Reporting in a Single Audit (Completed)
Date: Wednesday, December 7, 2022
Instructor: Diane Edelstein
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs |
|
The final step in the Single Audit is the reporting of the results. We will look at what is required to be reported by the auditors as a finding in the "Report on Compliance for Each Major Federal Program and Report on Internal Control Over Compliance Required by the Uniform Guidance" and what are the elements of the Schedule of Findings and Questioned Costs. We will look at the auditee requirement to complete a” Summary Schedule of Prior Audit Findings” and a “Corrective Action Plan” (CAP)
Who Should Attend
This session is for both auditees and auditors.
Topics Covered
- The life cycle of a finding
- What is required to be reported in the Schedule of Findings and Questioned Costs
- Required elements of a finding
- Auditee requirement to complete a Summary Schedule of Prior Audit Findings and a Corrective Action Plan
Learning Objectives
- Recognize what is required to be reported as a finding
- Identify the elements of a Schedule of Findings and Questioned Costs
- Identify the required elements of a Finding
- Recognize the client documents (Summary Schedule of Prior Audit Findings and the Corrective Action Plan)
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
