VIRTUAL ONLY: Applying the Uniform Guidance in Your Single Audits

Description

This course provides you with the knowledge to be more efficient and effective at planning and performing audits in accordance with the requirements of the Uniform Guidance and the Single Audit Act. Make sure your skills are up-to-date with the latest information in this challenging audit area.

Highlights

  • Introduction to single audits
  • Preparation of the schedule of expenditures of federal awards and determining major programs
  • Understanding, assessing and testing internal control
  • Testing compliance with federal statutes and regulations and applicable compliance requirements
  • Auditor reporting in a Uniform Guidance compliance audit
  • Program-specific audits
  • Administrative requirements and cost principles in a single audit
  • Update on Government Auditing Standards, 2018 Revision

Objectives

  • Analyze the relationship of the Single Audit Act and the OMB Uniform Guidance
  • Identify the types of guidance and requirements found in the Uniform Guidance
  • Identify fundamental auditee and auditor responsibilities related to a compliance audit of federal awards
  • Determine major federal programs
  • Determine the requirements of the single audit as it relates to understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards
  • Identify the single audit requirements for testing the direct and material compliance requirements for major programs
  • Determine reporting requirements
  • Identify the audit and reporting requirements for program-specific audits

Designed For

Auditors performing single audit engagements, internal financial staff of governments, and not-for-profit entities interacting with auditors



Leaders

Beth Stenberg

Ms. Stenberg is currently the Financial Advisor for the Minority Caucus of the merged Louisville-Jefferson County Metro Government. She was the CFO of Jefferson County before the merger in 2003. Ms. Stenberg advises the council on financial issues of their $800+ million budget with over 7,000 employees. Prior to 1999, she worked in the Farm Credit System for 23 years in capacities such as Vice President, Financial Services and Chief Information Officer. She also owned a construction company that specialized in commercial and residential remodeling.

From 2000 to 2004 she served on the Governmental Accounting Standards Board Advisory Council, where she served as the Vice-Chairman for three years. In 2003, Beth served on AGA's pilot program to develop a certification program for Excellence in Governmental Performance Reporting. In 2006 and 2007 Beth served as Chairman of the Governmental Committee and is a past member of the Financial Literacy Task Force for the Kentucky Society of CPAs. Since 2007, she has served on the Board of the Kentucky Society of CPAs.

Ms. Stenberg taught in Tajikistan as well as with the Farm Credit System before coming to the AICPA, where she teaches continuing professional education courses to state societies and professional organizations nationwide. Beginning with the 2006 CPE year, Ms. Stenberg authored two payroll tax manuals and effective with the 2009 season a course on Individual Retirement Accounts. Beth is a 2007 and 2008 AICPA Distinguished Speaker recipient.