Single Audit Pandemic Aid And Major Program Determinations

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

Published: December, 2021

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • what is the Single Audit Act of 1996?
    5 mins
  • why is it called "single" Audit Act of 1996?
    19 mins
  • What is a single audit?
    24 mins
  • what is a risk assessment?
    40 mins
  • Consequences of Unsuccessful audit
    51 mins
  • Pandemic extensions
    77 mins

Course Description

The Federal government relies on the opinion of an independent outside auditor to make their economic decisions to invest/lend taxpayer money. The new Uniform Guidance changes the audit requirements for single audits along with more complex compliance control and testing needs.

Auditors have a duty to express their view as to whether the beneficiaries of the program comply with the requirements of the program.

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 received for its operations.

The following Major Topics are covered in this specialized Auditing webinar

  • Effective dates of the Uniform Guidance.
  • Scope of a Single Audit.
  • Revised requirements of the Schedule of Expenditures of Federal Awards.
  • Guidelines for auditors to choose major programs to review.
  • High-risk vs. low-risk determination.
  • Changes to the major program risk assessment criteria.
  • Testing internal controls over compliance.
  • Details of Office of Management and Budget (OMB)’s Compliance Supplement.
  • Slight revisions of Auditor report language.
  • Older awards vs. newer awards control requirements.

Learning Objectives

  • To explore the reasons for strict controls on audit procedures.
  • To identify this risk laden area for compliance under the Uniform Guidance.
  • To review the Single Audit Act updates.
  • To examine control system and legal compliance audit items.
  • Reporting - audit opinion preparation best practices
  • To explore disclosure requirements.

Recommended For

This Online CPE webinar is for CIA, CPA, and Audit professionals who are servicing or aspire to service the needs of nonprofits and state & local governments subject to single audits

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Auditors
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

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

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • 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

Michel Morley

Founder, Mike Morley

Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.

An entertaining and informative speaker and trainer, Mike is the author of:

“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.

 “Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.

“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
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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.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

3.5

11 Ratings

Excellent

1

Very Good

4

Average

5

Poor

1

Terrible

0

GC

Gina Cabral, CPA (US)

Jul 17th, 2022

Good overview

RC

Renee Cross, CPA (US)

Apr 30th, 2022

speaker talked too slow and needed to provide a lot more examples

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