Single Audit Applicability and Objectives

Описание к видео Single Audit Applicability and Objectives

This video explains when a Single Audit is required. It also provides you with the objectives of such an engagement, what the auditor is doing. Auditors follow the Uniform Guidance in performing Single Audits. Recipients also use the Uniform Guidance to ensure they are complying with Single Audit requirements. Auditors issue an opinion regarding the nonfederal entity's compliance with federal requirements. The auditor uses the Compliance Supplement issued by OMB in testing each major federal program. Direct and material compliance areas such as allowability are tested for compliance. Related internal controls are also tested.

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