News & Analysis as of

U.S. Treasury Auditors

Schwabe, Williamson & Wyatt PC

Application of Single Audit Act to ANCs and Extension of Single Audit Deadline

On July 5, 2022, the U.S. Department of Treasury issued updated guidance that confirmed that Alaska Native Corporations are subject to the requirements of the Single Audit Act and its implementing regulations...more

WilmerHale

PCAOB Adopts Enhanced Auditor Reporting Standard

WilmerHale on

On June 1, the Public Company Accounting Oversight Board unanimously adopted a revised auditing standard governing the contents and form of the audit report delivered by registered public accounting firms as part of their...more

McGuireWoods LLP

IRS Determination Letter Program for Qualified Retirement Plans to Be Significantly Curtailed

McGuireWoods LLP on

In Announcement 2015-19 (Announcement), the Internal Revenue Service (IRS) has indicated that it is eliminating the staggered five-year determination letter (DL) remedial amendment cycles for individually designed...more

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