CFR > Title 7 - Agriculture > SUBTITLE B—Regulations of the Department of Agriculture > CHAPTER XVII—RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE (parts 1700 to 1794) > PART 1773—POLICY ON AUDITS OF RUS BORROWERS > SUBPART E—RUS Required Audit Procedures and Documentation (§1773.38 to §1773.46-1773.49) > 1773.42—Clearing accounts.

1773.42—Clearing accounts.

The CPA's workpapers must contain an analysis of all clearing accounts. Based upon the CPA's determination of materiality, an appropriate sample of transactions should be selected for testing. The CPA's workpapers must document that transactions were reviewed for proper allocation between expense and capital accounts.