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AICPA & CIMA 2022 Governmental Accounting & Auditing Online Update

GAE2218 - Auditing the Coronavirus State and Local Fiscal Recovery Funds (SLFRF)


Aug 16, 2022 11:35am ‐ Aug 16, 2022 12:50pm


Description

Many auditors will have to audit the Coronavirus State and Local Fiscal Recovery Funds Program for the first time in 2022.

The $350 billion program is one of the largest federal programs subject to single audit ever, with over 30,000 recipients.

Although funding went primarily to states, local government, and tribal entities, those recipients could potentially pass the funding down to not-for-profits or even for-profit entities.

Adding to the challenge is that many small local government recipients of this funding have not had to undergo an audit of federal financial assistance in the past.

This session is intended to help auditors having to address this program in their single audits.

Learning Objectives:
  • Identify how the Coronavirus State and Local Fiscal Recovery Funds Program affects single audits.
  • Analyze auditor considerations and challenges and take appropriate action.
  • Use best practice tips and resources to achieve a quality single audit.

Speaker(s):

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