Single Audit Primer

(Updated - December 2011)

Single audits are different. The federal government demands a lot of a grantee and their auditor. In this course, we will cover the audit requirements that exceed AICPA standards in the GAO’s Yellow Book and A-133.  

Key acronyms and terminology are explained in plain English.  

Objectives:

• Identify the significant differences between a commercial financial audit and a Single Audit
• Understand the differences between important standard setting bodies
• Identify the three subjects of a single audit
• Compare the requirements of the AICPA, the GAO, and OMB Circular A-133
• Understand the significant requirements of the Yellow Book
• Distinguish between fraud, abuse, and noncompliance
• Sequence the levels of materiality on a Single Audit

Program level: Intermediate

80 pages of text

NASBA Category of Study: Auditing (Governmental), Accounting (Governmental)

Who should attend: Auditors conducting audits of federal grants and programs.

Advance preparation: None

Instructional method: Self-study text with online quiz

CPE Credit Hours: 4

This course qualifies for Yellow Book CPE credit. Updated December 2011.