Reported by AICPA State CPA Society Affairs
AICPA is hearing questions from members about the upcoming March 31 deadline for single audits.
Here’s an alert from AICPA’s Governmental Audit Quality Center (GAQC) about a recent OMB memo extending the single audit submission deadline for certain entities. State CPA Societies are welcome to share this alert with members or link to the alert on their website.
Importantly, OMB is currently working on a broader deadline extension that will provide relief to certain entities that are not covered by the 1st OMB memo but have operations that have been adversely impacted by COVID-19. We believe it may be issued soon and I’ll let you know when that happens.