Often times, School Districts and Charter Schools are busy running the operations of their organization that they forget how much preparedness is needed for their annual or biennial audits. The summer time is a great time to take a moment to look through the items your auditors often ask for each year and do a self-review of your documentation and support for each of your compliance matters. In Arizona, the Auditor General’s Office (AG) and the Arizona Department of Education requires a compliance questionnaire be completed in conjunction with your financial statement audit and single audits. This questionnaire is on compliance issues noted in the Uniform System of Financial Records or USFR that the AG’s office publishes. The USFR compliance questionnaire is open to the public on the AG’s website, and should be used by your school to help make sure you don’t get any compliance findings for the year.
There is a lot of information on what your auditors will ask for and why they ask for it. To really know what you’re auditors are looking for and why, this blog would have to be a whole lot longer, but you’re in luck. Henry & Horne is presenting a free CPE event in their Tempe office on Wednesday July 24, 2013 to discuss the details regarding your USFR Compliance Audit Readiness. The CPE is expected to last an hour in the morning. Free breakfast will be served. To be included in the email blast detailing the locations and times, email firstname.lastname@example.org.
Brian Hemmerle, CPA, CFE