Applying the Uniform Guidance for Federal Awards in Your Single Audits
Description
Does a single audit 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 the Uniform Guidance for Federal Awards and the Single Audit Act. Make sure your skills are up-to-date with the latest information in this challenging audit area.
Learning Objectives
Upon completion of this seminar, participants will be able to:
Recall the relationship of the Single Audit Act and the OMB Uniform Guidance for Federal Awards
Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards
Recall key points related to the Schedule of Expenditures of Federal Awards (SEFA)
Recognize how major federal programs are determined
Recall the requirements of the single audit as it relates to understanding internal controls, assessing the level of control risk, and testing the effectiveness of internal controls relative to federal awards
Identify the single audit requirements for testing compliance with laws and regulations and the applicable compliance requirements relative to major federal programs
Recognize reporting requirements
Identify the audit and reporting requirements for program-specific audits
Major Topics
Fundamentals of a single audit
Identifying federal assistance and determining major programs
Understanding, assessing and testing internal controls
Testing compliance with laws and regulations and applicable compliance requirements
Auditor's reports
Program-specific audits
Audit tools and guidance
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
Government
CPE Field of Study
Accounting (Governmental)
8
Who Should Attend
Auditors performing single audit engagements, internal financial staff of governments, and not-for-profit entities interacting with auditors
Instructor(s)
Tony Cuozzo
Prerequisites
Background of not-for-profit or governmental accounting and auditing
