| ID | Status | Date | Public/Private | Industry | AHACPA Contact |
|---|---|---|---|---|---|
| #7709 | Closed | public | Rural Development | Les Sparks |
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Les, the new rules are optional for fiscal 2018, mandatory for 2019. Presumably, this refers to RD’s fiscal year end, September 30. So, its our client’s option to apply the new reporting requirements, especially eliminating the AUP procedures and report, for my client’s fiscal year just ended October 31, 2017, because it is withing fiscal 2018? |
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From Les Sparks: What we believe the dates refer to is the budget year. Since RD manages the projects through the budget, most interpret the dates to refer to budget years. So, the 2019 year end refers to the 2019 budgeting for the 2018 audit. That is how most are interpreting this. So, most are stopping the AUP for fiscal year 2017. However, they are maintaining the regular Yellowbook audit. Then for fiscal year 2018, the will convert to the new format. that will be paid in 2019. |