Single Audit engagements continue to be challenging as the Federal pandemic funding has flowed throughout the past year. Proposed updates to the Yellow Book and a Uniform Guidance update process 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 what will be the focus of your auditors.
Publication Date: June 2023
Designed For
Auditors performing single audits subject to the Uniform Guidance.
Auditees subject to single audits.
Topics Covered
- Single Audit Data — What the #'s Tell Us
- Federal Program Developments
- 2023 OMB Compliance Supplement
- Single Audit Updates and Reminders
- Single Audit Quality
Learning Objectives
- Describe key concepts included in the 2023 OMB Compliance Supplement
- Identify the continued impact of Federal pandemic funding on Single Audits
- List proposed changes to the Yellow Book and where the OMB is at in updating the Uniform Guidance
Level
Intermediate
Instructional Method
Self-Study
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.