How to Get a Better Return on Yellow Book and Single Audits Avoiding the Most Misapplied Audit Concepts

View Bio

Instructor

Jennifer
Louis

View Bio

Jennifer Louis

Bio

Jennifer F. Louis, CPA

Jennifer F. Louis, CPA has over 14 years of experience in designing and presenting high-quality training programs in a wide variety of technical and "soft skills" topics needed for professional and organizational success. In 2003, she co-founded Emergent Solutions Group, LLC, a consortium of professionals serving organizations on a project or part-time basis, to create a division dedicated to training services. She was most recently Executive Vice President/Director of Training Services at AuditWatch, Inc., a highly respected training and consulting firm serving the audit profession. During her six years at AuditWatch, Ms. Louis served in many other capacities, including Vice President of Product, and instructor and consultant for the firm's Audit Productivity Improvement ProgramTM and various other training courses. She also co-authored a manual on value-added auditing.

Before joining AuditWatch, Ms. Louis was the financial/operational audit manager at AARP. While at AARP, she served as one of their specially trained facilitators available as a resource throughout the organization for designing and leading strategic meetings and training sessions. Ms. Louis was also an audit manager for Deloitte and Touche, LLP. During her years in that firm's Washington, D.C. office, she served as an instructor for the firm's national "Train the Trainers" program.

Ms. Louis graduated summa cum laude from Marymount University with a BBA in accounting. She is also a member of several prestigious professional associations.

Yellow Book and Single Audit reporting entities have complex and unique financial statement audit, compliance and reporting issues. Deficiencies in these types of audit engagements are common. Help reduce the likelihood of noncompliance with relevant professional and regulatory auditing and reporting standards.

Learning Objectives

• Describe the differences in the auditor’s responsibility between generally accepted auditing standards, generally accepted government auditing standards, and OMB Uniform Guidance

• Explain common deficiencies in Yellow Book and Single Audit engagements

• Apply best practices for designing and performing tests of internal controls and compliance with major federal programs

• Discuss the special reporting requirements of Yellow Book and Single Audit engagements

Major Topics

• Discover the fundamental differences in the auditor’s responsibilities between financial statement audits performed in accordance with the SASs and Yellow Book

• Understand risk assessment factors above those associated with a financial statement audit only

• Learn what must be done beyond the financial statement audit in order to issue required Yellow Book and Single Audit reports on internal controls and compliance

• Master designing, performing and documenting effective and efficient tests of compliance requirements

• Practice identifying, documenting and communicating the impact of internal control deficiencies and compliance audit findings to the client

• Common peer review deficiencies

CPE Credits Available

8 CPE

8: Auditing

Things to Know About This Course

Course Level

Intermediate

Professional Area of Focus

Auditing

Prerequisites

Advanced Preparation

None

Intended Audience

Any compliance auditor who wishes to learn how to be more effective and efficient on engagements

Provider

GSCPA