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Fundamentals for Performing a Single Audit under the Uniform Guidance for Federal Awards (Self-Study)

Code: JI164311

Date Valid for one year from purchase date
Format Self-Study (On-Demand)
CPE credits CPE 8.0
Specialty
credits
8.0 Yellow Book recommended
Field(s)
of study
Accounting (Governmental) - Technical (8.0)
Fees
Standard member fee $129.00
checkmarkStandard nonmember fee $169.00

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Description

This CPE course explains the basic elements of a Uniform Guidance compliance audit, including who must undergo this type of audit and why. It provides an overview of the requirements, and how GAAS and the Yellow Book are related to the compliance audit. Topics discussed in this course include an explanation and requirements of the various types of federal awards, along with audit implications for a recipient or subrecipient. The schedule of expenditures of federal awards is introduced, along with a description of major program determination, and the auditor's responsibilities related to testing and reporting.

Who should take this program?

Audit staff new to the single audit process and those needing a refresher of key elements of a compliance audit of federal awards

Major subjects

  • Fundamentals of a compliance audit performed under the Uniform Guidance
  • Identifying federal awards
  • Pass-through entities and subrecipients
  • Schedule of expenditure of federal awards
  • Determination of major programs
  • Using the compliance supplement
  • Uniform Guidance administrative requirements and cost principles
  • Testing internal control over compliance
  • Testing compliance
  • Reporting requirements of a single audit

Learning objective(s)

  • Identify what a single audit encompasses
  • Identify key auditee and auditor responsibilities in the compliance audit of federal awards
  • Identify the basic audit requirements in a Uniform Guidance compliance audit
  • Recognize key considerations related to the auditor's responsibilities regarding testing and reporting on compliance under the Uniform Guidance

Notes:

Course code Code JI164311
Sponsor AICPA
NASBA ID#: 112891
Level Basic
Format Self-Study (On-Demand)
Prerequisites Prereq. None
Advance
prep
None