This course provides an overview of the single audit requirements and how the generally accepted auditing standards and the government auditing standards apply to the compliance audit.
Learning Objectives
- Identify what a single audit encompasses
- Understand the audit responsibilities between auditors and auditees in the compliance audit of federal awards
- Gain an overview of the Uniform Guidance
- Recognize critical considerations relating to:
- Internal Control over Compliance Requirements
- Test of Internal Control and Test of Compliance attributes
- Reporting requirements
Major Topics
- Understanding of the requirements under Uniform Guidance
- Administrative
- Cost Principles
- Understanding and Identifying Federal Awards
- Pass-through entities and sub-recipients
- Schedule of Expenditures of the Federal Awards
- Determining major programs
- Application of Compliance Supplement
- Understanding the compliance requirements
- Test of Internal Control and Test of Compliance attributes
- Writing audit findings
- Reporting requirements
