other · Rural Utilities Service · Rule · Published 1998-07-28 · 63 FR 40169
Document
Document number
98-20073
Federal Register citation
63 FR 40169
CFR reference
7 CFR 1773
Type
Rule
Action
Correcting amendment.
Category
other
Sub-agency
Rural Utilities Service
Publication date
1998-07-28
Abstract
This document contains corrections to the final regulation which was published Friday, July 17, 1998 (63 FR 38720). The regulation relates to audit regulations necessitated by the Single Audit Act Amendments of 1996 and by Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations effective for audits of fiscal years beginning after June 30, 1996. The rule clarifies the peer review requirements in the interim final rule for certified public accountants (CPA) performing audits of RUS borrowers, adopts individual management letters for electric and telecommunications borrowers, and revises the language of the auditor's report and management letter to conform with technical guidance provided by the American Institute of Certified Public Accountants (AICPA).