Performing a Single Audit Under the Uniform Guidance - Society of Louisiana Certified Public Accountants

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

Prepare for compliance audit engagements by gaining an understanding of the Uniform Guidance basics, such as:

Requirements overview

Applying GAAS and the Yellow Book to compliance audits

Entities that must undergo this type of engagement

Federal awards decoded

Learn about 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

Understand your responsibilities related to testing and reporting by examining:

Testing internal control over compliance

Testing compliance

Writing an audit finding

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

Prerequisites

None

Designed For

Auditors performing single audit engagements

Internal financial staff of governments

Not-for-profit entity staff who interact with auditors

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.