Applying OMB Circular A-133 to Not-for-Profit and Governmental
Does OMB Circular A-133 have you running in circles? This
course provides you with the knowledge to be more efficient and effective at
planning and performing audits in accordance with the requirements of OMB
Circular A-133 and the Single Audit Act Amendments. Make sure your skills are
up-to-date with the latest information and find out what changes are planned
for this challenging audit area.
• Fundamentals of a single audit
• Identifying federal assistance and determining major
• Understanding, assessing and testing internal controls
• Testing compliance with laws and regulations
• Audit reports
• Program-specific audits
• Audit tools and guidance
• Latest developments
When you complete this course you will be able to:
• Understand the relationship of the Single Audit Act
Amendments and OMB Circular A-133.
• Identify fundamental auditee and auditor responsibilities
related to OMB Circular A-133 audits.
• Obtain a thorough understanding of the Schedule of
Expenditures of Federal Awards (SEFA).
• Gain a working knowledge of how major federal programs are
• Be familiar with the requirements of the single audit for
understanding internal controls, assessing the levels of control risk, and
testing the effectiveness of the internal controls relative to federal awards.
• Identify the single audit requirements for testing
compliance with laws and regulations relative to major federal programs.
• Identify the audit requirements for program-specific
• Identify the reporting requirements for program-specific
Requisite Knowledge: Background of not-for-profit or governmental accounting and auditing
Advanced Preparation: None
Speaker: Diane Edelstein, CPA
Field of Study: Auditing Governmental
CPE Credits: 8
Yellow Book: Yes