Found It! Reporting Findings in Yellow Book and Single Audits
-
Virtual
2.00 Credits
Member Price $109.00
Non-Member Price $189.00
Overview
You could pay $0 for this course!
When auditors detect findings in Yellow Book and single audits, they do not just communicate them in some shabby little letter to management; they get reported! In this course, we will examine what types of findings get reported, how they get reported, and where they get reported! This course will take you from just checking a box and fulfilling a requirement to developing and delivering findings that make a meaningful difference to your clients.This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13055. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.
Highlights
The types of findings reported in Yellow Book and single audits The requirements for reporting findings under the 2024 Yellow Book revision and the 2024 revision to the Uniform Guidance How to really think through the elements of a finding to assist report users
Prerequisites
Some introductory background in Yellow Book and single auditing
Designed For
Not-for-profit and government auditors
Objectives
Understand and apply the Yellow Book and Uniform Guidance requirements for developing and reporting findings Assist clients and report users in understanding where problems exist and how they can be corrected Skillfully write and report findings
Preparation
None
Leader(s):
Leader Bios
Lee Klumpp, BDO USA, P.C.
Lee Klumpp, CPA, CGMA is BDO’s National Nonprofit & Education Industry Group Audit and Accounting Technical Leader. Lee recently completed a fellowship at the Financial Accounting Standards Board (FASB). During Lee’s fellowship, he led the FASB’s project to reexamine existing standards for financial statement presentation by not-for-profit entities, focusing on improving the net asset classification requirements and information provided in financial statements and notes about liquidity, financial performance, and cash flows. He also focused on various FASB agenda projects and implementation and emerging practice problems in the nonprofit industry. His responsibilities included making recommendations to the Board on technical issues and developing and drafting Accounting Standards Update. Lee has 20 years of experience serving a diverse group of nonprofit organizations while working for BDO and previously in the audit practices of Ernst and Young, LLP and KPMG. In his role at BDO, he spends a significant amount of time researching, writing, and disseminating information related to recent accounting and auditing pronouncements promulgated by the FASB, the Governmental Accounting Standards Board (GASB), the Office of Management and Budget, the Government Accountability Office, the Auditing Standards Board, and other groups that provide guidance for the nonprofit industry. Additionally, Lee is an accomplished speaker and has spoken on various not-for-profit accounting, governance auditing, internal control, governance, financial reporting, and single audit issue topics related to nonprofit organizations around the country.
Non-Member Price $189.00
Member Price $109.00