Single Audit

Topics

October 21, 2022

Resources for organizations requiring an audit related to COVID-19 relief

AICPA & CIMA tools can assist organizations new to single audits or similar compliance engagements.

April 14, 2022

Single audit relief provided to certain governments with Treasury COVID-19 funding

Unprecedented federal relief expenditures of the Coronavirus State and Local Fiscal Recovery Funds left many small governments in need of single audits for the first time.

March 1, 2022

Audits of PRF for-profit funds, other issues discussed in GAQC resources

New tools offered by the AICPA Governmental Audit Quality Center discuss coronavirus relief fund audit requirements for for-profit health care entities as well as single audit tips for auditors and organizations subject to single audit requirements.

February 3, 2022

Single audit guidance for 7 programs provided in OMB’s Addendum 2

The OMB issued a second addendum to its 2021 Compliance Supplement for single audits.

January 4, 2022

Single audit clarity provided related to pandemic relief programs

An addendum to the Office of Management and Budget Compliance Supplement that was issued in December provides clarity on single audit requirements related to two key federal pandemic relief programs.

August 17, 2021

Updated single audit guidance provided by OMB in 2021 Compliance Supplement

Some requirements for single audits were clarified with the issuance of the 2021 Compliance Supplement by the Office of Management and Budget. Some questions remain, though, and OMB is expected to issue two addenda with additional guidance.

August 12, 2021

Single audits: Using Compliance Supplements for success

Single audits are especially challenging amid a pandemic-related surge in government aid. Understanding how to apply guidance in the Office of Management and Budget’s Compliance Supplements is critical for delivery of a high-quality engagement.

July 23, 2021

Single audit rules clarified for Provider Relief Fund recipients

Over the last several weeks, HHS has established in its PRF FAQs that the reporting in the PRF Reporting Portal will be based on when PRF payments were received.

July 8, 2021

Why single-audit demand is rising; an update on tax preparer legislation

A CPA shares advice for organizations and practitioners on single audits and why more expertise is needed, and an AICPA vice president explains the reasons behind the organization’s support of a bill recently introduced in the House of Representatives.

May 6, 2021

Single audit: Pandemic aid and major program determinations

As pandemic relief adds to funding that needs to be considered in a single audit, it’s important to remember that the rules in the Uniform Guidance still prevail.

April 1, 2021

GAO: Guidance for single audits should be more timely, responsive

A US Government Accountability Office report has concluded that yearly federal guidance provided to single audit practitioners should be more timely and more responsive to auditors’ input and needs.

March 25, 2021

Deadline for certain single audits delayed because of pandemic

The Office of Management and Budget is permitting a six-month delay beyond the normal due date for recipients and subrecipients with fiscal year ends through June 30, 2021, that have not yet filed their single audits with the Federal Audit Clearinghouse.

February 11, 2021

Single audits: Deliver high quality in a challenging time

The federal funding surge that accompanied the coronavirus pandemic has made single audits more challenging than ever. But now that the rules have been released, practitioners need to focus on delivering high-quality single audits in this difficult time.

December 23, 2020

Guidance for single audits provided in OMB compliance addendum

The Office of Management and Budget released its 2020 Compliance Supplement addendum, providing single audit practitioners with information they were eagerly awaiting on how to audit federal economic relief programs related to the coronavirus pandemic.

October 20, 2020

Tips for single audits amid pandemic uncertainty

An avalanche of new federal awards has left practitioners who perform single audits working under uncertain circumstances and awaiting regulators’ guidance. Here’s how practitioners can give themselves a chance to succeed under challenging conditions.