Addressing Single Audit Quality In A Covid-19 Era

  • Accountant
  • CRMA
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CPA (US)
  • IAP
  • QIAL
  • CFIRS
  • CWS

Published: December, 2021

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • A Quick History
    5 mins
  • Common Findings on Single Audits
    12 mins
  • Documentation
    45 mins
  • Competence
    70 mins
  • OMB 2020 Compliance Supplement Addendum
    94 mins
  • Challenges to Single Audit Presented by COVID-19
    111 mins
  • Covid-19 Challenges - Testing
    141 mins
  • Planning and Risk Assessment
    172 mins

Course Description

In the United States, the Single Audit, Subpart F of the OMB Uniform Guidance, is a rigorous, organization-wide audit or examination of an entity that expends $750,000 or more of federal assistance (commonly known as federal funds, federal grants, or Federal awards) received for its operations. Usually performed annually, the Single Audit's objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, non-profit organizations, and Indian Tribes. The audit encompasses both financial and compliance components. 

COVID-19 has had an impact worldwide, and Single Audits are not any different.  From new government funding to Addendums to the Compliance Supplement and the added challenge of working in more remote setting, adhering to audit quality on Single Audits is more of a challenge now than ever before.  

Key topics: 

In this CPE webinar, Megan will walk through the following: 

  • The effect of the pandemic on single audits
  • The key changes and important updates from the compliance supplement addendum 
  • Address how to ensure your Single Audits are able to be both Efficient and Effective amidst the COVID-19 pandemic. 

Who should attend:

This CPE webinar is suitable for an independent certified public accountant (CPA) who are new to Single Audit or who undertake Single Audit tasks currently and want to update their knowledge and skills. 

Learning Objectives

  • To identify key considerations for conducting an effective single audit from planning to performance and through wrap up
  • To review the impacts of COVID-19 on efficiencies and effectiveness
  • To gain a familiarity with the 2020 Compliance Supplement and Addendum

Who Should Attend?

  • Auditors
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Government Contractor
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 4 CPE Credit for Certified Government Financial Manager (CGFM)
  • 4 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 4 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 4 CPE Credit of Accounting & Auditing (Govt.) for Certified Public Accountants (CPA-US)
  • 4 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 4 CE Credit for Certified Wealth Strategist (CWS)
  • 4 General Credit for Accountant/Bookeeper
  • 4 CPE Credit of Accounting & Auditing (Govt.) for Internal Audit Practitioner (IAP)
  • 4 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 4 CPE Credit of Accounting & Auditing (Govt.) for Certified Internal Auditors (CIA)
  • 4 CPE Credit for Certification in Risk Management Assurance (CRMA)

Additional details

  • Course Level :
    Basic
  • Credits :
    4
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Megan Angle

Partner, Porte Brown

Megan Angle is a Partner with Porte Brown’s not-for-profit and audit & review services teams in the Elk Grove Village office. She has more than twelve years of experience providing tax consulting, accounting, and audit services for individuals, nonprofit organizations, and closely held businesses. She co-leads Porte Brown’s Not-for-Profit team and is also an integral leader of Porte Brown’s Audit Services team. Since the pandemic hit, Angle has been heavily involved with assisting clients with the ins and outs of the Paycheck Protection Program (PPP) and related COVID-19 business stimulus programs. Megan is the Chair of the Illinois CPA Society’s Not for Profit Committee, Board President for the Tri-Town YMCA and is a board member with her local chamber of commerce among other involvements. Prior to joining Porte Brown, Angle had 4 years of industry experience working for a Not-for-Profit organization while completing her college education. As such, she brings a unique perspective to her work.  Megan lives in the Chicagoland suburbs with her husband and two children.

About Company

Porte Brown

www.portebrown.com/

Porte Brown LLC is a full-service accounting and consulting firm headquartered in the Chicago suburb of Elk Grove Village, Illinois. For more than 75 years, Porte Brown has focused on providing the highest level of service to individuals, businesses, and organizations throughout the region. In addition to the traditional accounting services such as tax planning and preparation, audit, business valuations, and retirement plan administration. Porte Brown also provides strategic consulting and leading-edge technology implementation for clients in cloud and non-cloud environments.

Faq

FAQs content

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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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