- NY Credits : 3.0
- TX Credits : 3.0
This update includes the requirements of the 2018 revision of the Yellow Book that were effective for periods ending on or after June 30, 2020. Early implementation was not permitted. This update provides expanded discussion of impairments to auditor independence, particularly as they relate to nonaudit services provided to audit clients. This update also provides increased emphasis on the knowledge, skills, and abilities that an auditee must possess in order for an auditor to maintain independence while providing a nonaudit service to that auditee.
Included with subscription(s):
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.