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The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role on an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Governmental Auditing Standards - Yellow Book Series (12 Hrs)
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Suggested Courses

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role on an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Governmental Auditing Standards - Yellow Book Series (12 Hrs)
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Similar Courses

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role on an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Governmental Auditing Standards - Yellow Book Series (12 Hrs)
Suggested Courses

The Generally Accepted Governmental Auditing Standards, also known as the Yellow Book, provides a comprehensive framework for conducting governmental audits with a focus on high quality, integrity, competence, independence, and objectivity. The Yellow Book is used by auditors of government organizations, entities that receive government awards, and any other audit organization performing Yellow Book audits. The Yellow Book outlines all requirements for governmental audit reports, professional qualifications for auditors, and audit organization quality control.

This course will describe when the Yellow Book standards must be applied. This course will identify the types of auditors and audit organizations that may employ GAGAS to conduct their work. This course will identify the categories of requirements that GAGAS uses to describe the degree of responsibility imposed on auditors and audit organizations. This course will identify the ethical principles that guide the work of auditors who conduct engagements in accordance with GAGAS. This course will identify the individuals that have a role on an audit engagement. This course will Recognize the methods for selecting individuals of integrity who have the capacity to develop the competence and capabilities necessary to perform the audit organization’s work competently. This course will identify the requirements for auditor communication. This course will identify the three levels of service as identified by the AICPA. This course will identify the general planning requirements for an audit that must comply with all of the applicable requirements for a review of financial statements conducted in accordance with GAGAS. Finally, this course will describe what must be included and what must be excluded from an audit report.

Governmental Auditing Standards - Yellow Book Series (12 Hrs)
Course Details

OMB Uniform Guidance Admin Rules (Course Id 2305)

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Author : Sefton Boyars, CPA (Ret.), CGFM (Ret.), Author
Course Length : Pages: 111 ||| Word Count: 48,665 ||| Review Questions: 34 ||| Final Exam Questions: 40
CPE Credits : 8.0
IRS Credits : 0
Price : $71.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry
Technical Designation: Technical
Primary Subject-Field Of Study:

Auditing (Governmental) - Auditing (Governmental) for Course Id 2305

Description :

The administrative rules in the Uniform Guidance for federal grants cover a lot of ground. Let Sefton Boyars and Bill Allen guide you through these requirements for managing grants from the grantee, the grantor, and the auditor perspective. Sefton and Bill will provide you with hard-earned insights into the trickier, unexpected clauses that could hang you up.

This course covers the latest administrative rules published in the OMB Uniform Guidance Admin Rules in Title 2: Part 200 of the Code of Federal Regulations (also known as: Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards)

Usage Rank : 23333
Release : 2024
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 13-Jun-2024
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - 2305

Keywords : Auditing (Governmental), OMB, Uniform, Guidance, Admin, Rules, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

Course objectives include:
  • Describe the regulations underlying the uniform administrative requirements applicable to state and local governments and nonprofits
  • Identify key government regulators and their related acronyms
  • Differentiate among the four layers of regulations regarding federal award administration
  • Define terms used in the uniform administrative requirements
  • Identify the pre-federal award requirements in 2 CFR 200
  • Identify the contents of federal awards as set out in 2 CFR 200
  • Describe the post federal award requirements regarding property standards
  • Examine the post federal award requirements regarding procurement standards
  • Identify the requirements regarding performance and financial monitoring and reporting
  • Differentiate among the rules related to recipient record retention and access
  • Contrast the characteristics of a subgrantee with those of a contractor for the purposes of subrecipient monitoring and management
  • Identify remedies for noncompliance
  • Determine when an award may be closed out and what is affected by the award closeout

Chapter 1
General Principles & Basic Premises

  • Describe the regulations underlying the uniform administrative requirements applicable to state and local governments and nonprofits
  • Identify key government regulators and their related acronyms
  • Differentiate among the four layers of regulations regarding federal award administration

Chapter 2
Acronyms & Definitions Used in the Uniform Administrative Requirements

  • Define terms used in the uniform administrative requirements

Chapter 3
Subpart B - General Provisions

  • Identify the General Provisions in 2 CFR 200

Chapter 4
Subpart C - Pre-Federal Award Requirements & Contents of Federal Awards

  • Identify the pre-federal award requirements in 2 CFR 200
  • Identify the contents of federal awards as set out in 2 CFR 200

Chapter 5
Subpart D - Post Federal Award Requirements - Standards for Financial & Program Management

  • Describe the post federal award requirements regarding financial management
  • Identify the post federal award requirements regarding program management

Chapter 6
Subpart D - Post Federal Award Requirements - Property Standards

  • Describe the post federal award requirements regarding property standards

Chapter 7
Subpart D - Post Federal Award Requirements - Procurement Standards

  • Examine the post federal award requirements regarding procurement standards

Chapter 8
Subpart D - Post Federal Award Requirements - Monitoring & Reporting by Recipients

  • Identify the requirements regarding performance and financial monitoring and reporting
  • Differentiate among the rules related to recipient record retention and access
  • Contrast the characteristics of a subgrantee with those of a contractor for the purposes of subrecipient monitoring and management

Chapter 9
Subpart D - Post Federal Award Requirements - Remedies for Noncompliance, Closeout & Collection of Amounts Due

  • Identify remedies for noncompliance
  • Determine when an award may be closed out and what is affected by the award closeout
Course Contents :

Chapter 1:  General Principles & Basic Premises

1-1 Note

1-1-1 Inclusion of 2 CFR 200 Sections

1-1-2 What This Course Covers & What It Does Not Cover

1-2 Introduction to Federal Administrative Requirements

1-2-1 Why Uniform Administrative Rules?

1-2-2 Acronyms, Definitions & Relationships

1-2-3 Four Types of Regulations Applicable to Each Grant

1-2-3a Layer 1: Cross-Cutting Administrative Rules

1-2-3b Layer 2: Cross-Cutting Cost Principles

1-2-3c Layer 3: Program Rules

1-2-3d Layer 4: Individual Grant Terms & Conditions

1-3 Overview of Uniform Administrative Requirements & Basic Premises

1-4 Application of the Uniform Administrative Requirements

1-5 Role of the Office of Management & Budget

1-6 Basic Premises

1-6-1 Split That Contract? No, Don’t Split That Contract!

Chapter 1 Summary

Review Questions for Chapter 1

Chapter 2:  Acronyms & Definitions Used in the Uniform Administrative Requirements

2-1 Reviewing Definitions

2-2 Acronyms & Definitions – Index

2-3 Acronyms Used in 2 CFR 200

2-4 Key Definitions Expanded

Chapter 2 Summary

Review Questions for Chapter 2

Chapter 3:  Subpart B - General Provisions

3-1 Purpose & Applicability of the General Provisions

3-1-1 Purpose

3-1-2 Applicability

3-2 Federal Agency Latitude

3-2-1 Exempted Programs Under Parts of 2 CFR 200

3-2-2 OMB May Grant Exceptions

3-3 Title 2 CFR 200 – The “Supercircular”

3-4 Agency Implementation & OMB Responsibilities

3-4-1 Agency Implementation

3-4-2 OMB Responsibilities

3-5 Announcements Must Be in English – Sometimes

3-6 Conflict of Interest

3-7 Mandatory Disclosures

Chapter 3 Summary

Review Questions for Chapter 3

Chapter 4:  Subpart C - Pre-Federal Award Requirements & Contents of Federal Awards

4-1 Grant Agreements, Cooperative Agreements & Contracts

4-2 Public Notice Requirements

4-3 Notices of Funding Opportunities

4-4 Competitive Awards – Merit Review Process

4-5 Risk Assessment by Federal Agencies

4-6 Suspension & Debarment

4-7 Standard Application Requirements

4-8 Remedies When Working with High-Risk Grantees

4-9 Certifications & Representations

4-10 Pre-Award Costs

4-11 Information That Must Be Included in the Award

4-12 Award Information Is Public Information

4-13 Reporting a Determination That an Organization Is Not Qualified

4-14 Non-Federal Entities Subjected to the Non‑Procurement Suspension & Debarment Regulations

Chapter 4 Summary

Review Questions for Chapter 4

Chapter 5:  Subpart D - Post Federal Award Requirements - Standards for Financial & Program Management

5-1 Post Federal Award Requirements – Index

5-2 Standards for Financial & Program Management

5-2-1 Statutory & National Policy Requirements

5-2-2 Performance Measurement

5-2-3 Financial Management

5-2-4 Internal Controls

5-2-5 Bonds & Insurance

5-2-6 Federal Payment

5-2-7 Cost Sharing or Matching

5-2-8 Program Income

5-2-9 Revisions to Budgets & Program Plans

5-2-10 Period of Performance

Chapter 5 Summary

Review Questions for Chapter 5

Chapter 6:  Subpart D - Post Federal Award Requirements - Property Standards

6-1 Insurance Coverage

6-2 Real Property

6-3 Federally-Owned & Exempt Property

6-4 Equipment

6-5 Supplies

6-6 Intangible Property

6-7 Property Trust Relationship

Chapter 6 Summary

Review Questions for Chapter 6

Chapter 7:  Subpart D - Post Federal Award Requirements - Procurement Standards

7-1 Procurement Standards

7-1-1 Procurement by States

7-1-2 General Procurement Standards

7-1-3 Competition

7-1-4 Procurement Methods to Follow

7-1-5 Contracting with Small & Minority Businesses

7-1-6 Domestic Preferences for Procurements

7-1-7 Procurement of Recovered Materials

7-1-8 Contract Cost & Price

7-1-9 Federal Awarding Agency or Pass-Through Entity Review

7-1-10 Bonding Requirements

7-1-11 Contract Provisions

Chapter 7 Summary

Review Questions for Chapter 7

Chapter 8:  Subpart D - Post Federal Award Requirements - Monitoring & Reporting by Recipients

8-1 Performance & Financial Monitoring & Reporting

8-1-1 CFR Index to Performance & Financial Monitoring & Reporting

8-1-2 Financial Reporting Requirements

8-1-3 Monitoring & Reporting Program Performance

8-1-4 Reporting on Real Property

8-2 Subrecipient Monitoring & Management

8-2-1 CFR Index to Subrecipient Monitoring & Management

8-2-2 Subrecipient Monitoring & Management

8-2-3 Requirements for Pass-Through Entities

8-2-4 Fixed Amount Subawards

8-3 Record Retention & Access

8-3-1 CFR Index to Record Retention & Access

8-3-2 Retention Requirements for Records

8-3-3 Transfer of Records

8-3-4 Methods for Collection, Transmission & Storage of Information

8-3-5  Access to Records

8-3-6 Restrictions on Public Access to Records

Chapter 8 Summary

Review Questions for Chapter 8

Chapter 9:  Subpart D – Post Federal Award Requirements – Remedies for Noncompliance, Closeout & Collection of Amounts Due

9-1 Remedies for Noncompliance

9-1-1 CFR Index to Remedies for Noncompliance

9-1-2 Remedies for Noncompliance

9-1-3 Termination

9-1-4 Notification of Termination Requirement

9-1-5 Opportunities to Object, Hearings & Appeals

9-1-6 Effects of Suspension & Termination

9-2 Closeout

9-3 Post-Closeout Adjustments & Continuing Responsibilities

9-4 Collection of Amounts Due

Chapter 9 Summary

Review Questions for Chapter 9

Concluding Remarks

Appendix: Useful Websites

Glossary

Click to go to: Governmental Audit CPE Courses for CPAs | CPE Think
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