Advanced Topics in a Single Audit

Description

Be prepared for the weighty responsibilities of planning, directing,and reporting on a single audit engagement conducted under the Uniform Guidance.  This course gives you insights into key issues that are not covered in other courses, with an emphasis on advanced topics that require particular attention.  Case studies are provided to help put the guidance into practice.

Highlights

Planning the compliance audit and other risk assessment considerations

Required elements of the Schedule of Expenditures of Federal Awards

Major program determination process, including the considerations of clusters, loans, and loan guarantees

Considerations when assessing and evaluating internal controls over compliance

Evaluating and reporting on applicable compliance requirements related to compliance testing

Considerations of pass-through entities and subrecipients

Audit sampling  in a compliance audit

Advanced audit reporting issues

Objectives

Assess when planning a compliance audit of federal awards.

Evaluate whether the requirements related to the Schedule of Expenditures of Federal Awards (SEFA) have been met in your audit engagement

Evaluate whether major federal programs to be audited have been appropriately identified.

Interpret the requirements for understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards.

Interpret and evaluate the reporting requirements of a single audit.

Interpret and evaluate guidance regarding sampling in a compliance audit.

Identify considerations related to pass-through entities.

Designed For

Auditors responsible for planning, directing and reporting on single audits.