Advanced Topics in a Single Audit: Reporting in a Uniform Guidance Compliance Audit

Key reporting issues

Using a matrix, gain clarity on the three levels of reporting requirements for a single audit: GAAS, Government Auditing Standards, and the Uniform Guidance. Understand how these standards and requirements expand the level of auditor responsibility from reporting on an auditee’s financial statements to also reporting on internal control and on compliance. Learn about advanced topics that require particular attention.

Schedule of findings

Learn how to prepare a schedule of findings and questioned costs that includes the following three components:

• A summary of the auditor’s results
• Findings relating to the financial statements that are required to be reported in accordance with Government Auditing Standards
• Findings and questioned costs for federal awards Understand your reporting requirements and other communication considerations in a compliance audit performed in accordance with the Uniform Guidance.

Put into practice

Use case studies to put the guidance into practice by identifying the appropriate report wording under the new suite of auditing standards.

Who Will Benefit

Auditors responsible for planning, directing, and reporting on single audits

Key Topics

• The reports required to be issued in a single audit.
• The requirements related to preparing a schedule of findings and questioned costs.
• Advanced audit reporting issues.

Learning Outcomes

Interpret and evaluate the reporting requirements of a single audit.