Applying the Uniform Guidance in Your Single Audits

Overview

Designed to provide you with the knowledge to be more efficient and effective at planning and performing audits in accordance with the requirements of the Uniform Guidance and the Single Audit Act, this course examines how the Single Audit Act relates to OMB Uniform Guidance, as well as the different types of guidance and requirements found in the Uniform Guidance. The course also covers responsibilities and requirements of the auditor and the auditee, how to identify federal assistance and how to determine a nonfederal entity’s major programs. Make sure your skills are up to date with the latest information in this challenging audit area.

Objectives

Analyze the relationship of the Single Audit Act and the OMB Uniform Guidance.
Identify the types of guidance and requirements found in the Uniform Guidance.
Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards.
Determine major federal programs.
Determine 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.
Determine reporting requirements.
Identify the audit and reporting requirements for program-specific audits.

Highlights

Introduction to single audits

Preparation of the schedule of expenditures of federal awards and determining major programs

Understanding, assessing, and testing internal control

Testing compliance with federal statutes and regulations and applicable compliance requirements

Auditor reporting in a Uniform Guidance compliance audit

Program-specific audits

Administrative requirements and cost principles in a single audit

Designed For

Auditors performing single audit engagements

Internal financial staff of governments

Staff of not-for-profit entities interacting with auditors.

Prerequisites

Background of not-for-profit or governmental accounting and auditing

Notice

You will receive an email from the AICPA with instructions to access the webinar.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Melisa Galasso, Founder and CEO, Galasso Learning Solutions LLC

Leader Bios

Melisa Galasso, Founder and CEO, Galasso Learning Solutions LLC

Melisa Galasso is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She also supports essential professional development, audit level training, and train the trainer efforts. Melisa is a Certified Professional in Talent Development (CPTD) and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers. Within the industry, Melisa serves on the FASB’s Not-for-Profit Advisory Committee (NAC), AICPA Council, and the VSCPA’s Board of Directors. She previously served on the AICPA’s Technical Issues Committee (TIC) and is a past-Chair of the NCACPA’s A&A committee. Melisa also authors the AICPA’s State and Local Government Guide and serves as a SME for the Center for Plain English Accounting.

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