Preparing for your First Single Audit: An Auditee Perspective

Beyond the basics

Auditees play a key role in the single audit process. With the significant influx of federal funding due to the COVID-19 pandemic, there will likely be many entities that have never had to undergo a single audit before. This webcast will focus on helping auditees better understand what is involved and these areas and will include the following topics:

• Auditee requirements and responsibilities in a single audit including compliance, internal control over compliance, the Schedule of Expenditures of Federal Awards, the Data Collection Form, the Summary of Prior Audit Findings, and the Corrective Action Plan
• What auditors are required to do in a single audit, including major program determination and reporting findings, and what is generally needed from management
• Tips for getting ready for a single audit and important COVID-19 considerations.

Key Topics

• Single Audit
• COVID-19
• Government Auditing Standards

Learning Outcomes

• Identify the requirements and responsibilities of auditees in a single audit.
• Identify the requirements and responsibilities of auditors in a single audit.
• Use information about important COVID-19 considerations to prepare for your first single audit.

Who Will Benefit

• Auditees who are recipients of COVID-19 Relief Funding and are subject to their first ever single audit or governmental compliance audit and their auditors.