ACPEN: Common Yellow Book & Single Audit Deficiencies

Overview

Yellow Book and Single Audit engagements are routinely selected for peer review and continue to be areas of heightened scrutiny by peer reviewers and federal oversight agencies. This course examines common deficiencies identified in governmental and Single Audit engagements, with a focus on understanding why these issues arise and how they can be avoided.

Participants will review frequent deficiencies related to Yellow Book requirements issued by the U.S. Government Accountability Office, including independence, CPE, and reporting considerations. The course also addresses common Single Audit deficiencies, including internal controls over compliance, compliance testing, and major program determination.

Designed for auditors performing governmental and Single Audit engagements, this course helps participants recognize recurring problem areas and better understand the requirements that continue to drive peer review findings.

Highlights

• Common peer review deficiencies in Yellow Book engagements
• Common peer review deficiencies in Single Audit engagements
• Yellow Book requirements (independence, CPE, reporting)
• Single Audit compliance requirements
• Internal controls over compliance
• Compliance testing and major program determination
• Root causes of audit deficiencies and prevention strategies
   

Prerequisites

Prior experience with GAGAS and the Uniform Guidance

Designed For

All accounting/auditing professionals

Objectives

• Identify common deficiencies identified in Yellow Book engagements
• Recall independence requirements applicable under the Yellow Book
• Identify common deficiencies identified in Single Audit engagements

Preparation

 None