What is a Single Audit and when do I have to have one?

Single Audits under the Uniform Guidance (Formerly OMB A-133)

The Single Audit Act was created by the federal government to improve the effectiveness of audits of federal awards and to reduce the burden on states, local governments, and non-profit entities who received them.

What is a Single Audit?

A Single Audit is an examination by an independent auditor that helps federal agencies determine an entity’s compliance with the federal program. Federal agencies that require single audits include the Department of Health and Human Services, Department of Education, and the Department of Agriculture.

When is a Single Audit Required?

If you are a state, local government or nonprofit entity that received federal grants during the entity’s fiscal year and expended more than $750,000 in federal grant awards, a Single Audit is required.

Finding a Qualified CPA Firm to perform the Single Audit

In selecting a CPA firm to perform the Single Audit, careful considerations should be used due to the complex nature of these audits. It is highly recommended that CPA firms that are considered have prior experience performing Single Audits. At KS LLP, we have over 20 years of experience performing Single Audits and have the most up to date knowledge of how to perform the procedures required by the various governmental agencies. To find out more about our Single Audit practice, please contact us.