This course focuses on areas that may need special attention in a single audit. Increase your knowledge regarding these areas found in single audits and Yellow Book engagements using simulated case studies and practice exercises with lessons for today’s issues. These case studies and practice exercises are based on Government Auditing Standards, 2011 Revision and the Uniform Guidance and will assist you in avoiding common mistakes and recognizing deficiencies before it’s too late.
Course ID: SAYB
Studies on Single Audit and Yellow Book Deficiencies
- Identify issues related to engagement letters.
- Analyze the requirements of continuing professional education (CPE) under the Yellow Book CPE rules.
- Compare key points concerning the Government Auditing Standards, 2011 Revision Independence Framework to related issues.
- Identify considerations for major program determination.
- Determine the process of drafting an audit finding.
- Differentiate auditee and auditor responsibilities related to the Schedule of Expenditures of Federal Awards (SEFA) and potential problem areas in SEFA presentation.
- Identify the reporting requirements of a single audit.
• Engagement letters • Management representation letters • Yellow Book CPE • The Government Accountability Office and Independence • Major program determination • Abuse • Fraud risk factors • Audit sampling • Documentation • Drafting findings • SEFA • Reporting requirements • Update on Government Auditing Standards, 2018 Revision
Who Should AttendAuditors performing single audits and internal financial staff of governmental and not-for-profit entities
Fields of StudyAuditing
Experience in Yellow Book and OMB environment