Single Audit Fundamentals Part 1: What is a Single Audit?

Topics Discussed:

• Background and overview of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards at 2 CFR 200 (UG or Uniform Guidance)
• Scope of the single audit
• Auditee and auditor responsibilities
• Federal agency responsibilities
• Single audit overview
• Description and characteristics of federal awards
• Pass-through awards and sub-recipients
• Overview and use of the AICPA GAS-SA Guide

Learning Objectives:

• Identify the scope of the Single Audit and the OMB Uniform guidance
• Identify fundamental auditee and auditor responsibilities found in the Uniform guidance
• Identify the characteristics of federal awards

Designed For: 

Auditors of nonprofits and state and local governments subject to single audit

Level: Basic

Instructor: : Lindsey Oakley

Developer: AICPA

CPE Credits: 2

Area of Study: Auditing Governmental 2                                                                     

Prerequisite: none