Applying the Uniform Guidance in Your Single Audits

Overview

Performing efficient single audits

You will learn how to be more efficient and effective at planning and performing audits in accordance with the Uniform Guidance.

Highlights include:

Performing a compliance audit under the Uniform Guidance

Auditee and auditor responsibilities

Federal assistance and nonfederal entities' major programs

Internal control over compliance

Reporting your findings

Highlights

Introduction to single audits

Preparation of the schedule of expenditures of federal awards and determining major programs

Understanding, assessing and testing internal control

Testing compliance with federal statutes and regulations and applicable compliance requirements

Auditor reporting in a Uniform Guidance compliance audit

Program-specific audits

Administrative requirements and cost principles in a single audit

Prerequisites

Background of not-for-profit or governmental accounting and auditing

Designed For

Auditors performing single audit engagements

Internal financial staff of governments

Staff of not-for-profit entities interacting with auditors.

Objectives

Analyze the relationship of the Single Audit Act and the OMB Uniform Guidance.
Identify the types of guidance and requirements found in the Uniform Guidance.
Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards.
Determine major federal programs.
Determine the requirements of the single audit as it relates to understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards.
Identify the single audit requirements for testing the direct and material compliance requirements for major programs.
Determine reporting requirements.
Identify the audit and reporting requirements for program-specific audits.

Notice

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by AICPA.