Single Audit Fundamentals Part 3: Compliance Requirements and Internal Control over Compliance

This Governmental Audit Quality Center (GAQC) webcast series is intended for staff new to performing single audits or those that just need a refresher.

Once staff are trained at a basic level, they can take advantage of more advanced training offered by the GAQC.

Part 3 of the 4-part series covers:

• An introduction to the annual Office of Management and Budget Compliance Supplement (Supplement)
• Identifying compliance requirements subject to audit using the Supplement
• Determining direct and material compliance requirements
• 2 CFR Part 200 - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
• Understanding and testing the compliance requirements
• Documentation requirements

Key Topics

• Single audits
• 2 CFR Part 200
• Understanding, assessing, and testing internal control over compliance
• Testing compliance with federal statutes and regulations and compliance requirements subject to audit

Learning Outcomes

• Recognize the requirements of the single audit as it relates to understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards.
• Identify the single audit requirements for testing the direct and material compliance requirements for major programs.

Who Will Benefit

Auditors of not-for-profits and state and local governments subject to single audits