Performing a Single Audit Under the Uniform Guidance

Overview

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

Highlights

Fundamentals of a compliance audit performed under the Uniform Guidance

Identifying federal awards

Pass-through entities and subrecipients

Schedule of expenditure of federal awards (SEFA)

Determining major programs

Using the compliance supplement

Uniform guidance administrative requirements and cost principles

Testing internal control over compliance

Testing compliance

Writing an audit finding

Reporting requirements of a single audit

Prerequisites

None

Designed For

auditors performing single audit engagements internal financial staff of governments notforprofit entity staff who interact with auditors

Objectives

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.

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Melisa Galasso, Galasso Learning Solutions

Leader Bios

Melisa Galasso, Galasso Learning Solutions

Melisa Galasso, CPA is the founder and CEO of Galasso Learning Solutions LLC. A CPA with nearly 20 years of experience in the accounting profession, Melisa designs and facilitates courses in advanced technical accounting and auditing topics, including not-for-profit and governmental accounting. She also supports essential professional development, audit level training, and train the trainer efforts. Melisa is a Certified Speaking Professional (CSP), a Certified Professional in Talent Development (CPTD), and has earned the Association for Talent Development Master Trainer™ designation. Her passion for instructional design and adult learning techniques is one of the differentiators that set her apart from other CPE providers. Within the industry, Melisa serves on the FASB’s Not-for-Profit Advisory Committee (NAC) and AICPA Council. She previously served on the AICPA’s Technical Issues Committee (TIC), the VSCPA’s Board of Directors and is a past-Chair of the NCACPA’s A&A committee. Melisa also authors the Money Matters for Nonprofits and serves as a SME for the Center for Plain English Accounting.

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