This interactive primer on performing single audits* provides basic background/context of single audit engagements, differentiating them from traditional financial statement audit engagements, with exercises and illustrations demonstrating the concepts in practical ways.
*We draw from OMB’s Uniform Guidance for Federal Awards published December 2014, effective for December 2015 year-end audits.
Topics include: • Single audit scope • Unique Uniform Guidance audit requirements • Federal award characteristics • Determining major programs
Learn the basics of performing compliance audits under OMB's Uniform Guidance, including the responsibilities of both the auditee and auditor. Understand how to identify federal assistance and how to determine an organization’s major programs. Identify what has changed and what stays the same under OMB's new Uniform Guidance for Federal Awards.