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Did you move? (7/14/06) |
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Yes we are moving near the end of July 2006 within the same building (Docking State Office Building) but to a new floor. Our new address will be:
SRS Office of Audit and Consulting Services
915 SW Harrison, 8th Floor
Topeka, KS 66612
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Can I have my CPA submit an audit report in electronic format? (7/25/05) |
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Yes. Effective
July 1, 2005, SRS' preferred method of receiving CPA audit
reports for grants issued through SRS is electronically in
pdf format. The SRS Office of Audit and Consulting Services
has developed an agency-wide repository for all CPA audit reports
received for SRS. This change will eliminate the need for you
to submit multiple copies of your audit reports to SRS. Instead,
you can submit your audit electronically to one contact where
SRS program staff can access them electronically as needed.
The e-mail address to submit your CPA audit is OACS@srs.ks.gov. |
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What formats can I send a CPA audit report to SRS? (7/25/05) |
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SRS accepts paper audit reports and can now accept them electronically but only if they are in pdf format. These can be sent to SRS via e-mail at OACS@srs.ks.gov as an attachment to the e-mail or by including a link to a webpage where it can be located and downloaded, or saved to a CD and sent through the mail. You can send a hard copy report through the mail as before but it will not be necessary to do so if you send it electronically to the address listed above. |
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Is SRS' new CPA audit report repository accessible to anyone outside of SRS? (7/25/05) |
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No. This information is only accessible to SRS staff. If you are required to submit an audit report to another State agency, you will need to do so using their preferred method. |
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Can I send an e-mail with a link to the audit report on my website? (7/25/05) |
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Yes. Please make sure you give us the entire path to your report (or the absolute URL). This will save time locating the report without searching your entire site to find it. URL is an acronym for Uniform Resource Locator (or web address) like www.srskansas.org which takes you to a main page on the SRS website. An absolute URL is the entire web address for a specific file or page located within a website such as http://www.srskansas.org/audits/rmfaq.htm which links you right into the SRS OACS FAQ page. If you were linking to the absolute URL of a pdf document, the URL would end in .pdf instead of .htm. |
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Does the basis of accounting used to prepare financial statements under an A-133 audit, specifically OCBOA (Other Comprehensive Basis of Accounting) financial statements, place an organization at a higher risk of being audited by the pass-through agency or the federal government? (2/15/05) |
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OMB Circular A-133 does not prescribe the basis of accounting that auditees must use to prepare their financial statements (and Schedule of Federal Awards). But auditees are required to disclose the basis of accounting and significant accounting policies used in preparing financial statements and the schedule. The auditee must be able to reconcile amounts presented in the financial statements with related amounts in the schedule. You must prepare the schedule for the same period as your financial statements. From an SRS perspective, it would not put your client at a higher risk for an audit for state dollars and since we are the pass-through agency, we believe this approach would cover any federal dollars passed through us to a recipient. Federal monies received directly from the federal government might be considered directly. Contact the federal agency for further direction for direct Federal funding. |
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What audit requirements does SRS impose on for-profit recipients of federal and state monies? (2/13/05) |
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Because Circular A-133 does not apply to for-profit subrecipients, a pass-through entity must establish requirements that ensure that its for-profit subrecipients comply with the applicable program regulations. The pass-through entity’s contract with the for-profit subrecipient should describe the applicable compliance requirements and the subrecipient’s compliance responsibilities.
In SRS, audit requirements are spelled out in the grant or contract terms and conditions. All subrecipients, regardless of whether they are for-profit or not-for-profit, must comply with those terms and conditions. For-profit subrecipients, who receive monies from SRS, are subject to much the same audit requirements as are not-for-profits subrecipients.
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