Applying the Uniform Guidance in Your Single Audits

Wednesday, May 22, 2024
Webcast or Webinar, Online
9:00 AM - 5:00 PM (opens at 8:30 AM) EST
8Credits
Accounting and Auditing

Registration is Open

Members
$332.00 Regular Price
Non-Members
$403.00 Regular Price

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$160.00 Members / $224.00 Non-Members
Course Type: Webcast
Course Code: 24/AI182239
Level: Intermediate
Vendor: AICPA CPE Division
Field of Study: Auditing (Governmental)

Overview:

Gain efficiency

Learn how to be more efficient and effective at planning and performing audits in accordance with the Uniform Guidance in this all-new webcast. Join us to better understand the responsibilities and requirements of the auditee and auditor when performing a compliance audit under the Uniform Guidance.

You will also learn how to identify federal assistance and how to determine a nonfederal entity's major programs.

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.

Major Topics:

  • 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
  • Major Topics:

  • 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
  • Designed For:

  • Auditors performing single audit engagements
  • Internal financial staff of governments
  • Staff of not-for-profit entities interacting with auditors
  • Prerequisites:

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