Updated for OMB Uniform Guidance Be prepared for difficult single audit areas before they happen rather than reviewing them after the fact. Learn how to carry the weighty responsibilities of planning, directing, and reporting on a single audit engagement conducted under the Uniform Guidance, with an emphasis on the advanced topics that require particular attention. This course gives you insights into key issues that are not covered in other courses, and provides case studies to help put the guidance into practice.
Learning Objectives
Assess auditor considerations when planning a compliance audit of federal awards. Evaluate whether the requirements related to the Schedule of Expenditures of Federal Awards (SEFA) have been met in your audit engagement. Evaluate whether major federal programs to be audited in a compliance audit were identified. Interpret the requirements for understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards. Interpret and evaluate the reporting requirements of a single audit. Interpret and evaluate guidance regarding sampling in a compliance audit. Identify considerations related to pass-through entities.
Major Topics
Planning the compliance audit and other risk assessment considerations Required elements of the Schedule of Expenditures of Federal Awards Major program determination process, including clusters, loans, and loan guarantees Considerations when assessing and evaluating internal controls over compliance Evaluating and reporting on applicable compliance requirements related to compliance testing Considerations of pass-through entities and subrecipients Audit sampling in a compliance audit Advanced audit reporting issues
