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Preparing for Future Audits

Preparing for Future Audits. Mike Foggin June 1, 2009. Key Topics Past Audit Issues Management Letter M D & A Open Items Review Proposed changes to the A-136 for FY2009 SF 133 changes effective 1 st Qtr FY 2010 SBR Changes effective FY 2011

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Preparing for Future Audits

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  1. Preparing for Future Audits Mike Foggin June 1, 2009

  2. Key Topics • Past Audit Issues • Management Letter • M D & A • Open Items Review • Proposed changes to the A-136 for FY2009 • SF 133 changes effective 1st Qtr FY 2010 • SBR Changes effective FY 2011 • SF133 to SBR Reconciliation changes for FY 2010

  3. Past Audit Issues • PAR must be posted on website • MD& A is mandatory • Posting of accruals • WebTA records match Discoverer reports

  4. Management Letter Issues • Written accounting policies & procedures • Threshold for AR write-offs • Oversight & review of BPD/ARC Accounting services (i.e. review of reconciliations) • Statements should be in A-136 format • IT Controls

  5. Management Discussion & Analysis • Need to submit earlier • Provide to ARC for review • Guidelines for MD&A performance discussion

  6. Open items review • Provided quarterly for review • Auditors are checking to see if accruals posted for open obligations

  7. Proposed A-136 Changes for FY2009 • Permitted agencies to choose to produce a consolidated PAR or an AFR and APR • Provided guidance on producing a summary of performance and financial information (snapshot) • Advance notice of reporting changes in A-127 effective FY2010. • Clarifications on Non-Valued Seized Property

  8. Proposed A-136 Changes for FY2009(cont.) • Included treaties and international agreements in the description of contingencies and commitments • Guidance on consideration of Recovery Act funds under Earmarked section • SF-133 format changes effective FY 2010 • SBR format changes effective FY 2011 • SF-133 to SBR Reconciliation changes for FY 2010

  9. SF-133 Format Change • Effective 1st Qtr FY2010 • During the transition period, SF 133s and SF 132s will use different formats. • Crosswalk of current format to the new format - starting with Page 39 in following document: http://www.whitehouse.gov/omb/assets/a11_current_year/s130_may09.pdf

  10. Crosswalk to Realigned SF-133

  11. SBR Format Changes • Effective FY 2011 • Should follow the SF 133 scheme

  12. SF-133 to SBR Reconciliation FY2010

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