how states spent funds to respond to the pandemic. It also reported information to Congress on how states spent approximately $326 million in grant funds, and to a committee overseeing the response to the pandemic on the specific activities undertaken by states using these funds. The EAC identified and addressed some issues with its administration of CARES Act grants. For example, while administering CARES Act grants, the EAC revised required grant reporting forms to more clearly align with requirements and to address difficulties some states were having with narrative questions on the forms. The EAC and GAO identified other issues with administration of the grants. For example, GAO found issues with how states and the EAC categorized expenditures involving nearly 20 percent of the total reported spending nationwide. As a result, in the EAC's annual grant expenditure report to Congress, states' expenditures for similar or the same items or activities could be included under multiple categories, making it difficult to consistently determine, by category, how states spent the grant funds. However, the EAC has not yet assessed its administration of CARES Act grants and documented lessons learned. According to EAC officials, assessing the administration of these grants could identify lessons learned beyond those that officials identified while administering the grants. Additionally, the EAC could document and implement any lessons learned. This could help improve the EAC's administration of ongoing or future grant programs, particularly in the event of a future emergency. Why GAO Did This Study During the 2020 federal elections, the EAC administered $400 million in grant funds provided by the CARES Act to help states prepare for and respond to the COVID-19 pandemic. The CARES Act included a provision for GAO to report on its ongoing monitoring and oversight efforts related to the COVID-19 pandemic. This report (1) describes information that the EAC provided to state and local election officials for conducting elections during the pandemic, (2) describes how the EAC administered CARES Act grant funding, and (3) examines the extent to which the EAC assessed its CARES Act grants administration. GAO reviewed information on the EAC's website on conducting elections during the pandemic and interviewed EAC officials regarding processes for developing and distributing this information. GAO obtained and reviewed the EAC's data on CARES Act grant expenditures, grant guidance for states on expending and reporting funding, and materials the EAC used to review state reports. GAO also interviewed EAC officials regarding grant administration procedures.
    [Read More…]
  • [Protests of Navy Cancellation of Solicitation for Radio Receiver Console and Antenna]
    In U.S GAO News
    A firm protested the Navy's cancellation of an unrestricted solicitation for a fire alarm radio receiver console and antenna, contending that the Navy improperly reissued the solicitation on a restricted basis, specifying another firm's product. GAO held that the Navy properly cancelled and reissued the solicitation, since the unrestricted solicitation did not properly reflect the Navy's minimum needs. Accordingly, the protest was denied.
    [Read More…]
  • New York Fisherman and Fish Dealer Charged with Conspiracy, Fraud, and Obstruction
    In Crime News
    Today, a federal grand jury in the Eastern District of New York unsealed the indictment of one fisherman, a wholesale fish dealer, and two of its managers for conspiracy to commit mail and wire fraud and obstruction in connection with a scheme to illegally overharvest fluke and black sea bass. All four defendants are from Montauk.
    [Read More…]
  • Condolences on the Passing of Prime Minister Ambrose Dlamini of the Kingdom of Eswatini 
    In Crime Control and Security News
    Michael R. Pompeo, [Read More…]
  • Defense Logistics: The Army Needs to Implement an Effective Management and Oversight Plan for the Equipment Maintenance Contract in Kuwait
    In U.S GAO News
    The Department of Defense (DOD) relies on contractors to perform many of the functions needed to support troops in deployed locations. For example, at Camp Arifjan, Kuwait the Army uses contractors to provide logistics support for operations in Iraq and Afghanistan. Contractors at Camp Arifjan refurbish and repair a variety of military vehicles such as the Bradley Fighting Vehicle, armored personnel carriers, and the High-Mobility, Multi-Purpose Wheeled Vehicle (HMMWV). However, while contractors provide valuable support to deployed forces, we have frequently reported that long-standing DOD contract management and oversight problems increase the opportunity for waste and make it more difficult for DOD to ensure that contractors are meeting contract requirements efficiently, effectively, and at a reasonable price. This report discusses information about Task Order 1 that we developed during our review. Our objectives were to (1) evaluate the contractor's performance of maintenance and supply services under Task Order 1, (2) determine the extent to which the Army's quality assurance and contract management activities implement key principles of quality assurance and contract management regulations and guidance, and (3) determine the extent to which the Army is adequately staffed to perform oversight activities.Our analysis indicates that the Army is inadequately staffed to conduct oversight of Task Order 1. Authorized oversight personnel positions vacant at the time of our visit in April 2007 included those of a quality assurance specialist, a property administrator, and two quality assurance inspectors. The contracting officer told us that the two civilian positions (the quality assurance specialist and the property administrator) had been advertised but the command had not been able to fill the positions with qualified candidates. The battalion was unsure why the two military positions (the quality assurance inspectors) had not been filled. The lack of an adequate contract oversight staff is not unique to this location. We have previously reported on the inadequate number of contract oversight personnel throughout DOD, including at deployed locations. Army officials also told us that in addition to the two quality assurance inspectors needed to fill the vacant positions, additional quality assurance inspectors were needed to fully meet the oversight mission. According to battalion officials, vacant and reduced inspector and analyst positions mean that surveillance is not being performed sufficiently in some areas and the Army is less able to perform data analyses, identify trends in contractor performance, and improve quality processes. Also, the Army is considering moving major elements of option year 3 (including maintenance and supply services) to a cost plus award-fee structure beginning January 1, 2008. Administration for cost plus award-fee contracts involves substantially more effort over the life of a contract than for fixed-fee contracts. Without adequate staff to monitor and accurately document contractor performance, analyze data gathered, and provide input to the award-fee board, it will be difficult for the Army to effectively administer a cost plus award-fee contract beginning in January 2008.
    [Read More…]
Network News © 2005 Area.Control.Network™ All rights reserved.