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Single Audit and Yellow Book Setup Questions
note
For a discussion of setup questions for an engagement created with practice aids titles released November 2011 and later, see the SMART Engagement Setup Questions topic.
Additional setup questions regarding single audits and Yellow Book appear on the Create Client Engagement window only when you select the following practice aid titles:
- Audits of Local Governments
- Audits of Nonprofit Organizations
- HUD Audits
If You Select Yes
Selecting
Yes
to the first question "Do OMB Circular A-133 (Single Audit) requirements apply to this engagement?" causes the answer to the second question 鈥淒o Government Auditing Standards (Yellow Book) apply to this engagement?鈥 to default automatically to Yes
.When you select
Yes
in response to the single audit question, specific audit procedures are included in the engagement. These audit procedures are not as identifiable under a category as are initial audit procedures. An auditor selecting this option should have knowledge of the government requirements regarding audits of federal awards administered by non-federal entities. These procedures are more stringent in nature than a non-single audit engagement.In addition, another audit area, Audit of Federal Award Programs, is added to the engagement. This audit area appears only under the
Review & Modify Audit Programs
step. Risks cannot be added to this audit area. (The Audit of Federal Award Programs audit area does not appear when you select No
.)When you select
Yes
to the single audit question, the yellow book audit procedures (procedures based on Government Auditing Standards) are included in the engagement. Again, they are not identifiable in the engagement as are initial audit procedures.If You Select No
If you select
No
to the single audit question, you will have the option to add the yellow book audit procedures manually.note
A HUD engagement shows only the single audit question. However, when you select
Yes
to this question, the yellow book procedures are automatically included along with single audit procedures.