This Audit Risk Alert highlights areas of change in audits performed under the Uniform Guidance, focusing on areas which may be challenging or frequently misunderstood. It also discusses emerging practice issues and current developments related to entities subject to an audit performed under Government Auditing Standards and the OMB Uniform Guidance and provides information to help you identify significant risks that may affect an audit of entities receiving federal awards. In addition, this alert provides a summary of revision found in the 2018 Yellow Book.
Updates include:
- The 2018 Yellow Book
- USDA Rural Development
- Dept of Education
- Housing and Urban Development
Table of Contents
Government Auditing Standards and Single Audit Developments - 2018/19 01-149
How This Alert Helps You 01-07
Revision to Government Auditing Standards 08-31
Introduction 08-09
Format and Organization 10-11
Independence 12-15
Competence 16
Continuing Professional Education17-19
Quality Control 20-21
Peer Review 22-24
Standards for Financial Audits 25-28
Attestation Engagements and Reviews of Financial Statements 29
Performance Audits 30
Other Revisions 31
Office of Management and Budget 32-42
OMB Compliance Supplement 32-36
Uniform Guidance Procurement Requirements 37-42
Federal Agency and Other Activities 43-60
President’s Management Agenda 43-45
Federal Audit Clearinghouse 46-48
Department of Education Update 49
Housing and Urban Development Update 50-53
USDA Rural Development Update 54-58
Catalog of Federal Domestic Assistance 59-60
Uniform Guidance Considerations 61-71
Uniform Guidance Frequently Asked Questions 61
Corrective Action Plan and Summary Schedule of Prior Audit Findings 62
Government-Wide Audit Quality Study 63-71
Audit and Attest Developments 72-75
Statement on Auditing Standards No 133 72-75
Enhancing Audit Quality Initiative 76-78
Enhancing Audit Quality - Single Audit Analysis 79-86
Planning the Single Audit 83
Controls Testing in a Single Audit 84
Compliance Testing in a Single Audit 85-86
Ethics Update 87-91
Ethics - Frequently Asked Question, March 2018 87-89
Ethics Interpretation - Data Hosting90-91
Peer Review Update 92-103
Yellow Book Independence 94-97
Compliance Audits Below the Single Audit Threshold 98-100
Single Audit Documentation 101
Identifying High-Risk Type B Programs 102-103
Practice Aid - Yellow Book Independence 104
On the Horizon 105-106
AICPA GAQC 107-118
GAQC Executive Committee 113
AICPA GAQC Auditee Resource Center 114-118
AICPA Single Audit Certificate Programs 119-120
AICPA Not-for-Profit Initiatives 121-126
NFP Member Section 122
NFP Certificate Programs 123-126
Resource Central 127-149
Publications 128
Continuing Professional Education 129-130
Webcasts 131-132
Industry Conferences 133-137
Member Service Center 138-141
The Center for Plain English Accounting 142
AICPA Online Professional Library: Accounting and Auditing Literature 143
Financial Reporting Center of AICPAorg 144-145
AICPA Industry Expert Panels 146-147
Industry Websites 148-149
