Advanced Topics in a Single Audit

As an advanced auditor, learn how to assess the responsibilities of the auditor and auditee in a compliance audit of federal awards; evaluate whether requirements for the schedule of expenditures of federal awards have been met and whether the correct major programs were identified; and interpret the requirements for internal controls, risk assessment, and sampling.

• Qualifies for 10 Yellow Book CPE Credits

• Assess fundamental auditee and auditor responsibilities in a compliance audit of federal awards.
• Evaluate whether the requirements related to the schedule of expenditures of federal awards have been met in your audit engagement.
• Evaluate that proper major federal programs to be audited in a compliance audit were identified.
• Interpret the requirements for understanding internal controls, identifying and assessing the level of control risk and testing the effectiveness of internal controls relative to federal awards.
• Interpret and evaluate the reporting requirements of a single audit.
• Interpret and evaluate guidance regarding sampling in a compliance audit.

• Planning the compliance audit and other risk assessment considerations
• Required elements of the schedule of expenditures of federal awards
• Major program determination process, including clusters and loans/loan guarantees
• Considerations when assessing and evaluating internal controls over compliance
• Audit sampling
• Evaluating and reporting on applicable compliance requirements related to compliance testing
• Considerations for pass-through entities
• Advanced audit reporting issues