The Governmental Audit Quality Center (GAQC) hosted a webinar on the new Uniform Guidance (UG) for single audits. The webinar covers topics including background and overview of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards at 2 CFR 200 (UG), an overview of auditor responsibilities, auditee responsibilities, compliance requirements, internal control, reporting, tips for auditees, and resources.
This webinar provides useful information for implementing the new UG requirements with regards to what the Town’s financial management system will need to incorporate as well as guidance on how to prepare the required written policies and procedures. Under UG, the Town’s financial management system will need to be able to identify all federal awards received and expended and which federal programs they apply to. The information should include the corresponding Catalog of Federal Domestic Assistance (CFDA) title and number, federal award identification number and year, federal awarding agency, and pass-through entity (PTE). The Town must also implement written policies and procedures that satisfy the requirements for cash management and allowability of costs based on the terms and conditions of the federal awards.
|Below you will find instructions on how to access the AICPA webinar as well as the corresponding PowerPoint presentation. Feel free to distribute this to anyone in your organization that would benefit from this information.
Click on link below, to listen to the archived Web event:
Click on the link below, to access the PowerPoint:
Senior Staff Accountant