Applying the Uniform Guidance in Your Single Audits WEBCAST

Overview

Designed to provide you with the knowledge to be more efficient and effective at planning and performing audits in accordance with the requirements of the Uniform Guidance and the Single Audit Act, this course examines how the Single Audit Act relates to OMB Uniform Guidance, as well as the different types of guidance and requirements found in the Uniform Guidance. The course also covers responsibilities and requirements of the auditor and the auditee, how to identify federal assistance and how to determine a nonfederal entity’s major programs. Make sure your skills are up to date with the latest information in this challenging audit area. 

Highlights

Introduction to single audits. Preparation of the schedule of expenditures of federal awards and determining major programs. Understanding, assessing, and testing internal control. Testing compliance with federal statutes and regulations and applicable compliance requirements. Auditor reporting in a Uniform Guidance compliance audit. Program-specific audits. Administrative requirements and cost principles in a single audit.

Prerequisites

Background of not-for-profit or governmental accounting and auditing.

Designed For

Auditors performing single audit engagements, internal financial staff of governments, and staff of not-for-profit entities interacting with auditors.

Objectives

Analyze the relationship of the Single Audit Act and the OMB Uniform Guidance. Identify the types of guidance and requirements found in the Uniform Guidance. Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards. Determine major federal programs. Determine the requirements of the single audit as it relates to understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards. Identify the single audit requirements for testing the direct and material compliance requirements for major programs. Determine reporting requirements. Identify the audit and reporting requirements for program-specific audits.