Applying OMB Circular A-133 to Not-for-Profit and Governmental Organizations (11W022-14)
Description
Does OMB Circular A-133 have you running in circles? This course
provides you with the knowledge to be more efficient and effective at
planning and performing audits in accordance with the requirements of
OMB Circular A-133 and the Single Audit Act Amendments. Make sure your
skills are up-to-date with the latest information and find out what
changes are planned for this challenging audit area. Topics Discussed:
Fundamentals of a single audit Identifying federal assistance and
determining major programs Understanding, assessing and testing
internal controls Testing compliance with laws and regulations Audit
reports Program-specific audits Audit tools and guidance Latest
developments
Learning Objectives
Understand the
relationship of the Single Audit Act Amendments and OMB Circular A-133
Identify fundamental auditee and auditor responsibilities related to
OMB Circular A-133 audits
Obtain a thorough understanding of the
Schedule of Expenditures of Federal Awards (SEFA)
Gain a working
knowledge of how major federal programs are determined
Be familiar
with the requirements of the single audit for understanding internal
controls, assessing the levels of control risk, and testing the
effectiveness of the internal controls relative to federal awards
Identify the single audit requirements for testing compliance with laws
and regulations relative to major federal programs
Identify the audit
requirements for program-specific audits
Identify the reporting
requirements for program-specific audits
Course Level
Intermediate
CPE Field of Study
Auditing (Governmental)
8
Prerequisites
Background of not-for-profit or governmental accounting and auditing