2015 will be a very unusual year in the world of single auditing. Many engagements performed during 2015 will be performed in accordance with OMB Circular A-133. However, single audits for December 31, 2015 year ends will be performed in accordance with the new single audit requirements (i.e., the OMBs Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards). The new single audit requirements will result in the biggest changes to the single audit process since 1997! This is an essential course for auditors performing single audits in 2015 as it will equip you with the knowledge needed to perform audits under both OMB Circular A-133 and the new single audit requirements.
The relationship between the Single Audit Act, OMB Circular A-133, and the OMB’s Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
Performing single audits under both OMB Circular A-133 and the new single audit requirements
Key changes that the new single audit requirements will bring to the audit process [e.g., changes in: (1) the single audit threshold; (2) the major program determination process; (3) the low-risk auditee criteria; (4) the reporting of findings in the schedule of findings and questioned costs; (5) the SEFA; (6) the report submission process; and (7) more]
Stay current in the complex and changing single audit environment
Save time on single audit engagements via enhanced knowledge of both the OMB A-133 requirements and the new single audit requirements
Excel in the single auditing arena
Designed For: Auditors performing single audits Level of Knowledge: Intermediate Prerequisite: Basic single audit knowledge Advanced Preparation: None Credits: 8 Field of Study: Auditing (Governmental)(8) CFP Credit: No