The Schedule of Expenditures of Federal Awards (SEFA) (Completed)

The Schedule of Expenditures of Federal Awards (SEFA) is the key starting point of a Single Audit. The SEFA is the auditee’s responsibility. The auditor must insure the accuracy of the SEFA and report on the SEFA. This webinar will cover auditor and auditee’s responsibilities and required elements of a SEFA.

Who Should Attend
Auditors and auditees.

Topics Covered

• Elements of the SEFA
• Responsibilities of both the auditee and the auditor
• Independence standard considerations if the Auditor assists in preparation of the SEFA
• Required elements of SEFA
• Problems and pitfalls in SEFA preparation
• Ensuring accuracy of the SEFA
• Auditors reporting on the SEFA

Learning Objectives

• Recognize the auditees role in preparing SEFA
• Differentiate independence standard considerations if the Auditor assists in SEFA preparation
• Identify the required elements of the SEFA
• Recognize problems and pitfalls in SEFA preparation
• Define how to ensure accuracy of the SEFA
• Identify the role of the auditors reporting on the SEFA

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (Governmental) (2 hours)

Program Prerequisites
None

Advance Preparation
None