Basic Understanding of Yellow Book and Single Audit 2024

Wednesday, March 26, 2025
Webcast or Webinar, Online
11:00AM - 4:30 PM (opens at 10:30AM) EST
6Credits

Registration is Open

Members
$239.00 Regular Price
Non-Members
$309.00 Regular Price

CPE PowerPass Users

Click the "Apply PowerPass" button to use your PowerPass for the applicable course below.
$120.00 Members / $168.00 Non-Members
Course Type: Webcast
Course Code: 24/5126433
Level: Basic
Vendor: California CPA Education Foundation
Field of Study: Accounting (Governmental)

Overview:

The Government Accountability Office recently released a new version of Government Auditing Standards, the Yellow Book. The revised version has been reorganized and realigned to make it easier for professionals to find relevant rules when performing research. This course overviews the government auditing standards and how they apply to the single audit.

Objectives:

• Apply the most recent requirements of Government Auditing Standards towards auditing governments/not-for-profits • Recognize the critical considerations in OMB and Government Auditing Standards • Identify the Federal Funds and Single Audit Requirements

Major Topics:

• Overview of the 2018 Revision Government Auditing Standards • Understand the conceptual framework of independence • Evaluate non-audit services provided and the threat to independence • New ruling on Continuing Professional Education • Introduce a new concept referred to as "Waste" • Review Engagements under Government Auditing Standards • Gain an understanding of the requirements for performing a Uniform Guidance compliance audit• Discuss Internal control over financial reporting vs. Internal control over compliance requirements • Understand the differences between the auditor's reports issued under Government Auditing Standards

Major Topics:

• Overview of the 2018 Revision Government Auditing Standards • Understand the conceptual framework of independence • Evaluate non-audit services provided and the threat to independence • New ruling on Continuing Professional Education • Introduce a new concept referred to as "Waste" • Review Engagements under Government Auditing Standards • Gain an understanding of the requirements for performing a Uniform Guidance compliance audit• Discuss Internal control over financial reporting vs. Internal control over compliance requirements • Understand the differences between the auditor's reports issued under Government Auditing Standards

Designed For:

Auditors who perform financial statement and compliance audit under Government Auditing Standards, internal auditors and those responsible for grant management.

Prerequisites:

None