Yellow Book and Single Audit Update
Has your organization or audit firm assessed the impact of recent changes to Government Auditing Standards, the Uniform Guidance, and the Compliance Supplement and addendum? Join us as we share information regarding receiving and spending federal funds — information that has been subject to a number of updates.
NASBA Field of Study
Melisa F. Galasso
Many organizations will be subject to a single audit for the first time as a result of government funding due to the pandemic. Whether you are new to single audits or you have years of experience, this course will provide invaluable insight into the world of government funding. Because single audit rules require both the financial statement audit and the compliance audit to be performed under Government Auditing Standards, it is imperative for staff working on these engagements to have a strong understanding of Yellow Book requirements. These standards lay the foundation for auditors to lead by example in the areas of independence, transparency, accountability, and quality through the audit process. Join us as we discuss the new Uniform Guidance, the Yellow Book, and common deficiencies. We will walk through a major program determination case study and share key insights regarding the receipt and expenditures of federal funds. We will also explore the impact of COVID-19 funding on single audits, various 2020 Compliance Supplement challenges and issues, and information on how the supplement addendum affects your single audits.
Who Will Benefit
- Preparers of financial statements subject to Yellow Book and single audit requirements
- Auditors of financial statements subject to Yellow Book and single audit requirements
- Users of financial statements subject to Yellow Book and single audit requirements
- Schedule of expenditures of federal awards
- Major program determination
- Yellow Book
- Uniform Guidance
- Compliance Supplement and addendum
- Single audits
- Common deficiencies
Group ordering for your team
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