Topics covered include: Single Audit Uniform Guidance: Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards; Acronyms & Definitions: Subpart A; General Provisions: Subpart B; Pre-Federal Award Requirements and Contents of Federal Awards; Subpart C; Post-Federal Award; Requirements Subpart D; Cost Principles Subpart E; Audit Requirements; Subpart F Administrative Requirements for spending under Federal Grants. Upon completing this course, you should be able to: Differentiate sections of Uniform Guidance; Recognize the elements of Uniform Guidance that apply to the federal award recipient (client) and which elements apply to the auditors; Identify the date the final Council on Financial Assistance Reform was issued; Differentiate subparts of the Uniform Guidance for Federal Awards Contents; Identify characteristics of a contractor with respect to subrecipient/contractors; Recognize cost principles; Identify the new percentage of coverage rule for low risk auditees; Recognize the date policies and procedures with respect to the; Uniform Guidance are effective for federal agencies; Describe steps that must be included in financial management system; Identify the threshold for micro purchases; Recognize the new audit threshold; Identify a common low risk auditee assessment error.