Advanced auditors need to be prepared for complicated issues that can occur during
single audits. They also need to understand the responsibilities of planning, directing,
and reporting on single audits conducted under the Uniform Guidance. This course will
provide insights into key topics, including knowing the responsibilities of the auditor
and the auditee in compliance audits of federal awards, evaluating whether
requirements for the schedule of expenditures for federal awards have been met, and
interpreting the requirements for internal controls, risk assessment, and sampling.
DESIGNED FOR
Auditors responsible for planning, directing, and reporting on single audits
BENEFITS
- Assess fundamental auditee and auditor responsibilities in a compliance audit of
federal awards
- Evaluate whether the requirements related to the schedule of expenditures of
federal awards have been met in your audit engagement
- Evaluate whether major federal programs to be audited in a compliance audit were identified.
- Interpret the requirements for understanding internal control, identifying and
assessing the level of control risk, and testing the effectiveness of internal controls
relative to federal awards.
- Interpret and evaluate the reporting requirements of a single audit .
- Identify considerations related to pass-through entities.
- Interpret and evaluate guidance regarding sampling in a compliance audit.
HIGHLIGHTS
- Auditor and auditee responsibilities in a single audit
- Planning the compliance audit and other risk assessment considerations
- Required elements of the schedule of expenditures of federal awards
- Major program determination process, including the considerations of clusters, loans, and loan guarantees
- Considerations when assessing and evaluating internal controls over compliance
- Audit sampling
- Considerations of pass-through entities
- Advanced audit reporting issues
PREREQUISITES
Experience in single audits.
ADVANCE PREPARATION
None