Performing a Single Audit Under the Uniform Guidance

Presented by Melisa F. Galasso

Presentation type = pre-record/rebroadcast

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

Auditors performing single audit engagements

Internal financial staff of governments

Not-for-profit entity staff who interact with Auditors

• 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.

Fundamentals of a compliance audit performed under the Uniform Guidance

Identifying federal awards

Pass-through entities and subrecipients

Schedule of expenditure of federal awards (SEFA)

Determining major programs

Using the compliance supplement

Uniform guidance administrative requirements and cost principles

Testing internal control over compliance

Testing compliance

Writing an audit finding

Reporting requirements of a single audit