CPE Self-Study

Comprehending OMB Circular A-133

Publisher: AICPA
  • $149.00-$189.00
    Comprehending OMB Circular A-133 In Stock Product #: 730939
    AICPA Member: $149.00
    Non-Member: $189.00
  • $155.00-$195.00
    Comprehending OMB Circular A-133 Online Access Product #: 163240
    AICPA Member: $155.00
    Non-Member: $195.00

This CPE course explains the basic elements and requirements of an OMB Circular A-133 compliance audit, including who must undergo this type of audit and why, and its relationship to GAAS and the Yellow Book.

Topics Discussed:

  • Fundamentals of a compliance audit performed under OMB Circular A-133
  • Identifying federal assistance
  • Recipients, pass-through awards, and subrecipients
  • Major program determination
  • Using the compliance supplement
  • Testing compliance with laws and regulations
  • Testing internal control over compliance
  • Audit reports

Learning Objectives:
When you complete this course, you will be able to:

  • Explain how GAAS and the Yellow Book relate to an OMB Circular A-133 audit
  • Distinguish federal awards from payments for goods and services
  • Define and explain the importance of Circular A-133 terms recipient, pass-through entity, subrecipient, and vendor
  • Explain the concept of subrecipient monitoring and discuss related auditing considerations
  • Determine how the cost principles circulars relate to the allowable costs/cost principles compliance requirement
  • Examine the auditor’s responsibility for testing compliance in OMB Circular A-133 audits
  • Understand the reporting requirements in the compliance audit

Who Will Benefit?
Audit staff new to the OMB Circular A-133 compliance audit process and those who need a refresher of key elements of a compliance audit.

Prerequisite: None

Advanced Preparation: None

System Requirements

About the Authors

Laura Lindal, CPA

Kirkland, Washington

Laura Lindal, CPA has more than twenty-five years of experience in auditing, concentrating on audits performed in accordance with Government Auditing Standards, including HUD audits, and single audits (also referred to as A-133 audits). In addition to spending those 25 years performing audits, she also works with companies and organizations as they develop their internal control and policies and procedures related to their financial reporting process as well as working with auditees preparing for audits. She works with auditors and their firms to design, document and perform audits in accordance with professional standards while maintaining the highest degree of efficiency possible.

Laura provides continuing professional education in various areas, including single audits, HUD audits and Yellow Book audits. Laura is a Certified Public Accountant in California, Washington, and Alaska. She currently has an audit practice in Kirkland, Washington.

About the Publisher


About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.