As we addressed in a February 2023 post, RUS requested comments on proposed changes to the audit requirements. This month, RUS published the final rule. The changes apply to RUS borrowers and grantees (now called “Awardees”). The rules apply to RUS telecommunication and electric borrowers, as well as the Broadband Grant Program.
A few organizations commented on the rule changes, and RUS adopted some of the changes recommended by the AICPA.
The notice is provided in 88 F.R. 31603-01 (May 18, 2023).
