- NY Credits : 7.0
- TX Credits : 7.0
Governmental and nonprofit entities that expend more than $750,000 in federal award funds annually are subject to the requirements of the Single Audit Act. This program considers the new audit guidance in 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and its related Compliance Supplement. Performance and reporting guidance for the auditor are discussed as well as the interplay between Yellow Book audits and grants management.
This course focuses on the development of in-depth knowledge, skill and application of Single Audits. This course is most appropriate for the professional with mastery of Single Audits who may be a seasoned professional within an organization but also may be appropriate for other professionals with specialized knowledge in this subject.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
identify reasons the Single Audit Act was enacted,
identify the costs of Single Audits and the threshold for determining if a Single Audit is required,
recognize the various elements of a Single Audit and the responsibilities for those elements,
identify the auditor's responsibility for the auditee's internal control,
recognize the programs to be audited as major programs,
identify the compliance audit objectives listed in the Compliance Supplement, and
recognize the reports the auditor and the auditee are required to prepare related to Single Audits.