CANCELLED: Studies on Single Audit and Yellow Book Deficiencies
Description
The AICPA Professional Ethics Division, Most Frequent Violations of
Professional Standards Government and Not-for-Profit Investigation,
reveals significant issues in single audits and Yellow Book engagements,
including deficiencies in audit procedures performed, auditor’s
reporting, and financial statement deficiencies. In this course, learn
how to avoid common deficiencies found in single audits and Yellow Book
engagements using simulated case studies and practice exercises with
lessons for today’s issues. These case studies and practice exercises
are based on the Yellow Book and the Uniform Guidance for Federal
Awards. They will assist you in avoiding common mistakes and recognizing
deficiencies before it’s too late.
Learning Objectives
Identify common deficiencies in the use of engagement letters.
Recall the requirements of continuing professional education under the Yellow Book CPE rules and GAO guidance.
Recall key points concerning the GAGAS Independence Framework and related issues.
Recall considerations for major program determination.
Recall the process of drafting an audit finding.
Recognize auditee and auditor responsibilities related to the Schedule of Federal Expenditures (SEFA) and potential problem areas in SEFA presentation.
Recall the reporting requirements of a single audit.
Major Topics
Engagement letters
Management representation letters
Yellow Book continuing professional education
The GAO and Independence
Major program determination
Abuse
Fraud risk factors
Audit sampling
Documentation
Drafting findings
Schedule of Federal Expenditures (SEFA)
Reporting requirements
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting (Governmental)
8
Who Should Attend
Auditors performing single audits and internal financial staff of governmental and not-for-profit entities
