This CPE course explains Yellow Book independence including the general requirements, requirements for auditors providing non-audit services and documentation requirements. This course also explains the basic elements of a Uniform Guidance compliance audi
DESIGNED FOR
CPAs in public practice and members in industry
BENEFITS
After attending this presentation you will be able to...
- Identity the conceptual framework for making independence determinations
- Identify independence threats related to preparing financial statements and accounting records
HIGHLIGHTS
The major topics that will be covered in this class include:
- 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
- COVID-19 changes
COURSE LEVEL
Basic
PREREQUISITES
General knowledge of Yellow Book and single audits
ADVANCE PREPARATION
None