Overview of Uniform Guidance
Author: Diane Edelstein
| CPE Credit: |
2 hours for CPAs |
Uniform Guidance (UG) is written for the federal agencies, auditors and auditees. Uniform Guidance had a revision in August of 2020. We will look at the various sections of Uniform Guidance including administrative requirements, cost principles and audit requirements.
Publication Date: May 2022
Designed For
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Topics Covered
- History and Who Follows Uniform Guidance
- Uniform Guidance - UG: Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
- Overview of the Sections of Uniform Guidance
- Acronyms & Definitions — Subpart A
- General Provisions — Subpart B
- Pre-Federal Award Requirements and Contents of Federal Awards — Subpart C
- Post-Federal Award Requirements — Subpart D
- Cost Principles — Subpart E
- Audit Requirements — Subpart F
Learning Objectives
- Recognize and apply the different sections of UG
- Identify the administrative requirements of UG
- Describe the cost principles of UG
- Recognize when a Single Audit is required and the requirements for both auditors and auditees
- Identify the effective date of the updated Uniform Guidance
- Describe which term is replaced with the term "contractor" defined within Subpart A
- Identify and apply the steps in the major program determination and risk assessment process
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Auditing (Governmental) (2 hours)
Program Prerequisites
None
Advance Preparation
None
