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Engagement Setup Questions

Single Audit and Yellow Book Setup Questions

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 “Do Government Auditing Standards (Yellow Book) apply to this engagement?” 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.