Key reporting issues
Using a matrix, gain clarity on the three levels of reporting requirements for a single audit: GAAS, Government Auditing Standards, and the Uniform Guidance. Understand how these standards and requirements expand the level of auditor responsibility from reporting on an auditee’s financial statements to also reporting on internal control and on compliance. Learn about advanced topics that require particular attention.
Schedule of findings
Learn how to prepare a schedule of findings and questioned costs that includes the following three components:
- A summary of the auditor’s results
- Findings relating to the financial statements that are required to be reported in accordance with Government Auditing Standards
- Findings and questioned costs for federal awards Understand your reporting requirements and other communication considerations in a compliance audit performed in accordance with the Uniform Guidance.
Put into practice
Use case studies to put the guidance into practice by identifying the appropriate report wording under the new suite of auditing standards.
Who Will Benefit
Auditors responsible for planning, directing, and reporting on single audits
Key Topics
- The reports required to be issued in a single audit.
- The requirements related to preparing a schedule of findings and questioned costs.
- Advanced audit reporting issues.
Learning Outcomes
Interpret and evaluate the reporting requirements of a single audit.