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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)

 

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