Auditors performing Single Audits and other compliance audits accept a significant amount of risk. Not only are the rules voluminous but they are ever changing. Peer reviewers and agency reviewers have identified numerous issues with Single Audits resulting in firms being referred to the AICPA ethics division. This is why it is critical that those who perform work under Government Auditing Standards (Yellow Book), the Uniform Guidance or other agency compliance audit guides understand and properly test and document compliance with those requirements. To complicate matters the Single Audit landscape has been in flux for two years ever since the federal government began providing COVID-19 funding. It is important to be up to date on filing deadlines, the latest compliance requirements, and changes to the Uniform Guidance. This course will discuss the essentials of performing Single Audits, the most recent guidance on federal awards for not-for-profits, governments, and for-profit entities and recent peer review and agency findings. This course will benefit accountants working in industry who are handling any aspect of federal award compliance.

 

Presented by Marci Thomas, Kaplan Education