Advanced Topics in a Single Audit

Overview

Intricacies of single audits are unraveled to enhance your knowledge and ability to plan, perform and evaluate single audits in accordance with the Uniform Guidance requirements.

Highlights

Key Topics

• Auditor and auditee responsibilities
• Schedule of expenditures of federal awards
• Major program determination
• Requirements for controls
• Risk assessment
• Sampling

Prerequisites

Intermediate competency in single audits

Designed For

Who Will Benefit

Auditors responsible for planning, directing and reporting on single audits

Objectives

Learning Outcomes

• Assess additional considerations related to a Uniform Guidance compliance audit and audits conducted under Government Auditing Standards beyond the
  fundamental concepts.
• Formulate the terms of the engagement and planning considerations.
• Evaluate whether the SEFA is fairly stated, in all material respects, in relation to the auditee's financial statements as a whole.
• Assess major programs using a four-step process.
• Evaluate the responsibilities of the nonfederal entities and auditors as they relate to internal control over compliance.
• Formulate how to perform a compliance audit and how to obtain the audit evidence needed to express an opinion on compliance.
• Evaluate considerations related to sampling in a compliance audit performed under the Uniform Guidance.
• Evaluate considerations of pass-through entities and subrecipients.
• Assess reporting considerations in a Uniform Guidance compliance audit.