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CPE for Government Auditors

What You Need to Know to Audit Government Programs

Audits of governmental programs require special knowledge of federal requirements and criteria including the Uniform Guidance and the GAO’s Yellow and Green Books.  In this seminar, we will cover the essentials that you need to know to perform an audit of federal grants including the Single Audit requirements and the GAO’s Generally Accepted Auditing Standards.  We will also discuss the purpose and use of the GAO’s Standards for Internal Control in the Federal Government and significant reporting requirements. We will highlight the differences between OMB Circular A-133 and the new Uniform Grant Guidance as well as the differences between a financial audit and a Single Audit.  Key acronyms and terminology are explained in plain English.

 

Objectives:

  • Identify the significant differences between a commercial financial audit and a Single Audit
  • Identify the three subjects of a single audit
  • Compare the requirements of the AICPA, the GAO, and the Uniform Grant Guidance
  • Identify major changes between OMB Circular A-133 and the audit requirements from the Uniform Grant Guidance
  • Evaluate controls using the COSO model and Standards for Internal Control in the Federal Government
  • Distinguish between fraud, abuse, and noncompliance
  • Order the levels of materiality on a Single Audit
  • Select the standards that apply to your engagement & differentiate between types of engagements.
  • Define requirements for peer review and quality control
  • Apply the new 2011 independence standards to your team
  • Create findings using the five elements of a finding
  • Identify requirements for continuing professional education
  • Generate concise and logical findings in an hour or less
  • Choose the strongest content for your finding

 

Who should attend: Auditors and monitors of governmental funds and programs who need to understand how to applyYellow Book standards to their work.

Program level: Intermediate

Prerequisites: No prerequisites or advance preparation required

Delivery method: Group live instruction

Recommended CPE credit: 8 hours of NASBA-qualified hours that counts toward the 24 hour Yellowbook CPE requirements

NASBA Category of Study: Auditing (Governmental)

 

IIA vs. GAO Standards

Internal auditors working in government are orange… the orange that comes from implementing both IIA and GAO standards. In this course, we will walk through the essentials of both sets of standards – the GAO’s yellow book (or Government Auditing Standards) and the IIA’s red book (The International Professional Practices Framework).

Special emphasis will be placed on sections where the GAO standards and IIA standards conflict. The latest versions of both standards will be provided to all participants. You are also welcome to bring and share you audit reports, planning documentation, and internal audit charter to compare to the standards.

A case study will be used to illustrate the more difficult aspects of an audit engagement as we reference the guidance that the GAO and IIA provide.

Learning objectives include:

  • Describe core requirements of the IIA and GAO standards including
    – Assurance and consulting definitions
    – Risk assessment and planning
    – Auditor Independence
    – Documentation
    – Reporting and follow up
    – Quality control and peer review
  • Resolve key differences between the standards
  • Refer confidently to the standards noting structural differences between the two standards
  • Apply the planning requirements to a mock subject matter
  • Outline a report that follows the standards
  • Verify that your audit charter meets IIA standards

Program level: Intermediate

Instructional method: Group live instruction

Prerequisites: More than one year of audit experience

Who should attend: Auditors complying with either the Red Book or the Yellow Book or both.

Recommended CPE credit: 16 hours

Yellow Book Standards 2011

WHAT PEOPLE SAY ABOUT THIS SEMINAR

“It’s been a most entertaining and valuable learning experience and we thank you for making dry audit standards and principles so alive! “
- V.I. IG Auditor, November 2012

“Thanks very much for the great class today. I found it interesting, informative and a lot of fun!!

As someone new to auditing, not to mention government auditing, I was aware that I needed to have a much better understanding of the Yellow Book, and I feel that today was a perfect overview of how the audit process of the Yellow Book works and should work. The instructions, Q&A, and exercises, as well as the asides and personal stories, helped reinforce the core content. Overall a great day of learning for me that will help directly with my OSA duties and responsibilities. “
- Gene B. Assistant State Auditor, July 2017

The GAO’s Yellow Book standards set a high bar for auditors of government programs.  The 2011 revision significantly alters the auditor independence standard.  The Yellow Book standards encompass performance audits, financial audits, and attestation engagements.

Major Topics:

  • Audit plans
  • Evidence
  • Continuing professional education
  • Professional conduct and judgment
  • Reportable conditions including abuse
  • Documentation
  • Reporting
  • Independence

Learning Objectives:

  • Select the standards that apply to your engagement
  • Define requirements for peer review and quality control
  • Apply the 2011 independence standards to your team
  • Use the elements of a finding to flesh out an audit issue
  • Label reportable conditions as abuse, fraud, non-compliance, & an internal control weakness
  • Differentiate between types of audits

 

Program level: Intermediate

Instructional method: Group live instruction

NASBA Category of Study: Auditing (Governmental)

Advance preparation: None

Who should attend: Auditors and monitors of governmental funds and programs who need to understand how to apply Yellow Book standards to their work.

Recommended CPE credit: 8 hours of NASBA qualified hours that counts toward the 24 hour Yellowbook CPE requirements.

Governmental Auditing Skills Workshop (A New and Exciting Way to Learn the Yellow Book)

Without an understanding of the governmental auditing environment, a new auditor could easily spend valuable audit hours doing the wrong thing or missing important requirements. In this course, we will review the steps involved in conducting a governmental performance audit under GAGAS standards and concentrate on the steps critical to the success of a governmental audit.

Objectives:

  • Describe yellow book (GAGAS) performance audit requirements
  • Breakdown the steps in the governmental auditing process
  • Explain the planning standards and how to comply
  • Illustrate the fieldwork and working papers standards and how to comply
  • Apply the reporting standards to example reports and scenarios

Who should attend: Auditors and monitors of governmental funds and programs who need to understand how to apply governmental auditing standards to their work and recipients of governmental funds who undergo auditing or monitoring from an oversight or granting agency.

Program level: Intermediate

Prerequisites: Yellow Book Auditing Standards course or equivalent

Delivery method: Group live

Recommended CPE credit: 16 hours

Auditing for Fraud in the Government Environment

WHAT PEOPLE SAY ABOUT THIS SEMINAR

“Leita was extremely knowledgeable of the subject matter. She also had was of simplifying the concepts to their base elements. This method made it very easy to grasp the concepts that were presented. For and introductory course, I find that clarity and simplicity key.”
- March 2013

“Course met the objectives of the class and provided a clear presentation of the materials. Overall, it was a very educational class.”
- March 2013

“It was an GREAT course with a GREAT Instructor.”
- March 2013

“She was a fabulous instructor. She kept the course material relevant and entertaining at the same time. She did an excellent job of teaching appropriate material while intertwining interesting stories. She was very polite to all of the students and welcomed everyone’s input and questions.”
- March 2013

“The instructor was knowledgeable on the subject and presented the material in an interesting fashion. I learned a lot from this instructor.”
- March 2013

“Leita made a dry subject interesting and imparted a great deal of information.”
- March 2013

The Yellow Book places responsibility on auditors to design their audit to detect fraud. But what does fraud look like? What techniques can you use to find it? And how does it rear its ugly head in the government environment?

In this course, we will discuss the taxonomy of fraud as well as how to do your best to uncover it and document your work.

Objectives:

  • Apply Yellow Book and GAAS requirements regarding fraud to your engagement
  • Distinguish between fraud, abuse, and non-compliance
  • Explain what to look for– using the CFE’s fraud tree and fraud triangle
  • Apply fraud risk assessment techniques
  • Design resulting audit methodologies

Who should attend: Auditors conducting audits under GAO’s Yellow Book Auditing Standards

Program level: Basic

Prerequisites: No prerequisites or advance preparation required

Delivery method: Group live

Recommended CPE credit: 8 hours

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