This Audit Risk Alert highlights areas of change in audits performed under the Uniform Guidance, focusing on areas which may be challenging or frequently misunderstood. It also discusses emerging practice issues and current developments related to entities subject to an audit performed under Government Auditing Standards and the OMB Uniform Guidance and provides information to help you identify significant risks that may affect an audit of entities receiving federal awards. In addition, this alert provides a summary of revision found in the 2018 Yellow Book.
- The 2018 Yellow Book
- USDA Rural Development
- Dept of Education
- Housing and Urban Development
Keywords: Single audit, Uniform Guidance, Yellow Book, Government Auditing Standards, internal control, OMB, Federal Audit Clearinghouse, compliance supplement, micro-purchase threshold, simplified acquisition, data collection form, independence, CFDA