Skip to main content

Renew your LCPA membership by May 31 for a chance to WIN! Stay connected to what counts.

Yellow Book Independence and Single Audit Fundamentals

Available Until

On Demand Only

4.00 Credits

Member Price $116.00

Non-Member Price $166.00

Overview

Description:

This CPE course explains Yellow Book independence including the general requirements, requirements for auditors providing nonaudit services and documentation requirements. This course also explains the basic elements of a Uniform Guidance compliance audit, including an overview of requirements, major program determination with examples, an understanding of compliance requirements and related internal control over compliance, sampling and single audit reporting. 

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>Learning Objectives:</strong></p>
<p>After attending this presentation you will be able to...</p><ul><li>Identity the conceptual framework for making independence determinations</li><li>Identify independence threats related to preparing financial statements and accounting records</li><li>Identify specific non-audit services that would and would not impair independence</li><li>Complete proper audit documentation to support adequate consideration of auditor independence</li><li>Identify what a single audit entails</li><li>Identify the basic audit requirements in a Uniform Guidance compliance audit</li><li>Identify key auditee and auditor responsibilities in the compliance audit of federal awards</li><li>Recognize key consideration related to the auditor's responsibilities regarding testing and reporting on compliance under the Uniform Guidance</li></ul>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>Program Content:</strong></p>
<p>The major topics that will be covered in this class include:</p><ul><li>The conceptual framework approach to independence</li><li>Independence threats related to preparing financial statements and accounting records</li><li>Consideration of specific non-audit services that would and would not impair independence</li><li>Documentation necessary to support adequate consideration of auditor consideration</li><li>Fundamentals of a compliance audit performed under the Uniform Guidance</li><li>Schedule of expenditure of federal awards</li><li>Determination of major programs</li><li>Using the Compliance Supplement&nbsp;</li><li>Uniform Guidance administrative requirements and cost principles&nbsp;</li><li>Testing internal control over compliance</li><li>Testing compliance</li><li>Writing an audit finding</li><li>Reporting requirements of a single audit</li></ul>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;">
    <strong>Who should attend:</strong>
    <span style="color:rgb(101,101,101);font-family:'Source Sans Pro', sans-serif;font-size:16px;font-style:normal;font-weight:400;letter-spacing:normal;text-align:left;text-indent:0px;text-transform:none;word-spacing:0px;white-space:normal;background-color:rgb(255,255,255);display:inline;float:none;">CPAs in public practice and members in industry</span>
</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;">
    <strong>Developed By:</strong>
    <span style="color:rgb(101,101,101);font-family:'Source Sans Pro', sans-serif;font-size:16px;font-style:normal;font-weight:400;letter-spacing:normal;text-align:left;text-indent:0px;text-transform:none;word-spacing:0px;white-space:normal;background-color:rgb(255,255,255);display:inline;float:none;">Pennsylvania Institute of CPAs</span>
</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>Instructor:</strong> Adelina Burke, CPA</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>CPE Credit: </strong>4.00</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;">
    <strong>Field of Study:</strong> Auditing (Governmental) (4.00)
</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>Prerequisites:</strong> General knowledge of Yellow Book and single audits</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>Advanced Preparation:</strong> None</p>

<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><br /></p>
<p style="margin-bottom:0in;line-height:18pt;vertical-align:baseline;"><strong>Format:</strong> QAS Self Study</p>

Highlights

  • The conceptual framework approach to independence
  • Independence threats related to preparing financial statements and accounting records
  • Consideration of specific non-audit services that would and would not impair independence
  • Documentation necessary to support adequate consideration of auditor consideration
  • Fundamentals of a compliance audit performed under the Uniform Guidance
  • Schedule of expenditure of federal awards
  • Determination of major programs
  • Using the Compliance Supplement 
  • Uniform Guidance administrative requirements and cost principles 
  • Testing internal control over compliance
  • Testing compliance
  • Writing an audit finding
  • Reporting requirements of a single audit

Prerequisites

None

Designed For

CPAs in public practice and members in industry

Objectives

  • Identity the conceptual framework for making independence determinations
  • Identify independence threats related to preparing financial statements and accounting records
  • Identify specific non-audit services that would and would not impair independence
  • Complete proper audit documentation to support adequate consideration of auditor independence
  • Identify what a single audit entails
  • Identify the basic audit requirements in a Uniform Guidance compliance audit
  • Identify key auditee and auditor responsibilities in the compliance audit of federal awards
  • Recognize key consideration related to the auditor's responsibilities regarding testing and reporting on compliance under the Uniform Guidance

Preparation

None

Non-Member Price $166.00

Member Price $116.00

Add to Cart