Primary Sources of Single Audit Guidance

    Primary Sources of Single Audit Guidance 

    The primary sources of AICPA audit standards and guidance regarding single audits are Statement on Auditing Standards (SAS) No. 117, Compliance Audits (AICPA, Professional Standards, vol. 1, AU sec. 801), and the AICPA Audit Guide Government Auditing Standards and Circular A-133 Audits (the Guide) . In addition to guidance on performing audits under Government Auditing Standards, the Guide provides guidance on the auditor's responsibilities when conducting a single audit or program-specific audit  in accordance with the Single Audit Act and Circular A-133. 

    Circular A-133 provides for the issuance of a compliance supplement to assist auditors in planning and performing the required audits. Office of Management and Budget (OMB) Circular A-133, Compliance Supplement (the Supplement) identifies important compliance requirements that the federal government expects to be considered as part of an audit in accordance with the Single Audit Act and Circular A-133. Use of the Supplement is mandatory. 

    The Supplement is updated annually and contains specific audit guidance relating to individual federal programs. The Supplement provides a source of information for auditors to understand federal program objectives, procedures, and compliance requirements, as well as audit objectives and suggested audit procedures for determining compliance with these requirements.

     

    2014 Months in Review

    Risk Assessment and Internal Control Publications
    A description of publications available on risk assessment.

    Prospective Financial Information
    A description of publications available on prospective financial information.

    Service Organizations Publications
    A description of publications available on service organizations.

    IFRS Publications
    A description of publications available on IFRS.

    Property and Liability Insurance Entities
    A description of publications available on property and liability insurance entities.

    Oil and Gas Producing Entities
    A description of publications available on oil and gas producing entities.

    Life and Health Insurance Entities
    A description of publications available on life and health insurance entities.

    Not-For-Profit Entities
    A description of publications available for not-for-profit entities.

    Independence and Ethics
    A description of publications available on independence.

    Health Care Entities
    A description of products available for health care entities.

    Depository and Lending Institutions
    A description of products available on depository and lending institutions.

    Compilation and Review Engagements
    A description of publications available on compilation and review engagements.

    Gaming
    A description of publications available on the gaming industry.

    Government Auditing Standards and Circular A-133
    A description of publications available on Government Auditing Standards and Circular A-133.

     

    2014 Months in Review

    Risk Assessment and Internal Control Publications
    A description of publications available on risk assessment.

    Prospective Financial Information
    A description of publications available on prospective financial information.

    Service Organizations Publications
    A description of publications available on service organizations.

    IFRS Publications
    A description of publications available on IFRS.

    Property and Liability Insurance Entities
    A description of publications available on property and liability insurance entities.

    Oil and Gas Producing Entities
    A description of publications available on oil and gas producing entities.

    Life and Health Insurance Entities
    A description of publications available on life and health insurance entities.

    Not-For-Profit Entities
    A description of publications available for not-for-profit entities.

    Independence and Ethics
    A description of publications available on independence.

    Health Care Entities
    A description of products available for health care entities.

    Depository and Lending Institutions
    A description of products available on depository and lending institutions.

    Compilation and Review Engagements
    A description of publications available on compilation and review engagements.

    Gaming
    A description of publications available on the gaming industry.

    Government Auditing Standards and Circular A-133
    A description of publications available on Government Auditing Standards and Circular A-133.

    Open Hide documents in this section

    Page  1
    Showing results 1 - 1 of 1
    Order by:


    Primary Sources of Single Audit Guidance

    Article Explains the primary sources of AICPA audit standards and guidance regarding single audits, which are; Statement on Auditing Standards (SAS) No. 117, Compliance Audits.
    Published on June 04, 2014

    Page  1
    Showing results 1 – 1 of 1
    Show Results per page

    Related AICPA Products



    Not-for-Profit Entities - Audit and Accounting Guide

    Considered the industry standard resource and updated as of March 1, 2014, this resource provides practice guidance for industry accounting and authoritative auditing. Packed with information to help with complex topics such as: fair value considerations, accounting for contributions and grants, reporting donor restrictions, and guidance on functional expenses and joint costs.



    Employee Benefit Plans - Audit and Accounting Guide

    Considered the industry standard resource, this Guide provides practical guidance for Employee Benefit Plan accounting and auditing. Packed with information on new requirements; including offsetting of derivatives, financial assets and financial liabilities, and technical corrections and improvements, this Guide is an indispensable resource.

    Copyright © 2006-2014 American Institute of CPAs.