Overview
Advanced auditors need to be prepared for complicated issues that can occur during single audits. They also need to understand the responsibilities of planning, directing, and reporting on single audits conducted under the Uniform Guidance. This course will
provide insights into key topics, including knowing the responsibilities of the auditor and the auditee in compliance audits of federal awards, evaluating whether requirements for the schedule of expenditures for federal awards have been met, and interpreting the requirements for internal controls, risk assessment, and sampling.
Objectives
- Assess additional considerations related to a Uniform Guidance compliance audit and audits conducted under Government Auditing Standards beyond the fundamental concepts.
- Formulate the terms of the engagement and planning considerations.
- Evaluate whether the SEFA is fairly stated, in all material respects, in relation to the auditee’s financial statements as a whole.
- Assess major programs using a four-step process.
- Evaluate the responsibilities of the nonfederal entities and auditors as they relate to internal control over compliance.
- Formulate how to perform a compliance audit and how to obtain the audit evidence needed to express an opinion on compliance.
- Evaluate considerations related to sampling in a compliance audit performed under the Uniform Guidance.
- Evaluate considerations of pass-through entities and subrecipients.
- Assess reporting considerations in a Uniform Guidance compliance audit.
