Performing a Single Audit Under the Uniform Guidance

Performing a single audit

Exploring various topics related to single audits will give you the knowledge you need to perform these engagements skillfully. You can learn about:

• Major program determination
• Pass-through entity responsibilities
• SEFA requirements
• The Compliance Supplement requirements
• The administrative requirements and cost principles found in the Uniform Guidance

Uniform Guidance compliance audit basics

Gaining an understanding of the Uniform Guidance basics will prepare you for compliance audit engagements. You can examine various topics, such as:

• Requirements overview
• Applying GAAS and the Yellow Book to compliance audits
• Entities that must undergo this type of engagement

Federal awards decoded

You can also learn the different types of federal awards, along with audit implications for a recipient or subrecipient. Federal award topics covered include:

• Becoming aware of the SEFA
• Major program determination

Testing and reporting responsibilities

You will acquire a fundamental understanding of your responsibilities related to testing and reporting by examining topics, such as:

• Testing internal control over compliance
• Testing compliance
• Writing an audit finding

Who Will Benefit

• Auditors performing single audit engagements
• Internal financial staff of governments
• Not-for-profit entity staff who interact with auditors

Key Topics

• Fundamentals of a compliance audit performed under the Uniform Guidance
• Identifying federal awards and major programs
• Pass-through entities and subrecipients
• Schedule of expenditure of federal awards (SEFA)
• Using the Compliance Supplement
• Uniform Guidance administrative requirements and cost principles
• Testing internal control over compliance
• Writing an audit finding
• Reporting requirements of a single audit

Learning Outcomes

• 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.
• Identify the responsibilities of a pass-through entity.
• Identify the auditor and auditee responsibilities related to the schedule of expenditures of federal awards (SEFA).
• Identify the auditor and auditee responsibilities related to internal control over compliance related to federal awards.
• Recognize key considerations when sampling in a Uniform Guidance compliance audit.
• Recognize the auditor’s reports required by the Uniform Guidance.