Single auditing can seem so complex! With literally thousands of pages of potential AICPA, GAO and OMB literature coming together for the audit of one client, auditors can easily lose focus and confidence in what they are supposed to do. It does not have to be that way! This course is designed to sharpen your skills and knowledge in performing single audits (including the impact of the 2024 revision to the Uniform Guidance for Federal Awards). Over 30 focused exercises are included to provide an enhanced working knowledge of the most critical challenges in single auditing today.
Learning Objectives
- Thoroughly understand what a single audit includes and excludes
- Apply some of the best practices and avoid some of the worst mistakes seen in single audits
- Skillfully apply today’s single audit requirements
Major Topics
- The key requirements and responsibilities related to the schedule of expenditures of federal awards and major program determination
- The process of how the auditor determines the direct and material compliance requirements, obtains an understanding of and tests the related internal controls, and performs compliance testing
- The development and reporting of findings in the schedule of findings and questioned costs
- Additional performance and reporting responsibilities
