Performing a Single Audit Under the Uniform Guidance

Overview

Performing a single audit

Exploring various topics related to single audits will give you the knowledge you need to perform these engagements skillfully. You can learn about:

Major program determination

Pass-through entity responsibilities

SEFA requirements

The Compliance Supplement requirements

The administrative requirements and cost principles found in the Uniform Guidance

Uniform Guidance compliance audit basics

Gaining an understanding of the Uniform Guidance basics will prepare you for compliance audit engagements. You can examine various topics, such as:

Requirements overview

Applying GAAS and the Yellow Book to compliance audits

Entities that must undergo this type of engagement

Federal awards decoded

You can also learn the different types of federal awards, along with audit implications for a recipient or subrecipient. Federal award topics covered include:

Becoming aware of the SEFA

Major program determination

Testing and reporting responsibilities

You will acquire a fundamental understanding of your responsibilities related to testing and reporting by examining topics, such as:

Testing internal control over compliance

Testing compliance

Writing an audit finding

Objectives

Identify what a single audit encompasses.
Identify key auditee and auditor responsibilities in the compliance audit of federal awards.
Identify the basic audit requirements in a Uniform Guidance compliance audit.
Identify the responsibilities of a pass-through entity.
Identify the auditor and auditee responsibilities related to the schedule of expenditures of federal awards (SEFA).
Identify the auditor and auditee responsibilities related to internal control over compliance related to federal awards.
Recognize key considerations when sampling in a Uniform Guidance compliance audit.
Recognize the auditor's reports required by the Uniform Guidance.

Highlights

Fundamentals of a compliance audit performed under the Uniform Guidance

Identifying federal awards and major programs

Pass-through entities and subrecipients

Schedule of expenditure of federal awards (SEFA)

Using the Compliance Supplement

Uniform Guidance administrative requirements and cost principles

Testing internal control over compliance

Writing an audit finding and reporting requirements of a single audit

Designed For

Auditors performing single audit engagements

Internal financial staff of governments

Not-for-profit entity staff who interact with auditors

Prerequisites

None

Notice

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

Fees

Credits

Specialized Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Rebecca Meyer, AICPA

Leader Bios

Rebecca Meyer, AICPA

Rebecca Meyer Rebecca Meyer, CPA, CGMA, is President of RAM CPA, PLLC located in Raleigh, NC and is a seasoned CPA and management accountant with more than 22 years of technical finance and leadership expertise in various aspects of attest, accounting and compliance services. Her firm specializes in collaborating with state and local governments, nonprofit organizations, small businesses, regulators, and other CPA firms to provide high quality audit, attest, accounting, finance, and compliance services. Prior to forming her own firm, Ms. Meyer worked for eleven years as a Technical Manager in the AICPA’s Professional Ethics Division, where she helped to enforce the AICPA’s Code of Professional Conduct by investigating allegations of violations of technical accounting and attest standards, including U.S. Generally Accepted Accounting Principles (“GAAP”), Generally Accepted Auditing Standards (“GAAS”), Generally Accepted Government Auditing Standards (“GAGAS”), Uniform Guidance, ERISA and others. In this role, she assisted in remediation and education of members to improve the overall quality of professional services performed in the industry. Ms. Meyer specializes in government, nonprofit and Single Audit engagements. Ms. Meyer is a member of the AICPA and the North Carolina Association of CPAs. She serves on the AICPA’s Technical Standards Subcommittee as well as the Government Accounting and Auditing Committee and the Nonprofit Accounting and Auditing Committee of the North Carolina Association of CPAs.

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