Does OMB Circular A-133 have you running in circles? This course provides you with the knowledge to be more efficient and effective at planning and performing audits in accordance with the requirements of OMB Circular A-133 and the Single Audit Act Amendments. Make sure your skills are up-to-date with the latest information and find out what changes are planned for this challenging audit area.
Fundamentals of a single audit
Identifying federal assistance and determining major programs
Understanding, assessing and testing internal controls
Testing compliance with laws and regulations
Audit tools and guidance
Learning Objectives: When you complete this course you will be able to:
Understand the relationship of the Single Audit Act Amendments and OMB Circular A-133.
Identify fundamental auditee and auditor responsibilities related to OMB Circular A-133 audits.
Obtain a thorough understanding of the Schedule of Expenditures of Federal Awards (SEFA).
Gain a working knowledge of how major federal programs are determined.
Be familiar with the requirements of the single audit for understanding internal controls, assessing the levels of control risk, and testing the effectiveness of the internal controls relative to federal awards.
Identify the single audit requirements for testing compliance with laws and regulations relative to major federal programs.
Identify the audit requirements for program-specific audits.
Identify the reporting requirements for program-specific audits.