Single Audits of Government-Funded Activities Self-Study Webinar (11 Hours)


Auditors and finance personnel of government and not-for-profit organizations need a practical approach for reporting on single audits. This targeted, self-study 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

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.

  • 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

• Identify the entity responsible for the promulgation of Government Auditing Standards (GAS)

• Identify the professional standards applicable to Single Audits

• Recognize the current monetary threshold for receipt of federal funds that fall under the Single Audit requirement

• Recognize the components of a Single Audit

• Recognize the AICPA standards incorporated into GAGAS

• Identify the mandatory vs. best practice language used in the Yellow Book

• Recognize activities likely to taint an auditor’s independence towards an auditee

• Recognize the core concern with the performance of attest services for non-attest clients

• Identify the CPE requirements under GAGAS

• Identify the frequency with which Yellow Book auditors must undergo an external peer review

• Recognize the internal control responsibilities of the non-Federal entity under the OMB’s Uniform Guidance

• Recognize the accounting treatment of program income under the Uniform Guidance

• Identify the Uniform Guidance general procurement standards that federal award recipients must adhere to

• Recognize the current Uniform Guidance micro-purchase threshold

• Recognize the primary characteristics of the Schedule of Expenditures of Federal Awards (SEFA)

• Recognize the terminology used to identify a grouping of closely related programs that share common compliance requirements

• Identify the percent of coverage rule for both low-risk and high-risk auditees

• Identify the metrics applicable to a “large” loan program

• Identify the audit implication of a program being identified as a large loan program

• Recognize the significance of the determination of a “major program” per the Uniform Guidance

• Identify the grant recipient’s deadline for the submission of the Single Audit Report and the data collection form (Form SF-FAC)

• Identify the Single Audit work paper retention requirements

• Recognize specified elements of the Uniform Guidance Compliance Supplement




No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: