Basic Understanding of Yellow Book and Single Audit

Friday, September 23, 2022
Webcast or Webinar, Online
11:00AM - 6:30 PM (opens at 10:30AM) EST
8Credits
Accounting and Auditing

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$289.00 Regular Price
Non-Members
$389.00 Regular Price
Course Type: Webcast
Course Code: 22/110589
Level: Basic
Vendor: California CPA Education Foundation
Field of Study: Auditing (Governmental)

Overview:

The Government Accountability Office recently released a new version of Government Auditing Standards, the Yellow Book. The revised version has been reorganized and realigned to make it easier for professionals to find relevant rules when performing research. This course overviews the Government Auditing Standards and how the government auditing standards apply to the Single Audit.

Objectives:

  • Apply the most recent requirements of Government Auditing Standards towards auditing governments/not-for-profits
  • Recognize the critical considerations in OMB and Government Auditing Standards
  • Identify the Federal Funds and Single Audit Requirements

Major Topics:

  • Overview of the 2018 Revision Government Auditing Standards
  • Understanding the conceptual framework of independence
  • Evaluating non-audit services provided and the threat of independence
  • New ruling on Continuing Professional Education
  • Introduction of a new concept referred to as "Waste"
  • Review Engagements under Government Auditing Standards
  • Gain an understanding of the requirements for performing a Uniform Guidance compliance audit
  • Internal control over financial reporting vs. Internal control over compliance requirements
  • Understand the differences of the auditor's reports issued under Government Auditing Standards

Major Topics:

  • Overview of the 2018 Revision Government Auditing Standards
  • Understanding the conceptual framework of independence
  • Evaluating non-audit services provided and the threat of independence
  • New ruling on Continuing Professional Education
  • Introduction of a new concept referred to as "Waste"
  • Review Engagements under Government Auditing Standards
  • Gain an understanding of the requirements for performing a Uniform Guidance compliance audit
  • Internal control over financial reporting vs. Internal control over compliance requirements
  • Understand the differences of the auditor's reports issued under Government Auditing Standards

Designed For:

Auditors who perform financial statement and compliance audit under Government Auditing Standards, internal auditors and those responsible for grant management.

Prerequisties:

None
CPE sponsors

The Florida Institute of Certified Public Accountants (FICPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org