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Auditor Considerations: The Coronavirus State and Local Fiscal Recovery Funds Program

Description

Navigating single audits that include CSLFRF COVID-19 relief funding

Many auditors will have to audit the Coronavirus State and Local Fiscal Recovery Funds Program for the first time in 2022.

The $350 billion program is one of the largest federal programs subject to single audit ever, with over 30,000 recipients.

Although funding went primarily to states, local government, and tribal entities, those recipients could potentially pass the funding down to not-for-profits or even for-profit entities.

Adding to the challenge is that many small local government recipients of this funding have not had to undergo an audit of federal financial assistance in the past.

This two-hour webcast by the Governmental Audit Quality Center (GAQC) is intended to help auditors having to address this program in their single audits.

Learning Objectives

* Identify how the Coronavirus State and Local Fiscal Recovery Funds Program affects single audits.
-* Analyze auditor considerations and challenges and take appropriate action.
-* Use best Practice tips and resources to achieve a quality single audit.

Major Topics

* Program requirements and guidance on concepts such as revenue loss and eligible uses
* What non* entitlement units (NEUs) are and related considerations
* Information about subrecipients and beneficiaries of this funding
* The Compliance Supplement section for this program
* Auditor and challenges
* Single audit
* Uniform Guidance

Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting and Auditing
Accounting & Auditing
CPE Field of Study
TBD
Who Should Attend

* Auditors performing single audits

Prerequisites

Basic knowledge of single audits

Advanced Preparation

None

Location
Online – AICPA Platform
Event Information
When
Jun 23, 2022
11:00 am - 1:00 pm EDT
Location
Online – AICPA Platform
Total CPE Credits
2
Format
Webcast Replay

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Auditor Considerations: The Coronavirus State and Local Fiscal Recovery Funds Program


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