The Schedule of Expenditures of Federal Awards (SEFA) under Uniform Guidance (Completed)

The SEFA is the responsibility of the auditee and has many challenging rules that must be followed. The Auditor is required to give an in-relationship to opinion on the SEFA and must utilize the SEFA in doing major program determination. This session will discuss the elements of the SEFA, the responsibilities of both the auditee and the auditor and the problems and pitfalls in this area.

Who Should Attend
Auditors and auditees.

Topics Covered

• Elements of the SEFA
• Responsibilities of both the auditee and the auditor
• Independence standard considerations if the Auditor assists in preparation of the SEFA
• Required elements of SEFA
• Problems and pitfalls in SEFA preparation
• Ensuring accuracy of the SEFA
• Auditors reporting on the SEFA

Learning Objectives

• Recognize the auditees role in preparing SEFA
• Differentiate independence standard considerations if the Auditor assists in SEFA preparation
• Identify the required elements of the SEFA
• Recognize problems and pitfalls in SEFA preparation
• Define how to ensure accuracy of the SEFA
• Identify the role of the auditors reporting on the SEFA

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (Governmental) (2 hours)

Program Prerequisites
None

Advance Preparation
None