Applying the Uniform Guidance for Federal Awards in Your Single Audits (111W219A15)
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. 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 and applicable compliance
requirements Auditor’s reports Program-specific audits Audit tools
and guidance
Learning Objectives
Understand 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
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 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
Be familiar with the reporting requirements
Identify the audit
requirements for program-specific audits
Identify the reporting
requirements for program-specific audits
Course Level
Intermediate
CPE Field of Study
TBD
Prerequisites
Background of not-for-profit or governmental accounting and auditing