A Single Audit necessitates sampling for both internal controls and compliance testing. We will look at the steps in the sampling process as well as determine the correct sample size in a single audit.
Publication Date: February 2022
Designed For
null
Topics Covered
- Uniform Guidance - Overview
- Sampling In a Uniform Guidance Compliance Audit
- Sample Worksheet - Internal Control Documentation
- Sample Worksheet - Compliance Documentation
Learning Objectives
- Recognize the difference between financial statement testing and compliance testing
- Recognize the difference between sampling internal controls over compliance and sampling for substantive test of compliance
- Recognize the different sampling tables in the Audit Guide and how to use them
- Identify the steps in the sampling process
- Describe the required documentation in a sampling test
- Identify the subpart of the Uniform Guidance that relates to cost principles
- Recognize what is not one of the accepted compliance testing approaches
- Identify the sample size for populations >250 when there is moderately significant and limited inherent risk
- Identify the minimum sample size for populations
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Diane Edelstein
Diane E. Edelstein is a Senior Partner at Maher Duessel in Pittsburgh, PA and has over thirty years of experience in public accounting. Her entire auditing career has been of non-profits, governments and Single Audit.
Diane speaks throughout the country on Non-profit accounting and auditing and Single Audit. She was member of the AICPA NPO Planning Conference Committee from 2012 – 2017 and continued to speak at the annual conference through 2019.
Diane currently serves on the AICPA Peer Review Board – GCA PMTF (Government and Compliance Audits Practice Monitoring Task Force) and is a past member of the PICPA Professional Ethics Committee and the PICPA Peer Review Committee.