Advanced Topics in a Single Audit
As an advanced auditor, learn how to assess the responsibilities of the auditor and auditee in a compliance audit of federal awards; evaluate whether requirements for the schedule of expenditures of federal awards have been met and whether the correct major programs were identified; and interpret the requirements for internal controls, risk assessment, and sampling.
Format
Online
NASBA Field of Study
Auditing (Governmental)
Level
Advanced
CPE Credits
10
Author(s)
Melisa F. Galasso
Availability
1 year
Product Number
ADUG21SSO
Get up-to-date skills and information
Key issues
Learn about key issues that can arise in a single audit engagement conducted under the Uniform Guidance.
Enhance your knowledge and test your ability to plan, perform and evaluate single audits in accordance with the requirements of the Uniform Guidance using case studies and real-world examples.
Who Will Benefit
Auditors responsible for planning, directing, and reporting on single audits.
Key Topics
- Planning the compliance audit and other risk assessment considerations
- Required elements of the schedule of expenditures of federal awards
- Major program determination process, including clusters and loans/loan guarantees
- Considerations when assessing and evaluating internal controls over compliance
- Audit sampling
- Evaluating and reporting on applicable compliance requirements related to compliance testing
- Considerations for pass-through entities
- Advanced audit reporting issues
Learning Outcomes
- Assess fundamental auditee and auditor responsibilities in a compliance audit of federal awards.
- Evaluate whether the requirements related to the schedule of expenditures of federal awards have been met in your audit engagement.
- Evaluate that proper major federal programs to be audited in a compliance audit were identified.
- Interpret the requirements for understanding internal controls, identifying and assessing the level of control risk and testing the effectiveness of internal controls relative to federal awards.
- Interpret and evaluate the reporting requirements of a single audit.
- Interpret and evaluate guidance regarding sampling in a compliance audit.
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