GAE2508. Big Changes Coming to Single Audits: Updates to the AICPA Audit and Accounting Guide GAS and Single Audits – Part 1

This session is part one of a two-part series addressing significant enhancive changes being made to the AICPA Audit and Accounting Guide: Government Auditing Standards and Single Audits (Guide) which will have an impact on anyone who performs single audits. Participants will gain context around the updates to the 2025 Guide including background information, issuance approach, and organization of the Guide. In Part 1, emphasis will be placed on new and clarifying content addressing risk assessment, evaluating and testing internal controls, and entity-wide procedures.

Learning Objectives:

• Identify the updated issuance approach and structural organization of the Guide based on enhancive updates being made.
• Identify and explain enhancements to entity-wide procedures.
• Evaluate how the Guide’s updates clarify expectations related to internal control and risk assessment procedures.