Single Audits: Planning and Risk Assessment
Free CPA AUD (Auditing & Attestation) lesson in Assessing Risk and Developing a Planned Response. 11 min read, ~1,696 words.
Single audit triggers when a non-federal entity expends $750,000 or more in federal awards in a fiscal year (Uniform Guidance, 2 CFR 200 Subpart F). Major programs selected by risk-based approach: identify Type A and Type B by size, then assess each for risk. Coverage rule: 40% of total federal...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Key Takeaways
- Exam Shortcuts
Learning objectives
- II.G4
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