This course provides an overview of single audit requirements and how generally accepted auditing standards and government auditing standards apply to a compliance audit.
Learning Objectives
• Identify what a single audit encompasses
• Understand the audit responsibilities between auditors and auditees in the compliance audit of federal awards
• Gain an overview of the Uniform Guidance
Major Topics
• Cost Principles
• Understand and Identify Federal Awards
• Pass-through entities and sub-recipients
• Schedule of Expenditures of the Federal Awards
• Application of Compliance Supplement
• Compliance requirements
• Test of Internal Control and Test of Compliance attributes
• Reporting requirements
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