There are no changes to the guidance for FY-end 12/31/07 audits. All guidance for the 12/31/07 audits is posted on this website. Regulation 1611, Financial Eligibility, was changed effective September 7, 2005. Should a question arise about financial eligibility based on the revision to Regulation 1611, contact this office. The revised regulation should be read in its entirety and can be found on our website at https://oig.lsc.gov/legis/fr08au05-19.pdf.

Although IPAs are not required to do any additional work for the 12/31/07 audits, they should be aware that the OIG may request to look at certain workpapers of selected IPAs.

The OIG project to reissue a consolidated audit guidance document, updating the references to LSC regulations and consolidating the recommended audit tests, has been put on hold at the present time.

IPAs are reminded that now all audit findings are to be reported on the Summary Report Form. Please refer to the Summary Report Form instructions for guidance.

Reporting Language to Conform to New SAS No. 112.
AICPA has posted illustrative examples on its website. LSC will accept grantee 12/31/07 audit reports with the AICPA suggested language for the Report on Internal Control Over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards. You may find these examples at http://gaqc.aicpa.org/Resources/Illustrative+Auditors+Reports/

If you have a question that is not addressed on our website under Auditors' Resources email us at audits@oig.lsc.gov or phone us at 202 295 1671