Reporting in a Single Audit (Currently Unavailable)

Author: Diane Edelstein

CPE Credit:  2 hours for CPAs

So you finished all your audit testing now what? Do all exceptions in your testing become findings? Do all findings affect my report? We will look at what the Uniform Guidance says must be on the Schedule of Findings and Questioned Cost (SFQC). We will then look at the reports and ensure they tie properly to the SFQC. We will wrap up with the Corrective Action Plan and Summary Schedule of Prior Audit Findings which are client responsibilities.

Publication Date: December 2019

Topics Covered

  • What is required to be reported
  • How and when to report a Questioned Cost
  • The Schedule of Findings and Questioned Costs (SFQC)
  • How to write a report that matches your findings in the SFQC
  • Corrective Action Plans
  • Summery Schedule of Prior Audit Findings

Learning Objectives

  • Recognize what is required to be reported
  • Identify how and when to report a Questioned Cost
  • Describe how to write a report that matches your findings in the SFQC
  • Describe false statements regarding the Summary of Prior Audit Findings
  • Differentiate which type of auditor report issued for Schedule of Findings and Questioned Cost
  • Identify the lifespan of an audit finding
  • Recognize which reporting package component is required by the auditee
  • Describe the Data Collection Form (DCF)

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Auditing (Governmental) (2 hours)

Program Prerequisites
None

Advance Preparation
None

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