Part 1: What is a Single Audit? A Basic Background and Overview (bold)
In this webcast we will provide background and context of a single audit engagement and help participants differentiate these engagements from traditional financial statement audit engagements.
Topics included in part 1:
• Background and overview of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards at 2 CFR 200 (UG or Uniform Guidance)
• Scope of the single audit
• Auditee and auditor responsibilities
• Federal agency responsibilities
• Single audit overview
• Description and characteristics of federal awards
• Pass-through awards and subrecipients
• Overview and use of the AICPA GAS-SA Guide
Identify the scope of the single audit and the OMB Uniform guidance
Introduction to single audits
Auditors of nonprofits and state and local governments subject to single audit
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