|Available Formats:||Text | On-Demand | See All|
This core training explains the basic elements of an OMB Circular A-133 compliance audit, including who must undergo this type of audit and why. It provides an overview of the requirements of a compliance audit performed under OMB Circular A-133, and how GAAS and the Yellow Book are related to the Circular A-133 compliance audit.
Topics discussed in this course include information on what a federal award is along with an explanation of the various types of federal awards. Audit implications of receiving a federal award as a recipient or as a subrecipient, and the related requirements, are covered. The Schedule of Expenditures of Federal Awards is introduced, along with a description of major program determination. The determination by the auditor of compliance requirements to be tested is discussed, along with the auditor’s responsibilities related to testing and reporting on both internal control over compliance and compliance with the applicable compliance requirements. With the information in this course, you will understand the basic components of a compliance audit performed under OMB Circular A-133.
When you complete this course, you will be able to:
Who Will Benefit?
Audit staff new to the OMB Circular A-133 compliance audit process and those who need a refresher of key elements of a compliance audit.
Advanced Preparation: None