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Loscalzo's Frequently Missed Issues for OMB Circular A-133 Audits
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| Date |
November 15, 2010
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| Location | Embassy Suites, LaVista, NE |
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| Course Time |
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8:30 a.m. to 4:30 p.m. |
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Peer reviews and AICPA Professional Ethics Division Investigations have found that substandard A-133 audits are prevalent. Now the AICPA and government bodies are addressing issues with changes in professional literature. This course addresses the new SAS No. 117 on Compliance Auditing that addresses many of them and changes in recordkeeping, internal control and reporting for entities expending funds awarded under the American Recovery and Reinvestment Act (ARRA). With nearly $3 billion awarded since 2009, these requirements will affect many organizations. The course will also address how the changes impact audit procedures to be performed and the impact that SAS No. 115 will have on the report on internal control over financial reporting and internal control over compliance and the AICPA's new practice aids on internal control and the Schedule of Federal Awards (SEFA). This course will help avoid recurring common failures in audits under Government Auditing Standards and OMB Circular A-133 and provide the latest 2007 Yellow Book changes, as well as changes to the reports on internal controls over financial reporting (GAS) and internal control over compliance (A-133).
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| Course Highlights & Objectives |
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Subjects include: documentation, multipurpose testing, design of compliance and internal control tests, sampling applications, reporting findings, consideration of abuse, documentation and testing of all five elements of internal control, lack of segregation of duties, schedule of federal awards and identifying major programs.
Identify areas for improvements in Government Auditing Standards (GAS) and OMB Circular A-133 audits and implement changes to audits as a result of AICPA risk assessment and documentation standards. |
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| Who Should Attend |
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| Accountants in not-for-profit (NFP) or government organizations that need a compliance audit or audit practitioners working on NFP and/or public sector clients who need audits performed in accordance with the Yellow Book and OMB Circular A-133. |
| Course Level | Intermediate |
| Prerequisites | Assumed knowledge of NFP and governmental accounting and reporting, Yellow Book & OMB Circular A-133. |
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| Discussion Leader | James E. Woy, Loscalzo Associates, Ltd. |
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| Additional Information: |
Parking is available on site and lunch is provided. Eligible for Yellow Book Credit. |
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| Fee |
$230 - Society Member
$260 - Society Nonmember |
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