In this short video, we will learn how to support single audit findings with solid evidence and properly classify issues so that grantors can get the most use out of your audit report.
The Uniform Guidance and Yellow Book are full of instructions for creating audit findings. But the instructions do not highlight the nuances and pitfalls of developing and supporting a convincing finding.
Solid cause and effect statements are particularly elusive. And classifying the reportable condition as a fraud, as an internal control weakness, or as material non-compliance can be tricky.
Learning Objectives:
- Determine the purpose of single audit findings
- Define the required elements of a finding
- Identify qualities of a compelling effect statement
- Identify unhelpful and rude cause statements
- Sequence the three phases of editing
- Determine which elements of a finding must be supported by testing
- Distinguish between a control test and a test of compliance
- Discern the strengths and weaknesses of different types of evidence to support your findings
- Identify the qualities of a helpful recommendation
- Classify reportable conditions into types
- Identify qualities of an enticing finding title
Program level: Basic
Instructional method: Video with online qualified assessment. QAS SS
NASBA Category of Study: Auditing (Governmental)
Advance preparation: None
Prerequisites: None
Who should attend: Auditors
Recommended CPE credit: 4 hours
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