If your organization leverages federal government resources, either directly or indirectly, you may be subject to a Single Audit. These are complex but necessary audits to demonstrate your organization is using those resources prudently. Uniform Grant Guidance and the OMB Compliance Supplement set forth the requirements for the testing of federal grant expenditures under a Single Audit. The scope includes careful scrutiny of the organization’s compliance with significant grant provisions as well as assessing the operating effectiveness of the internal controls over compliance. The extent of testing is contingent on several factors, including, but not limited to, the Organization’s experience with federal funding.
Our firm has extensive experience with these audits with a range of funding from many different federal agencies and as a member of the American Institute of Certified Public Accountants’ (AICPA) Government Audit Quality Center, we have access to a variety of resources and tools to help our clients.