Uniform Guidance for Single Audits

Free CPA AUD (Auditing & Attestation) lesson in Performing Further Procedures and Obtaining Evidence. 13 min read, ~1,887 words.

Threshold: \$750,000 or more in federal awards expended in the fiscal year (2 CFR 200.501). Major programs: four-step risk-based approach, Type A vs Type B, low-risk Type A test, high-risk Type B, percentage-of-coverage (40% normal, 20% low-risk auditee). Compliance audit: tests the 12 compliance requirements in the OMB Compliance Supplement...

What this lesson covers

• Content
• Example 1
• Common Mistakes
• Key Takeaways
• Exam Shortcuts

Learning objectives

• III.E6

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