Yellow Book and Single Audit Deficiencies  

Upon successful completion of this course, the user should be able to:

• identify what an auditor should do when it is discovered that his or her independence is impaired;

• identify the prohibited nonaudit services that always impair auditor independence;

• recognize the Yellow Book's CPE requirements;

• identify the Uniform Guidance threshold of federal award expenditures that requires a single audit;

• recognize the required auditor actions when internal controls over some or all of the compliance requirements for a major program are likely to be ineffective;

• recognize the components of the risk of material noncompliance; and

• recognize where audit findings are required to be reported under the Uniform Guidance.