UG for Federal Awards: Auditor Planning Considerations for the New Single Audit Rules

This Governmental Audit Quality Center (GAQC) archived member Web event is intended to help auditors plan for the first audit engagements (i.e., December 31, 2015, year-ends) to be performed under the Office of Management and Budget (OMB) Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards at 2 CFR 200 (Uniform Guidance for Federal Awards). Additionally, this event will provide essential information for dealing with the effect of the Uniform Guidance for Federal Awards on your March 31st, June 30th, and September 30th year-end single audits now that some federal awards may be subject to the new cost principles and administrative requirements.

About the Event

Auditors need to begin considering how the new Uniform Guidance for Federal Awards will affect current and future single audit engagements.  This includes planning considerations for December 31, 2015, year-end single audits when the new audit requirements become effective, as well as other considerations for single audits of other fiscal periods ending in 2015.  This archived event will provide:

  • A high-level background and overview on the latest surrounding the new single audit requirements; 
  • A discussion about how the Uniform Guidance for Federal Awards will affect audit procedures performed in March 31st, June 30th, and September 30th, single audits;
  • Auditor planning considerations for the new single audit rules including considerations for Request for Proposals (RFPs), audit contracts, and staff training; and
  • An opportunity for you to ask your planning-related questions.

About the Presenters

Diane Edelstein, CPA, is a Partner at Maher Duessel in Pittsburgh, PA. Diane has over 20 years of experience in public accounting and has always concentrated on single audits for governmental and non-profit clients. She serves as the firm’s Director of Quality Control and Director of the Peer Review Practice. Diane spent 4 years on the GAQC Executive Committee and now serves on the Steering Committee of the AICPA Not-for-Profit Industry Conference.

Mandy Nelson, CPA, is a partner in KPMG's Department of Professional Practice. In her role, she issues guidance to KPMG offices on not-for-profit accounting, performing audits in accordance with Government Auditing Standards and performing single audits. Mandy serves as KPMG's liaison to federal agencies on single audit issues, is currently a member of the GAQC Executive Committee, and previously chaired the committee. She also served on the six task forces that the GAQC set up to respond to the federal study on the quality of single audits.

Archived Web Event Listening Instructions

Thank you for your interest in this GAQC Event.

Click on the below link, to listen to the archived Web event. There is no continuing professional education available when listening to an archived event.