Advanced Topics in a Single Audit: Internal Control and Compliance Auditing
As an advanced auditor, learn how to interpret the requirements for internal controls and compliance auditing.
Format
Online
NASBA Field of Study
Accounting (Governmental)
Level
Advanced
CPE Credits
2
Author(s)
Melisa F. Galasso
Availability
1 year
Product Number
AICCA21SSO
Be ready for compliance auditing
Key issues
Gain insight into key issues related to internal control and compliance auditing. As it relates to internal control, gain an understanding about the following requirements of the Uniform Guidance:
- perform procedures to obtain an understanding of internal control over federal programs sufficient to plan the audit to support a low assessed level of control risk of noncompliance for major programs;
- plan the testing of internal control over compliance for major programs to support a low assessed level of control risk of noncompliance for the assertions relevant to the compliance requirements for each major program; and
- perform testing of internal control over compliance as planned; and report on internal control over compliance, describing the scope of testing of internal control and the results of the tests and, where applicable, referring to the separate schedule of findings and questioned costs.
Understand the importance of documenting the work that was done.
Learn about various aspects of the compliance audit that require particular attention, including information about performing a compliance audit and obtaining the audit evidence needed to express an opinion on compliance.
Advanced topics
Explore advanced topics including the following:
- Ineffective internal controls
- Dual-purpose testing
- Subrecipients
- Program clusters
Who Will Benefit
Auditors responsible for planning, directing, and reporting on single audits
Key Topics
- Considerations when assessing and evaluating internal controls over compliance
- Evaluating and reporting on applicable compliance requirements related to compliance testing
Learning Outcomes
- Interpret the requirements for understanding internal control, assessing the level of control risk, and testing the effectiveness of internal control relative to federal awards.
- Determine how to perform a compliance audit and how to obtain the audit evidence needed to express an opinion on compliance.
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