Are you new to performing single audits? Or do you need a refresher on the key concepts of performing a compliance audit of federal awards? Elevate your proficiency and efficiency to perform a single audit using the guidance in the OMB Uniform Guidance for Federal Awards. Gain the confidence you need to navigate the difficult requirements of this challenging audit area.
DESIGNED FOR
Audit staff new to the single audit process and those needing a refresher of key elements of a compliance audit of federal awards.
BENEFITS
- Explain how the requirements of the Uniform Guidance for Federal Awards relate to GAAS and the Yellow Book
- Recognize the importance of a pass-through entity, recipient, subrecipient, and contractor
- Explain the concept of subrecipient monitoring and discuss related audit considerations
- Recognize the major program determination process
- Identify how the compliance supplement relates to the single audit. Examine the auditor's responsibility for testing compliance
- Identify the key reporting requirements
- Identify some common audit deficiencies found in single audits
HIGHLIGHTS
- An overview of the Uniform Guidance for Federal Awards
- Schedule of Expenditures of Federal awards
- Major program determination
- Using the compliance supplement Compliance requirements
- Testing both compliance and internal control over compliance
- Reporting requirements
- Common deficieencies found in single audits
COURSE LEVEL
Basic
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- *AICPA members deduct an additional $30 from applicable price.
- Qualifies for Yellow Book.