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Applying the Uniform Guidance for Federal Awards in Your Single Audit (Self-Study)

Code: JI164302

Date Valid for one year from purchase date
Format Self-Study (On-Demand)
CPE credits CPE 10.5
Specialty
credits
10.5 Yellow Book recommended
Field(s)
of study
Accounting (Governmental) - Technical (10.5)
Fees
Standard member fee $209.00
checkmarkStandard nonmember fee $269.00

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Description

What knowledge do you need to be more efficient and effective at planning and performing audits in accordance with the Uniform Guidance?

In this course you will gain knowledge regarding performing a compliance audit under the Uniform Guidance, including the responsibilities of both the auditee and auditor. Learn how to identify federal assistance and how to determine a nonfederal entity's major programs. Also covered is a key part of the compliance audit, that is, gaining an understanding of, assessing, and testing internal control over compliance. Using this knowledge, you will learn what is involved in identifying and testing compliance requirements in a single audit, and reporting on the results. This course contains case studies so that you can apply the knowledge gained through the course material.

Who should take this program?

Auditors performing single audit engagements, internal financial staff of governments and not-for-profit entities interacting with auditors

Major subjects

  • Fundamentals of a single audit
  • Identifying federal assistance and determining major programs
  • Understanding, assessing and testing internal controls
  • Testing compliance with laws and regulations and applicable compliance requirements
  • Auditor's reports
  • Program-specific audits
  • Audit tools and guidance

Learning objective(s)

  • Recognize the relationship of the Single Audit Act and the OMB Uniform Guidance for Federal Awards.
  • Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards.
  • Recognize the guidance regarding the Schedule of Expenditures of Federal Awards (SEFA).
  • Identify how major federal programs are determined.
  • Recognize the requirements of a single audit as it relates to understanding internal controls, assessing the level of control risk, and testing the effectiveness of internal controls relative to federal awards.
  • Identify the single audit requirements for testing compliance with laws and regulations and the applicable compliance requirements relative to major federal programs.
  • Identify the reporting requirements for a Uniform Guidance compliance audit.
  • Recall the audit and reporting requirements of program-specific audits.

Notes:

Course code Code JI164302
Sponsor AICPA
NASBA ID#: 112891
Level Intermediate
Format Self-Study (On-Demand)
Prerequisites Prereq. None
Advance
prep
None