This course reviews the recently issued Uniform Guidance that superseded OMB A-133. Highlights include major administrative changes, key terms, subrecipient monitoring, minimum indirect cost rate, internal controls, compensation, and procurement impacting the auditee. Also addressed are key changes impacting auditors, including determination of major programs and auditing the schedule of expenditures of federal awards.
Upon successful completion of this course, participants will be able to:
- Identify how your willingness to change impacts quality.
- Cite how change is affecting public accounting firms.
- Identify how the Uniform Guidance will affect auditees administering federal programs.
- Cite the administrative requirements that were most impacted by Uniform Guidance.
- Cite micro-purchase, low-risk auditee determination, and Type A program thresholds under uniform guidance.
- Cite cover requirements for high-risk auditees.
- Identify information that should be presented on the face of the SEFA.
- Differentiate between the major program determination under the old OMB A-133 and the new Uniform Guidance.
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