Gelman, Rosenberg & Freedman, P.C. – Auditing in Compliance with Yellow Book and Single Audit
Description
Yellow Book and Single Audit reporting entities have complex and unique financial statement audit, compliance and reporting issues. Deficiencies in these types of audit engagements are common. This course will reduce the likelihood of noncompliance with relevant professional and regulatory auditing and reporting standards.
Learning Objectives
Describe the differences in the auditor’s responsibility between generally accepted auditing standards, generally accepted government auditing standards, and OMB Uniform Guidance
Explain common deficiencies in Yellow Book and Single Audit engagements
Apply best practices for designing and performing tests of internal controls and compliance with major federal programs
Discuss the special reporting requirements of Yellow Book and Single Audit engagements
Major Topics
Discover the fundamental differences in the auditor’s responsibilities between financial statement audits performed in accordance with the SASs and Yellow Book
Understand risk assessment factors above those associated with a financial statement audit only
Learn what must be done beyond the financial statement audit in order to issue required Yellow Book and Single Audit reports on internal controls and compliance
Master designing, performing and documenting effective and efficient tests of compliance requirements
Practice identifying, documenting and communicating the impact of internal control deficiencies and compliance audit findings to the client
Common peer review deficiencies
Provider
Business Learning Institute
Course Level
Basic
Professional Area of Focus
Accounting & Auditing
Government
CPE Field of Study
Auditing (Governmental)
8.0
Who Should Attend
Anyone in public accounting who wishes to learn how to increase realization on Yellow Book financial statement audits and Single Audits, without hurting quality
