Courses Currently Available On Demand

Yellow Book and Single Audit engagements are considered must-select engagements for Peer Review. This course will cover the Yellow Book independence requirements which are required any time an auditor is performing a Yellow Book or Single Audit, even when the engagement is for a for-profit entity. We will also take a look at the major changes in the 2024 Compliance Supplement as well as the changes to the Uniform Guidance. Finally, we close with major deficiencies identified by the federal agencies and peer reviewers. Upon completing of this course, learners will be able to:

• Identify changes to Single Audits as a result of the 2024 Compliance Supplement
• Identify the changes to Chapter 5 of Yellow Book
• Recall the independence requirements in Yellow Book
• Recognize common Yellow Book deficiencies
• Recall the independence, CPE, and reporting requirements in Yellow Book
• Recognize changes to the Uniform Guidance
• Recall common deficiencies found in Single Audits

The Not-for-Profit Advisory Committee has been busy discussing several projects that the FASB is working on and their impact on nonprofits. In this course, we will review the key issues and discussions from recent NAC meetings. We'll also take a look at ASUs issued by the FASB that may impact nonprofit financial statements. After a break, we then transition from accounting to auditing with a look at the common deficiencies found in nonprofit Yellow Book audits with a focus on CPE, reporting, and independence. Upon completing this course, learners will be able to:

• Recall the impact of ASUs on nonprofit organizations
• Recall the activities of the Nonprofit Advisory Committee
• Identify the financial reporting impact of modification of lease contracts
• Identify common deficiencies in nonprofit accounting
• Recall the proper accounting agency transactions and functional expenses

This course will start with a review of the impact of the 2024 Compliance Supplement on Single Audits as well as the changes to the Uniform Guidance. We will also review common audit deficiencies found in Single Audits. Upon completing this course, learners will be able to:

• Identify changes to single audits as a result of the 2024 Compliance Supplement
• Recognize changes to the Uniform Guidance
• Identify the proper method of identifying and testing internal controls over compliance
• Recall common deficiencies found related to Single Audits

More and more entities need Yellow Book engagements, including a growing number of for-profit entities. In this course, we will review the unique independence requirements in GAGAS. We'll also review the recent changes to quality management in Yellow Book. We'll close with a reminder of common deficiencies found in Yellow Book engagements. Upon completing this course, learners will be able to:

• Identify the changes to Chapter 5 of Yellow Book
• Recognize common Yellow Book deficiencies
• Recall the independence, CPE, and reporting requirements in Yellow Book

Yellow Book and Single Audit engagements are considered must-select engagements for peer review. This course will review the common deficiencies noted by peer reviewers and federal agencies. We'll focus on the requirements of Yellow Book independence, CPE, and reporting. We will also review deficiencies related to internal controls over compliance, compliance testing, and major program determination for Single Audits. We'll close the course with a look at the deficiencies often identified in COVID-related funds. Upon completing this course, learners will be able to:

• Identify common deficiencies in Yellow Book Engagements
• Recall the independence requirements in Yellow Book
• Identify common single audit deficiencies
• Recall common deficiencies found related to COVID-19 funding

The Uniform Guidance identifies COSO and Green Book as best practices in internal control. This course will cover the background on COSO and its 2013 update. We'll also review the application of COSO to Green Book. Attendees will learn how to leverage Part 6 of the Compliance Supplement for documentation of internal controls. Upon completing this course, learners will be able to:

• Recall the five components of internal controls
• List the benefits of internal control frameworks
• Recognize the reasons for the COSO 2013 Update

Based on the 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. Upon completing this course, learners will be able to:

• Recognize best practices in documenting internal controls over compliance in conformity with the Uniform Guidance
• Identify differences between ICFR and ICOC

Single Audits are an area of focus for the AICPA's Enhancing Audit Quality Initiative. The Uniform Guidance provides very unique audit requirements when auditing federal funds. This course will look into the unique performance and reporting requirements in Single Audits. Participants will leave with a basic understanding of internal controls over compliance, compliance requirements, how to use the Compliance Supplement, and the elements of a finding in a Single Audit. Upon completing this course, learners will be able to:

• Recall the unique auditing requirements in the Uniform Guidance
• Recognize the requirements of major program determination
• Identify when a single audit is required

We kick off this course with a look at the GASB standards that are effective this year including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We will then switch to audit sign of the house with the changes in the 2024 Yellow Book. We'll close by examining the impact of the 2024 Compliance Supplement on Single Audits and the changes to the Uniform Guidance. Upon completing this course, learners will be able to:

• Recall the impact of GASB 100 and 101 on financial reporting for governments
• Recall the impact of GASB standards effective in 2024
• Recognize the changes to Chapter 5 of Yellow Book
• Identify changes to Single Audits as a result of the 2024 Compliance Supplement Recognize the changes to Uniform Guidance

The GASB has been working on some big projects lately. We kick off this course with a look at the GASB standards that are effective this year including GASB 100, Accounting Changes and Error Corrections and GASB 101, Compensated Absences. We will then switch gears to the GASB standards coming down the pike, including the major projects of the GASB. Upon completing this course, learners will be able to:

• Recall the impact of GASB 100 and 101 on financial reporting for governments
• Recall the impact of standards effective in 2024
• Recall major projects of the GASB
• Identify GASB standards effective after 2024