Single Audit engagements continue to be challenging as the Federal pandemic funding has flowed throughout the past few years and while infrastructure funding begins to be awarded. Proposed updates to the Uniform Guidance commenced by the Office of Management and Budget are additional proof that the Single Audit is a dynamic area. Come learn what you need to know as you plan to perform your upcoming Single Audit engagements. For auditees, come learn about the Single Audit and what will be the focus of your auditors.
Who Should Attend
Auditors performing Single Audits subject to the Uniform Guidance. Auditees subject to Single Audits.
Topics Covered
- Uniform Guidance – Subpart F
- 2024 OMB Compliance Supplement
- Highlights on new Federal funding
- Proposed (or Final) Updates to the Uniform Guidance
Learning Objectives
- Be aware of key concepts and changes included in the 2024 OMB Compliance Supplement
- Understand the impact of Federal pandemic and infrastructure funding on Single Audits
- Learn highlights about proposed (or final) changes to the Uniform Guidance
- Identify how changes in the OMB Single Audit guidance to auditors will impact you as the auditee
Level
Intermediate
Instructional Method
Group: Internet-based
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
Prior experience with Single Audits
Advance Preparation
None
Instructors
Clark Nuber
Located in the Seattle metro area, Clark Nuber PS is home to one of the largest single-office Not-for-Profit practices in the United States. This nationally recognized group is composed of over 80 professionals who specialize in serving more than 750 not-for-profits. These professionals take a broad, holistic view of the entire financial and regulatory ecosystem in which not-for-profits function.
Our involvement and investment in the industry extends beyond providing professional services to charitable organizations. Our shareholders and principals also present regularly at conferences and seminars tailored to the not-for-profit community. And, several leaders serve on national-level boards and committees that establish guidance and best-practices for the sector, including the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee, the TE/GE EO Council’s TIC-TAQ Forum, and the AICPA Exempt Organization Technical Resource Panel.
Additionally, Clark Nuber is the author of the Form 990 Compliance Guide and the Private Foundation Handbook and Compliance Guide.
Troy Rector
Troy Rector is a shareholder in the Not For Profit and Governmental Services Group at Clark Nuber and has spent his career serving tax exempt organizations who receive Federal grant and contract assistance. He works with a range of community-based organizations including low income housing, healthcare, social service and many more. Troy regularly advises and presents on Uniform Guidance related topics. He is the chair of the Washington Society of CPA's Governmental Audit & Accounting Committee, a member of the AICPA's Government Audit Quality Center's Executive Committee and Past Chair of a local school district foundation.
Kelly Rancourt
Kelly Rancourt, CPA is a principal in Clark Nuber's Audit and Assurance Services Group. Kelly has over 13 years of experience performing audits for not-for-profit and healthcare organizations. In addition, she also performs federal compliance audits and consults on federal compliance matters. She is a co-author of the annual Knowledge Based Audits of Health Care Entities published by CCH, a Wolters Kluwer Company. She is a member of the American Institute of CPAs (AICPA), the Healthcare Financial Management Association (HFMA), the Thompson Grants Editorial Advisory Board, and the Washington Society of Certified Public Accountants (WSCPA), where she is the past Co-Chair of the WSCPA Not-for-Profit and Healthcare Conference Planning Committee.