The Uniform Guidance present unique challenges to auditors of governmental organizations and not-for profit organizations receiving federal financial assistance. This Guidance requires auditors to take a risk-based approach to the audit, including a methodology of determining which federal programs are considered major and therefore subject to Single Audit compliance requirements.
DESIGNED FOR
Anyone who is involved in Single Audits.
BENEFITS
After attending this presentation you will be able to:
- Identify when an entity is subject to the Single Audit requirements
- Identify reporting requirements related to Single Audits
- Recall core concepts fundamental in a Single Audit related to federal financial assistance and low risk auditees
- Recognize the importance of major program determination and how to properly select major programs
- Recall significant requirements of the Uniform Guidance
HIGHLIGHTS
The major topics that will be covered in this class include:
- Key auditor requirements in a Single Audit
- Enhanced required reporting requirement in Single Audit related to internal control and compliance
- Clarifications and examples of how to properly determine major federal programs
- Key definitions related to Single Audit
- Other important matters contained in the Uniform Guidance
PREREQUISITES
None
ADVANCE PREPARATION
None