Enable Single Audit on an existing engagement
You can create a new Single Audit only engagement or enable Single Audit on an existing risk based or financial statements audit engagement. Do the following to enable Single Audit on an existing engagement:
- Sign in to Engagement Manager and open your engagement.
- SelectManagefrom the client.
- SelectGuided Assurance properties.
- ChooseEdit engagement setupthenContinue.
- Mark the box to enableSingle Auditand then selectContinue.
- SelectNext.
- Edit any answers to the setup questions, including the questions that were added from enabling Single Audit.
- SelectNext.
- Complete the Single Audit Setup section and selectDone.TheFiscal year start datewill already show the date from the Engagement Manager engagement, and theUse this supplementbox will automatically use the suggested compliance supplement based on the date entered.
Once you've set up the Single Audit, Engagement Manager creates a new Single Audit folder in the Workpapers tab that'll have the required Single Audit workpapers based on your setup. This is where you can enter federal awards and determine whether a Single Audit is required.