Gather and summarize federal grant information – This includes grant award documentation and the CFDA number for each federal award.While we can’t cover everything an auditee can do to prepare for a Single Audit in this article, here are a few tips to get you started: You also can find information at However, it’s important to verify requirements with the awarding agency. Reviewing the grant agreement and performing a search of the program on can help you determine if funds you received are subject to a Single Audit. According to the Uniform Guidance, a Single Audit is required “when a non-federal entity expends $750,000 or more of federal awards (either direct or indirect awards) in their fiscal year” (Section 200.501(b)). The term “expended” is based on when the activity related to the federal award occurs, which includes disbursing funds to subrecipients. Once you’ve identified the federal awards your organization has received, you must quantify the amount of those federal awards that was expended during your fiscal period. Federal awards include not only those received directly from a federal awarding agency but also those indirectly received from a pass-through entity (as a subrecipient). To determine if your organization is required to have a Single Audit, you must first identify the federal awards received that are subject to Single Audit. For example, while the majority of COVID-19-related funds are subject to Single Audit, one major program-the Paycheck Protection Program-isn’t subject to Single Audit. Not all federal awards are subject to Single Audit. Is my organization required to have a Single Audit? It’s a good source to find what an auditor will be looking at during your Single Audit. The Compliance Supplement addresses compliance requirements of federal awards overall and establishes the compliance requirements that are subject to audit for certain federal programs. The OMB also issues a Compliance Supplement annually as comprehensive and authoritative guidance for Single Audits. Uniform Guidance contains uniform cost principles and audit requirements for federal awards and administrative requirements for all federal grants and cooperative agreements. Single Audits are currently implemented by Uniform Guidance, which is issued and maintained by the Office of Management and Budget (OMB). In addition to providing an opinion on the financial statements, a Single Audit report includes reports on the Schedule of Expenditures of Federal Awards (SEFA), internal control over financial reporting, and compliance and internal control over compliance. In short, a Single Audit is an organizationwide financial and compliance audit. This article addresses some questions you may have about preparing for a Single Audit. For organizations that haven’t received significant federal financial assistance before, preparing for a Single Audit can be a little overwhelming-but it doesn’t have to be. If your government or nonprofit organization has received federal funding in response to the COVID-19 pandemic, such as the Coronavirus Relief Fund established by the Coronavirus Aid, Relief, and Economic Security Act, you may be required to have a Single Audit performed.
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