Governmental and nonprofit entities that expend more than a certain amount in federal award funds annually are subject to the requirements of the Sing... morele Audit Act. This program considers the guidance in the most recent CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and its related Compliance Supplement. Performance and reporting guidance for the auditor are discussed as well as the interplay between Yellow Book audits and grants management. This course focuses on the development of in-depth knowledge, skill and application of Single Audits. This course is most appropriate for the professional with mastery of Single Audits who may be a seasoned professional within an organization but also may be appropriate for other professionals with specialized knowledge in this subject.

Governmental financial statements are quite a bit different from commercial financial statements, because each follows a different set of accounting r... moreequirements. This program will review the basic differences between commercial and governmental accounting and why these differences exist. It will emphasize the different types of funds used in governmental accounting, including why, when, and how to use each. It will also discuss the various bases and methods of accounting, along with the types of measurement focus, including any recent standards issued by the Government Accounting Standards Board (GASB). Finally, it will cover governmental financial planning and the importance of constituents' communication and feedback. This overview level course provides a general review of this topic from a broad perspective. This course is appropriate for the professional at any organizational level.

Thorough, comprehensive coverage of the topic is accentuated with easy-to-comprehend explanations of all types of government audits, including perform... moreance audits and financial audits. The most recent applicable GAO Yellow Book standards for government audits are effective for financial audits, attestation engagements, and reviews of financial statements for periods ending on or after December 15, 2025 and for performance audits for audits beginning on or after December 15, 2025. Early adoption is permitted. The 2024 revision provides enhancements that strengthen an audit organization's framework for conducting high-quality government audits through its system of quality management. The revision also changes the approach from quality control to quality management, provides a flexible approach for audit organizations that are required to use GAGAS and the quality management standards of other standard setters, promotes proactive and effective monitoring activities, provides for the optional use of engagement quality reviews, and applies guidance on key audit matters. This course is most beneficial to professionals new to GAO Standards-Yellow Book who may be at the staff or entry level in organization but also for seasoned professionals with limited exposure or those that need to be updated on the latest Yellow Book standards.

Governmental external financial reporting serves two purposes. First, these reports outline accountability for public tax dollars and the services tha... moret are funded by these resources. Second, external reporting also provides governments with the opportunity to communicate with their constituents, highlighting the results of operations, the government's financial position, and most importantly, providing a vital framework for future decisions about programs and services. This program outlines the basic governmental reporting guidelines and offers suggestions for adding value to the external communications about the government's financial position.

This update includes the requirements of the 2018 and 2021 revisions of the Yellow Book, and expanded discussion of impairments to auditor independenc... moree, particularly as they relate to nonaudit services provided to audit clients. This update provides increased emphasis on the knowledge, skills, and abilities that an auditee must possess in order for an auditor to maintain independence while providing a nonaudit service to that auditee. This update also covers the Yellow Book requirements for an audit organization's system of quality control set forth in the 2018 revision and the system of quality management set forth in the 2024 revision of the Yellow Book.

The concepts in this program are based in large part on the U.S. Office of Management and Budget (OMB) regulations. The new regulations are codified a... mores the Uniform Guidance-at 2 CFR Part 200 and are titled Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. This update covers applicable provisions of the most recent OMB Compliance Supplement in relation to internal control and compliance requirements of federal awards. That guidance adapts the provisions of COSO Internal Control - Integrated Framework to apply specifically to government programs and the government environment. This advanced level course focuses on the development and expansion of in-depth knowledge, skill, and application of this topic.

This course details the use and implementation of the Single Audit from the proposal and planning stages through risk assessment and compliance. Repor... moreting and review requirements are also discussed. The Uniform Guidance, which tailors regulations to impose less of a burden and eliminate unnecessary and reforming requirements that are overly burdensome, is presented. This intermediate level course is most appropriate for the professional with detailed knowledge in this topic or the professional seeking to expand his or her knowledge base and who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.

Government includes a wide range of entities like municipalities, counties, special districts as well as subordinate agencies all with specific charac... moreteristics, regulations and requirements unique to governments. They provide services such as education, police and fire protection, court systems, transportation, water supply and other utilities, streets and highways, parks, libraries, etc. Accounting for the transactions of governmental entities is based on funds. These funds have a separate set of accounting and function independently. Any entity that meets the definition of a government must follow GASB pronouncements for accounting reporting. This basic governmental accounting course is appropriate for the professional new to government and fund accounting or the seasoned professional who wants to ensure they are current on regulations that pertain to governmental accounting in accordance with GASB.

Lee Ann Watters discusses strategies a client can use to help their auditor get in and out faster. She will begin by discussing the planning portion o... moref the audit, which will involve alerting the auditor to any new, significant transactions, such as debt acquisition or extinguishment, any major asset acquisitions or disposals, or any contingencies they may be dealing with. Lee Ann also discusses the importance of properly scheduling key employee time around the auditor's field visit. Key employees should not be on PTO or away at training during the auditor's fieldwork, as they must be present and available to tend to auditor requests and questions. Lee Ann will also examine the client assistance list, and how it benefits the efficiency of both the client and the auditor to have this completed before the auditor arrives on-site.

This course provides an overview of the responsibilities of management, those charged with governance, and employees of an organization for implementi... moreng and evaluating internal control. It discusses the definition, objectives, components, and principles of internal control. It also discusses the limitations of internal control. The second chapter of this course discusses the auditor's responsibilities for internal control in a financial statement audit conducted in accordance with generally accepted auditing standards (GAAS) of the AICPA. The final chapter presents the conditions of receiving a federal award and how governmental and nonprofit entities comply with the provisions of relevant laws, regulations, and the terms and conditions of the award, and to maintain a system of internal control to provide reasonable assurance of compliance with these requirements. The same or similar requirements generally apply to entities that receive state and local awards of governmental funds. This course is most beneficial to professionals new to internal control and fraud in governmental and nonprofit entities who may be at the staff or entry level in an organization but also for a seasoned professional with limited exposure to this subject.