Single Audits of Government-Funded Activities Webinar

Overview: 

Auditors and finance personnel of government and not-for-profit organizations need a practical approach for reporting on single audits. This targeted, one-day webinar will provide you with a framework for this process. You will:

  • Learn how to comply with the Single Audit Act, the Yellow Book, and Uniform Guidance
  • Understand appropriate rules and regulations
  • Review relevant accounting and auditing guidance
Objective: 

To provide financial professionals who serve or audit government and not-for-profit organizations with a systematic approach to reporting on single audits. You will learn about the roles and responsibilities associated with single audits and how to comply with all relevant rules and regulations.

Emphasis: 
  • Uniform Guidance
  • Auditor independence, including the most recent independence rules
  • Who is subject to a Single Audit
  • Differentiating among recipients, subrecipients and contractors
  • Responsibility for detecting fraud
  • Evaluating internal controls and internal control structure
  • Sampling and testing
  • Monitoring subrecipients
  • Determining major programs using risk analysis
  • Report content and filing requirements, including the Schedule of Expenditures of Federal Awards (SEFA)
  • Annual Compliance Supplement
  • Impacts of COVID-19 on reporting
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Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
8.00
NASBA Field of Study: 
Auditing