Fundamentals of a compliance audit
This webcast covers:
– Basic elements of the audit
– How GAAS and the Yellow Book apply to the compliance audit
– The different types of federal awards
– Audit implications for a recipient or subrecipient
– Who must undergo this type of engagement
The schedule of expenditures of federal awards is introduced, along with a description of major program determination and the auditor’s responsibilities related to testing and reporting.
– 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.
– Recognize key considerations related to the auditor’s responsibilities regarding testing and reporting on compliance under 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
* Determination of 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
Auditors performing single audit engagements, governmental finance staff, and staff of not-for-profit entities interacting with auditors