Audits conducted under the Uniform Guidance for Federal Awards continue to be among the most challenging audit engagements as the number of federally funded programs for not-for-profit organizations continues to increase. This course will provide you with what you need to know to prepare for Single Audits conducted during 2025, including performing the compliance audit and auditor reporting responsibilities.
Learning Objectives
- Learn the latest updates in Single Audit engagements
- Identify auditor and auditee responsibilities in the compliance audit of federal awards
- Review the concepts of major program determination
Major Topics
- Concepts of the Single Audit under the Uniform Guidance
- Performing the compliance audit of federal awards, including testing auditee compliance and internal control over compliance
- Auditor reporting responsibilities including the compliance audit reports, the report on the schedule of expenditures of federal awards, and schedule of findings and questioned costs
- Requirements for the schedule of expenditures of federal awards, known as the SEFA
- Update on the OMB Compliance Supplement
