By. Paula M. Golbabai, CPA
Audit Senior at Atchley & Associates, LLP
Happy 2014 to all of our clients and friends! While it is impossible to know what the next year will bring our way, it seems that we can be sure of at least one thing: the new Form SF-SAC 2013 Data Collection will be one of them. For those non-profit organizations subject to the reporting requirements of the Single Audit Act Amendments of 1996 and OMB Circular A-133 (organizations with expenditures of federal awards in excess of $500,000 per year), the long-awaited form will be available beginning January 7th . This informational form, used to report audit results, audit findings, and questioned costs, is submitted annually to the Office of Management and Budget. Revisions to the form and a subsequent period of review and comment by the general public and Federal agencies delayed its release in 2013. No need to panic, however; the OMB has granted automatic extension for all 2013 forms due until February 28th!
Beginning next week, organizations can submit the Data Collection Form using the Federal Audit Clearinghouse website at https://harvester.census.gov/facweb/Default.aspx. For those who can’t wait to check out the changes, a preview of the form is already available. The look of the form is different but significant changes are few, and include requirements for audit firm Employee Identification Numbers, a standard format for audit finding reference numbers, and additional information related to those findings. Take a look at it yourself by visiting the Clearinghouse website and happy form-filing in 2014!