Audit
Single Audits
Audits of federal awards under the Uniform Guidance, for organizations that spend $1,000,000 or more in federal funds in a year.
Who It's For
Who needs a single audit
The Uniform Guidance (2 CFR 200, Subpart F) requires a single audit when an organization spends $1,000,000 or more in federal awards in a fiscal year beginning on or after October 1, 2024. Before that, the threshold was $750,000.
Federal awards you receive through a state or another organization count toward the threshold too.
What You Get
What you get
Financial statement audit
Performed under Government Auditing Standards, with our opinion on your financial statements.
Major program compliance
We test compliance and internal control over your major federal programs, and give our opinion on compliance.
Reporting package
Our reports, including on your schedule of expenditures of federal awards, ready for the Federal Audit Clearinghouse.
How It Works
How it runs
- 1
Proposal
We scope the work from last year's reports, your federal programs and your deadline, and send a proposal with a clear fee and timetable.
- 2
Onboarding
You get a document checklist and an agreed timetable. If you are switching from another firm, we handle the handover with them.
- 3
Fieldwork
We test the numbers against your records and come back to you with specific questions, not open-ended requests.
- 4
Report
You receive the audited financial statements with our opinion, and a letter on anything the board or management should know.
FAQ
Questions We Hear Most
Does a single audit replace our regular audit?
It includes it. A single audit is your financial statement audit plus the compliance audit of your major federal programs, done together.
When is it due?
The reporting package is due 30 days after you receive our reports, or nine months after your fiscal year end, whichever comes first.
Do federal funds we receive through the state count?
Yes. Federal awards you receive as a subrecipient, through a state or another organization, count toward the $1,000,000.
How is the fee set?
We scope the work from last year's report, your circumstances and your deadline, and the proposal states the fee before any work starts.
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