Overview
Based on an AICPA Enhancing Audit Quality study, 23% of all single audits subject to enhanced oversight were materially non-conforming with professional standards due to failure to properly test controls over compliance.
This course will provide an overview of internal controls over compliance specifically related to Single Audits. We will discuss how to apply the concept of internal controls to various compliance requirements. Additionally, a common finding in the audits of governmental entities receiving federal grants is misidentifying controls and mistaking compliance for a control. That's why this course will also focus on identifying compliance versus controls over compliance.
Prerequisites
Prior experience with Single Audits
Objectives
- Properly document internal controls over compliance in conformity with the Uniform Guidance
- Compare ICFR with ICOC
Highlights
- Internal Controls Over Compliance
- Compliance
- Single Audits
