This CPE course explains Yellow Book independence including the general requirements, requirements for auditors providing non-audit services and documentation requirements. This course also explains the basic elements of a Uniform Guidance compliance audit, including an overview of requirements, major program determination with examples, an understanding of compliance requirements and related internal control over compliance, sampling, and single audit reporting.
DESIGNED FOR
CPAs in public practice and members in industry
BENEFITS
After attending this presentation you will be able to...
- Identity the conceptual framework for making independence determinations
- Identify independence threats related to preparing financial statements and accounting records
- Identify specific non-audit services that would and would not impair independence
- Complete proper audit documentation to support adequate consideration of auditor independence
- Identify what a single audit entails
- Identify the basic audit requirements in a Uniform Guidance compliance audit
- Identify key auditee and auditor responsibilities in the compliance audit of federal awards
- Recognize key consideration related to the auditor's responsibilities regarding testing and reporting on compliance under the Uniform Guidance
HIGHLIGHTS
The major topics that will be covered in this class include:
- The conceptual framework approach to independence
- Independence threats related to preparing financial statements and accounting records
- Consideration of specific no
COURSE LEVEL
Basic
PREREQUISITES
General knowledge of Yellow Book and single audits
ADVANCE PREPARATION
None