Single audit readiness in response to COVID-19 relief funding
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Single audit readiness: preparing for your post-pandemic federal compliance audit, part 2

The federal government has allocated billions of dollars in COVID-19 relief funding for state and local governments, tribal governments, school districts and other public sector entities. Between funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the $350 billion for governments, tribes and schools through the American Rescue Plan Act of 2021 (ARP), your organization may be subject to a federal compliance audit, also known as a single audit. A single audit is required when a non-federal entity expends $750,000 or more in federal grant funds in a fiscal year.

This year’s single audit will require additional reporting to comply with the COVID-19-related requirements associated with receiving federal relief funding.

Baker Tilly’s public sector accounting and auditing specialists are hosting a two-part webinar series to help governmental entities prepare for single audit compliance. Join us on April 20 and/or April 22 to learn how to prepare for your entity’s federal compliance audit.  

Note:  This webinar is intended for entities that have had single audits in the past. We are hosting a similar webinar for entities that have not previously filed a federal single audit on April 20.

Key learning objectives  

After attending this webinar, participants will be able to: 

  • Describe CARES Act and ARP funding streams,  amounts, eligible expenditures,  challenges and opportunities from a  single audit  perspective  
  • Identify the key components and requirements of a single audit, highlighting the changes and new reporting requirements related to COVID-19
  • Demonstrate the proper  internal controls are in place across your organization 
  • Take a proactive, risk-based approach to preparing for  post-pandemic  single audit compliance

Meet the presenters 

Who should attend?  

This webinar is intended for individuals who work for state and local governments, tribal governments, public sector organizations, municipal utilities, not-for-profit organizations and healthcare entities who are:  

  • Responsible for accounting and compliance  (finance directors, treasurers, comptrollers) 
  • Users of governmental financial statements (management as well as members of governing bodies including board members and other elected officials) 
  • Financial statements preparers (finance office staff) 

Information about CPE eligibility 

There are no prerequisites for this webinar, and advance preparation is not required. There is no cost to attend this webinar. 

  • CPE credits: One  and one half  (1.5) hours  total credit 
  • Level: Basic 
  • Field of study: Accounting (Governmental) (0.5 CPE), Auditing (Governmental) (1 CPE)

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For more information regarding administrative policies such as complaint and refund policies, please contact us at +1 (608) 240 2522.

Baker Tilly US, LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: learningmarket.org.

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