As we informed you in GAQC Alert #52, the federal study on the quality of audits performed under Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, was released on June 22, 2007. The report titled, Report on National Single Audit Sampling Project (the PCIE report), was issued by the President’s Council on Integrity and Efficiency (PCIE) and addressed to the OMB. It can be accessed in its entirety by clicking here. To help our members start becoming familiar with the results of the PCIE report, we hosted a member-only conference call titled, An Overview of the Results of the National Single Audit Sampling Project. The call was held on Tuesday, July 10, 2007, from 1:00 PM to 2:30 PM (ET). The presenter, who led the project team that carried out the PCIE project, provides a summary of the history, process, and results of the project and responded to questions from participants.
This call fits within the overall mission of the Governmental Audit Quality Center (GAQC) which is to improve governmental audit quality, including the quality of single audits. As members of the GAQC, you have demonstrated a commitment to governmental audit quality. Therefore, we hope that you will take advantage of this archived call to help you in understanding the results of the study and determining whether any of the deficiencies cited in the report may impact the planning of your future engagements or your current audit methodologies and documentation practices.
About the Speaker
Mr. Hugh M. Monaghan, Director, Non-Federal Audits, Office of Inspector General (OIG), U.S. Department of Education (ED) will be the presenter. Mr. Monaghan served as the Project Director for the National Single Audit Sampling Project, a government-wide project to assess the quality of single audits. He also manages all aspects of ED OIG's activities relating to audits required to be performed by independent auditors engaged by entities funded by ED. This includes audit quality review, provision of technical assistance and guidance, and updating of audit guidance (ED related sections of OMB Compliance Supplement and ED OIG Audit Guides). Based in Philadelphia, PA, he supervises a network of staff located in Washington, Philadelphia, Kansas City, and Dallas. Previously, from January 1997 through January 2000 (when the position was abolished), Hugh was Assistant Inspector General for Operations for ED OIG's Eastern area. Before then, since late 1980, he was the ED OIG Regional Inspector General for Audit for Region III (Mid-Atlantic). In that position, he managed and issued all ED OIG external audits for the states of the Mid-Atlantic Region, as well as many internal and national audits of ED programs. Mr. Monaghan is a graduate of the City University of New York, and lives in the New Jersey suburbs of Philadelphia.
You should print out and have available the following attached presentation materials for reference during the archived call:
An Overview of the Results of the National Single Audit Sampling Project Conference Call Slides (PowerPoint or PDF)
The presenter addressed some of the questions within the time allotted for the call. However, all questions received are posted on the GAQC Member Discussion Forum. We encourage you to visit the forum to post additional follow-up questions. If you wish to review all questions and answers from this conference call, they have been compiled and are available through the following link.
Thank you for your interest in this GAQC conference call.
Listen to the archived call in streaming audio
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