On June 3, 2019, the Federal Audit Clearinghouse (FAC) issued Form SF-SAC 2019, more commonly referred to as the 2019 data collection form (DCF). The form changes how information from single audits is gathered and reported to the FAC.
The new DCF has several revisions, including changes to information collected and the method for entering information. It’s effective for fiscal periods ending in 2019, 2020, and 2021.
Following are the most significant changes to the form, which will impact how auditees and auditors complete their respective portions.
Employee Identification Number
The Internet Data Entry System (IDES) will now include an edit check of the auditee Employer Identification Number (EIN) to determine if auditee EINs are entered correctly.
Notes to the Schedule of Expenditures of Federal Awards
Auditees are now required to include the text of the notes to the Schedule of Expenditures of Federal Awards (SEFA) in the DCF. The DCF includes specific areas to input the following:
- Significant accounting policies used when preparing the SEFA, according to Title 2 US Code of Federal Regulations (CFR) Section 200.510(b)(6)
- Whether the auditee elected to use the de minimis cost rate, according to Title 2 CFR Section 200.414(f)
- All additional notes to the SEFA included in the reporting package
Text of Audit Findings
Auditors are now required to include the full, detailed text of each audit finding related to federal awards exactly as it appears in the schedule of findings and questioned costs, according to Title 2 CFR Section 200.516(b).
Text of Corrective Action Plan
Auditees must now include the full, detailed text of the corrective action plan (CAP)—which includes any findings noted in the audit—exactly as it appears in the auditee’s CAP, according to Title 2 CFR Section 200.511(c).
Schedule of Expenditures of Federal Awards
The FAC now allows auditees the option to generate a customizable SEFA and related notes from the IDES and include it in their reporting package. To facilitate this, they may enter required federal awards in the DCF prior to either of the following:
- The end of their fiscal period
- The beginning of audit work
Revisions to a FAC Submission
When a previous FAC submission is revised and resubmitted, auditees will be required to indicate the changes in IDES and explain the cause for the change. This information will also be part of the public database.
We’re Here to Help
For more information on the updated DCF or the IDES, visit the FAC website or contact your Moss Adams professional.