Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance or UG for short) requires non-profit organizations and state and local government auditees to complete a Schedule of Expenditures of Federal Awards (SEFA). The SEFA must include expenditures for each grant during the period covered by the organization’s financial statements. The SEFA is not necessarily straightforward due to several factors including: updated Uniform Guidance requirements, CFDA numbers, etc. Your auditor is required to audit the SEFA and to provide an opinion. The SEFA is an important part of preparing for your Single Audit. Careful attention should be given to its preparation in order to reduce scrutiny by your auditors and to provide better focus on the key grants which will need to be tested. It is important that your organization understand how to complete the SEFA in order to smooth the Single Audit process.
Please join Diane E. Edelstein CPA as she offers guidance on how to complete your SEFA in order to smooth your Single Audit and to make sure you are in compliance with all of the Uniform Guidance requirements.
WHAT YOU’LL LEARN
Just a sample of the many practical tips you’ll take away: Review auditee requirements relating to:
Understand auditor requirements relating to:
- Preparation the SEFA
- Understanding the different elements ofthe SEFA
- Ensuring the accuracy of the SEFA
Updated Uniform Guidance requirements Best practices and pitfalls to avoid AND MUCH MORE!
- Independence standards when assisting in SEFA preparation
- Ensuring the SEFA is accurate
- Reporting on the SEFA
YOUR CONFERENCE LEADER
Your conference leader for “The Schedule of Expenditures of Federal Awards: An Impotant Part of Preparing for Your Single Audit” is Diane E. Edelstein, CPA and partner, Maher Duessel, Pittsburgh, PA. Ms. Edelstein has more than 25 years of auditing experience. At Maher Duessel she is the director of quality control for the firm and is responsible for assuring the firm’s compliance in the American Institute of Certified Public Accountants (AICPA) Governmental Audit Quality Center and specializes in single audits. She was issued an Advanced Single Audit Certificate by the AICPA in April, 2016. Diane serves as partner on several audit engagements with local governments and nonprofits including HUD-funded agencies, human service organizations, municipalities, religious institutions, associations, and educational agencies. She is a sought after speaker and lecturer, and has presented for the AICPA, PICPA, and other organizations on numerous topics including single audit, new uniform guidance, and other important issues. She is active in the AICPA and PICPA, as well as her community as a volunteer.