Advanced Topics in a Single Audit - Webcast
Overview
Advanced auditors need to be prepared for complicated issues that can occur during single audits. They also need to understand the responsibilities of planning, directing, and reporting on single audits conducted under the Uniform Guidance. This course will provide insights into key topics, including knowing the responsibilities of the auditor and the auditee in compliance audits of federal awards, evaluating whether requirements for the schedule of expenditures for federal awards have been met, and interpreting the requirements for internal controls, risk assessment, and sampling.
YELLOW BOOK: Qualifies for Yellow Book CPE based on your unique audited entity.
Highlights
- Auditor and auditee responsibilities in a single audit
- Planning the compliance audit and other risk assessment considerations
- Required elements of the schedule of expenditures of federal awards
- Major program determination process, including clusters and loans/loan guarantees
- Considerations when assessing and evaluating internal controls over compliance
- Audit sampling
- Considerations for pass-through entities
- Advanced audit reporting issues
Prerequisites
Intermediate competency in single audits
Designed For
Auditors responsible for planning, directing and reporting on single audits
Objectives
When you complete this course, you will be able to:
- Assess fundamental auditee and auditor responsibilities in a compliance audit of federal awards.
- Evaluate whether the requirements related to the schedule of expenditures of federal awards have been met in your audit engagement.
- Evaluate whether proper major federal programs to be audited in a compliance audit were identified.
- Interpret the requirements for understanding internal controls, identifying and assessing the level of control risk, and testing the effectiveness of internal controls relative to federal awards.
- Interpret and evaluate the reporting requirements of a single audit.
- Interpret and evaluate guidance regarding sampling in a compliance audit.
Leader(s):
Leader Bios
Bruce Shepard, Ret PWC Partner & AICPA Consultant, Surgent CPE
Bruce A. Shepard is a graduate of the Wharton School of Finance and Commerce and holds an MBA in Accounting and Quantitative Methods from the University of Oregon. Bruce is a Retired Partner with PricewaterhouseCoopers who practiced in Portland for 33 years. From 1985-2006, Bruce was in charge of the Middle Market Practice for PwC in Portland, where he served as an Assurance Partner from 1989-2006. From 2006-2010, Bruce was the Chief Financial Officer of Las Vegas Gaming, Inc. in Las Vegas, Nevada where he and his wife, Liz, presently reside. In 2011-12, Bruce was an adjunct professor of accounting at the University of Oregon and at George Fox University. Beginning in 2012 through today, Bruce is an AICPA Consultant instructing over 100 classes a year in accounting and auditing.
(3/22/21)
Non-Member Price $390.00
Member Price $315.00