Single Audit Primer (Currently Unavailable)

Author: Leita Hart-Fanta

CPE Credit:  3 hours for CPAs

Single audits are different. The federal government demands a lot of a grantee and their auditor. In this course, we will cover the audit requirements that exceed AICPA standards in the GAO’s Yellow Book.

Number of Pages: 87

Publication Date: February 2015

Designed For
Auditors and monitors conducting audits of federal grants and programs.

Topics Covered

  • Single Audits are Different
  • Difference #1: The Single Audit is Three Audits in One
  • Difference #2: Three Layers of Standards and Requirements
  • Difference #3: Levels of Materiality
  • Difference #4: A Litany of Criteria and Defining Documents
  • Difference #5: Control Work Always!

Learning Objectives

  • Identify the significant differences between a commercial financial audit and a Single Audit
  • Identify the three subjects of a single audit
  • Compare the requirements of the AICPA, the GAO, and OMB Circular A-133
  • Define significant requirements of the Yellow Book
  • Distinguish between fraud, abuse, and noncompliance
  • Order the levels of materiality on a Single Audit

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Auditing (Governmental) (3 hours)

Program Prerequisites
One or more years of financial audit experience.

Advance Preparation
None

">
 Chat — Books Support