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

When you complete this course, you will be able to:

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, and staff of not-for-profit entities interacting with auditors

Prerequisites

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

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy. https://www.ctcpas.org/events/cpe-policies

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

John D'Amico, Managing Director, CBIZ Marks Paneth

Leader Bios

John D'Amico, Managing Director, CBIZ Marks Paneth

John D’Amico, CPA, is a CBIZ Managing Director and MHM shareholder within the Professional Standards Group at CBIZ MHM, which is responsible for monitoring quality control in the firm as mandated by professional standards. He specializes in pre-issuance reviews and inspections of nonprofit organizations, governments and Single Audits. Mr. D’Amico also provides consultation on accounting and attestation matters and tests and monitors the firm’s quality review policies and procedures. He also is a Subject Matter Expert for the Peer Review Division of the American Institute of Certified Public Accountants (AICPA), providing oversight on their behalf. Additionally, he teaches continuing education classes for the firm and on behalf of the AICPA nationally. John is also a member of the Executive Committee for the AICPA Government Audit Quality Center (GAQC).

As a sought-out thought leader in his areas of expertise, Mr. D’Amico has authored numerous articles pertaining to nonprofit accounting/auditing, governmental auditing standards and Uniform Guidance. He frequently leads training seminars for his clients and is an instructor for the American Institute of Certified Public Accountants (AICPA). He has presented at the annual Nonprofit Conferences of the New York State Society of CPAs; the New Jersey Society of CPAs; and the Connecticut Society of CPAs; as well as the annual Governmental Conferences of the Connecticut Society of CPAs and the Michigan Society of CPAs.

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