NOT2417. What does the adoption of SAS 145 mean to Uniform Guidance Audits?

Risk assessment under SAS 145 is now upon us.  How will SAS 145 (and SAS 148) impact how I plan and perform my single audit engagements. 

Learning Objectives:

• Differentiate between SAS 145 and 148 and determine how SAS 148 applies to a Uniform Guidance Audit
• Identify the nuances of assessing the risk of material noncompliance and inherent risk
• Distinguish between "direct and material' assessments and risk of material noncompliance