735:(OMB) issued OMB Circular A-128, "Audits of State and Local Governments," to help recipients and auditors implement the new Single Audit. In 1990, OMB administratively extended the Single Audit process to non-profit organizations by issuing OMB Circular A-133, "Audits of Institutions of Higher Education and Other Non-Profit Organizations" which superseded OMB A-128. These new guides and provisions standardized the Single Audit in the United States to include all states, local governments, non-profit organizations, and institutions that receive federal funds from the US government. On December 26, 2013, OMB issued the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, which standardized compliance and audit requirements for government entities, non-profit organizations and institutions of higher education. These consolidated requirements are codified in Title 2 of the Code of Federal Regulations (CFR), part 200 with the single audit requirements in Subpart F of this section. The terms 2 CFR 200 and Uniform Guidance can be used interchangeably.
1085:
recipients must always comply with when receiving and using federal assistance, and provided detailed explanations, discussions, and guidance about them in the OMB Compliance
Supplement. These compliance requirements only serve as guidelines for compliance with the specific laws and regulations applicable to the assistance and their objectives are designed to be generic in nature, because of the amount of different federal programs provided by the government. For example, many federal programs have eligibility requirements for individuals or organizations to participate in such programs because they have been established by either laws, regulations, or contract provisions. However, while the criterion for determining eligibility varies from program to program, the objective of the Eligibility compliance requirement that "only eligible and qualified individuals or organizations participate" is consistent and universal across all federal assistance programs. This eligibility universal criterion is called the
1213:(GAGAS) and using the guidance provided by the OMB Circular A-133 and its Compliance Supplement, all of which establish certain rules to follow during the Single Audit. The auditor must establish audit objectives that determine whether the recipient complied with laws and regulations. They must research the recipient's federal assistance awards and programs to determine applicability of specific laws and regulations. They must understand the recipient, its organization, operations, internal control systems, and ability to responsibly manage federal assistance. They must perform audit procedures (some of which are suggested by the Compliance Supplement) to meet these audit objectives.
1221:
Accounting
Principles, identical to a financial audit's report on a non-recipient entity. The second report is about the status of internal controls relative to the financial statements and major programs. The third report is an opinion, or a disclaimer thereof, on the degree to which the recipient has complied with laws, regulations, and the terms and conditions of the federal assistance awards. Following the last two reports, if the Single Audit produced audit findings, the auditor must prepare the Schedule of Findings and Questioned Costs discussed earlier.
1039:, a minimum number of Type B programs must be identified as high risk, calculated as 25% of the number of low-risk Type A programs (rounded up). In assessing risk, auditors are encouraged to use an approach that allows different programs to be identified as high risk over time. The auditor is not expected to perform risk assessments on smaller Type B programs with expenditures that do not exceed 25% of the Type A threshold determined in step 1. Type B programs which have a low risk of not complying are not required to be audited.
633:
1070:
and serves to identify existing important compliance requirements that the
Federal Government expects to be considered as part of a Single Audit. Without it, auditors would need to research thousands of laws and regulations for each single program of a recipient to determine which compliance requirements are important to the Federal Government. For Single Audits, the Supplement replaces any agency audit guides and other audit requirement documents for individual Federal programs.
855:. These federal expenditures are then combined to determine the total amount expended during the year. Any recipient whose total federal expenditures during a year equal or exceed $ 750,000 requires a Single Audit. If the recipient does not meet this threshold, a Single Audit is not required, although the recipient may elect to have a program-specific audit (an audit of a single federal program, without auditing the entire entity). Once this determination is performed,
772:
not comply with laws and regulations, identify federal programs, and evaluate such programs. The second stage, or exam or audit stage, is where the auditor actually audits the federal assistance and programs. The planning stage is considered an integral part of the Single Audit because it allows the auditor to design and perform the audit based on the qualities, characteristics and needs of the recipient to be audited.
51:
748:, as well as any particular provisions tied with the specific assistance. The Single Audit provides the Federal government with assurance that these recipients comply with such directives by having an independent external source (the CPA) report on such compliance. However, it only applies to state, local government, and nonprofit recipients that expend $ 750,000 or more of such assistance in one year.
1194:. For award recipients with fiscal year-ends through June 30, 2020, an agency is allowed to extend recipients' deadlines to complete and submit a Single Audit package by up to six months. For award recipients with fiscal year-ends between July 1 and September 30, 2020, an agency is allowed to extend recipients' deadlines to complete and submit a Single Audit package by up to three months.
1057:
These functions are compared with the laws and regulations applicable to a program to see if they complied or not. The examination does not require observing every single document and every single process generated by the program. Nevertheless, the auditor is required to perform enough procedures to form an opinion on whether the program (as a whole) complied with laws and regulations.
1048:
program expenditures as a percentage of total award expenditures must be at least 20%. For high-risk auditees, the required coverage percentage is increased to 40%. If the identified major programs do not meet the required coverage percentage, then the auditor must select additional programs to audit until the required coverage percentage is met.
759:, the general management of its operations, internal control systems, and federal assistance it received during the audit period (the time period of recipient operations examined in the Single Audit, which is usually covers a natural or fiscal year). The Single Audit is divided into two areas: Compliance and Financial.
1133:
Management
Discussion and Analysis (MD&A) – This serves as an introduction to the recipient's financial statements where the recipient's management (e.g., governors, in the case of states; mayors, in the case of cities; president, in the case of many nonprofit organizations) discusses the results
1125:
After the Single Audit is concluded, the recipient prepares two documents: a "Data
Collection Form" and a "Reporting Package". The data collection form, Form SF-SAC, is a standard form which is basically a summary of the Single Audit. It includes details of the auditor, a list of the federal programs
1047:
High-risk Type A and high-risk Type B programs are considered major programs and must be audited. The auditor then totals all of the federal award expenditures for the identified major programs and divides by the total federal award expenditures for the entity as a whole. For low-risk auditees, major
727:
Before implementing the Single Audit, the federal government relied on numerous audits carried out on individual federally funded programs to ensure these funds were spent properly. Because the government had numerous agencies awarding hundreds of different programs, the task of auditing all programs
1224:
The auditor's judgment is necessary to determine which audit procedures are sufficient to achieve the audit objectives, and whether additional or alternative audit procedures are needed to achieve such objectives. The auditor is responsible for determining the nature, timing, and extent of the audit
1200:
On June 18, 2020, the Office of
Management and Budget issued a memo, stating that extensions are no longer allowed for organizations with 2020 year-ends because, "during the Coronavirus pandemic, many recipients learned the capabilities and are now getting the experience to perform the objectives of
1069:
The OMB Compliance
Supplement is a large and extensive guide created by the OMB for Single Audits, and is considered the most important tool of both the auditor and the recipient when performing, or being subject to, a Single Audit. It was created following amendments in 1996 to the Single Audit Act
829:
The
Uniform Guidance uses the high- and low-risk determination to regulate the dollar amount of federal expenditures to be audited. Although the actual work necessary for a Single Audit is established by the auditor, the OMB has set a limit for auditing high-risk and low-risk auditees. For high-risk
1948:
1166:
Schedule of
Findings and Questioned Costs – If the auditor finds situations where the recipient did not comply with laws and regulations, where internal controls are deficient, or a situation of illegal acts or fraud, the auditor is required to report such situations in this section, as well as any
1026:
For any Type A program considered to be a high risk of not complying, the
Uniform Guidance requires that the auditor to perform a compliance audit on that program. For a Type A program that is considered to be of low risk, then the auditor is not required to perform a compliance audit, although the
762:
The compliance component of a Single Audit covers the study and understanding (planning stage) as well as the testing and evaluation (exam stage) of the recipient with respect to federal assistance usage, operations and compliance with laws and regulations. The financial component is exactly like a
1216:
The auditor must understand the recipient's internal control system to determine if the recipient has proper safeguards that help manage federal assistance responsibly. After obtaining sufficient knowledge of that system, the auditor must perform audit procedures to verify the recipient's internal
1056:
After the auditor determines which federal programs to audit, the auditor performs a compliance audit that scrutinizes operations of the program—examining files, documents, contracts, checks, etc. The auditor investigates, to some degree, transactions between the federal program and other parties.
999:
based on such study to determine whether each program has either a high or low risk of not complying with laws and regulations. Auditor may consider numerous factors including current and prior audit experience, good or poor internal controls over Federal programs, many or no prior audit findings,
771:
For these reasons, the federal government requires auditors to perform the compliance audit of a recipient with a planning stage and an exam stage. During the first stage, or planning stage, the auditor must study the recipient, determine whether there is a high or low risk that the recipient does
1220:
As part of the Single Audit, the auditor must prepare and submit three individual reports to the recipient and to the federal government. The first report is an opinion, or a disclaimer thereof, on whether the recipient's financial statements are presented in conformity with US Generally Accepted
1084:
Compliance requirements are series of directives provided by Federal agencies that summarize hundreds of laws and regulations applicable to federal assistance and are important to the successful management of such assistance. The OMB created 14 basic and standard compliance requirements for which
1116:
thereof, are presented fairly in all material respects in accordance with generally accepted accounting principles. Additionally, the recipient must prepare a Schedule of Expenditures of Federal Awards (SEFA), which is supplementary information to the financial statements unique to recipients of
971:
Example 1: The City of Example operates a Section 8 program, and expended $ 950,000 in Section 8 funds and $ 5,000,000 of total federal assistance during the year. Since this amount does not exceed $ 25,000,000, the Section 8 program is considered a Type A program because $ 950,000 exceeds the $
743:
The federal government provides an extensive array of federal assistance to recipients reaching over $ 400 billion annually. This assistance is provided through thousands of individual grants and awards annually for the purpose of benefiting the general public in the areas of education, health,
767:
of a non-federal entity which includes the audit of the financial statements and accompanying notes. Depending on the recipient, the Single Audit can be simple and straightforward, or it could be complex and troublesome. This is because there are millions of federal grants awarded each year to
979:
Example 3: Using the same data in Example 1 with the exception that the City of Example now expended a total of $ 100,000,000 in federal assistance, the Section 8 program would not meet the Type A threshold because $ 950,000 is less than $ 3 million, and would be considered a Type B program.
833:
This determination affects the entire Single Audit because the auditor adjusts the scope of the audit accordingly. Since the auditor must provide an opinion to the federal government on whether the recipient and its programs complied with laws and regulations, the auditor performs sufficient
793:
auditee. A high-risk auditee is a recipient which has a high risk of not complying with federal laws and regulations, while a low-risk auditee is the exact opposite. The Uniform Guidance has set certain requirements a recipient must meet to be considered a low-risk auditee. This includes the
975:
Example 2: Using the same data in Example 1 with the exception that the City of Example now expended a total of $ 30,000,000 in federal assistance, the Section 8 program would meet the Type A threshold because $ 950,000 is greater than $ 30,000,000 x 3% ($ 900,000).
1178:(FAC), and to any Federal agency who specifically requests it. Federal guidelines require recipients to submit the documents no more than 30 days after the auditor submits his reports or 9 months after the final day of the audit period, whichever comes first.
1111:
be performed on the recipient that includes the federal assistance operations as well as the non-federal assistance operations. Tests of transactions and account balances are performed to ensure that the information presented in the financial statements, and
728:
became increasingly difficult and time-consuming. To improve this situation, the Single Audit Act of 1984 standardized audit requirements for States, local governments, and Indian tribal governments that receive and use federal financial assistance programs.
1117:
federal assistance that details all the federal assistance expended by the recipient during the year, categorized by federal program. The auditor must then audit and report on this Schedule "in relation to" the financial statements as a whole.
1027:
Uniform Guidance allows the auditor to do so if he/she chooses. Although the risk assessment is performed by the auditor based on his/her judgment, the Uniform Guidance does have two requirements for a program to be considered low risk.
1060:
Due to the amount of federal regulations, the federal government has provided certain guides and literature to assist the auditor in the examination, which includes the OMB Compliance Supplement and the Compliance requirements:
994:
After determining which programs are Type A and Type B, the Uniform Guidance requires that the auditor study and understand the operations and internal controls of such programs within the entity, and perform and document a
1225:
procedures necessary to meet the audit objectives (i.e., it is the auditor who determines the necessary amount of his/her audit work needed to form an opinion on whether the recipient complied with laws and regulations).
1159:
Supplemental Information – This section includes both financial and non-financial information relative to the recipient which is not covered in the MD&A or the financial statements and their respective
1276:
1163:
Schedule of Federal Award Expenditures – This document details all federal assistance expenditures made by the recipient during the audit period, categorized by the federal program and federal agency.
1126:
audited, and a summary of any audit findings reported by the auditor. The Reporting Package includes all the auditor's final reports along with the recipient's financial statements. It includes:
1439:
1167:
questioned costs. Questioned costs are amounts that the recipient expended, but which the auditor has determined that they were not permitted and must be returned to the federal government.
1107:
that reflect its financial position, results of operations or changes in net assets, and, where appropriate, cash flows for the fiscal year audited. The Single Audit also requires that a
1170:
Schedule of Prior Audit Findings – In this section, the auditor is required to follow up and report about the recipient's corrective action of any audit findings reported in prior years.
1990:
M 20-26 Extension of Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel Coronavirus (COVID-19) due to Loss of Operations
852:
2275:
1197:
The extension may be given automatically, but recipients should still retain documentation of how the pandemic reduced its operational capacity and how the award was affected.
700:
768:
thousands of recipients, each with its own independent way of operating. Therefore, the Single Audit differs from recipient to recipient and from federal program to program.
830:
auditees, the auditor is required to audit not less than 40% of all the federal assistance received during the year. For low-risk auditees, that limit is decreased to 20%.
1217:
control system works properly, and the recipient's federal program operations comply with laws and regulations (e.g., the compliance audit portion of the Single Audit).
814:
None of the Federal programs had audit findings from any of the following in either of the preceding two audit periods in which they were classified as Type A programs:
1000:
continuous or lack of oversight exercised by the federal government over the recipient, evidence or knowledge of fraud, and the inherent risk of the Federal program.
744:
public safety, welfare, and public works, among others. However, as a condition of receiving this assistance recipients must comply with applicable federal and state
680:
2113:
Circular A-110, “Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Non-Profit Organizations”
1928:
1401:
OMB Circular A-133: Compliance Supplement; Part I: Background, Purpose and Applicability; Background; pg. 1-1, par. 1 through 4 and pg. 1–2, par. 1 through 2
1461:
1485:
OMB Circular A-133: Compliance Supplement; Part I: Background, Purpose and Applicability; Overview of this Supplement; Internal Control; pg. 1–6, par. 5
2194:
1030:
In assessing the risk of Type B programs, auditors should use professional judgement and criteria established in the Uniform Guidance. According to
947:
million or less in federal assistance, then any single program which expended $ 750,000 or more is considered a Type A. If a recipient expended $ 30
785:
Before determining which federal programs to examine, the auditor must first determine, based on specific criteria, whether the recipient is a
2188:
1519:
823:
Known or likely questioned costs that exceeded five percent of the total Federal awards expended for a Type A program during the audit period.
732:
2087:
1495:
1317:
1153:
955:
million) is considered a Type A program. Special consideration must be given to large loan programs in determining the Type A threshold.
817:
Internal control deficiencies that were identified as material weaknesses in the auditor's report on internal control for major programs;
315:
1814:
1798:
1659:
1643:
1618:
1582:
1566:
1032:
1005:
857:
2260:
1967:
2159:
2150:
2255:
847:
To determine which federal programs to audit under the compliance audit, federal assistance expended by the recipient (also called
300:
2124:
2071:
1332:
1142:
696:
1432:
876:
If total federal awards expended during the audit period are greater than or equal to $ 750,000 and less than or equal to $ 25
305:
1362:
614:
465:
169:
66:
2235:
2168:
Warren Ruppel (2003), Miller Not-For-Profit Organization Audits With Single Audits: 2003–2004, Aspen Law & Business,
691:, or federal awards) received for its operations. Usually performed annually, the Single Audit's objective is to provide
320:
310:
76:
1291:
372:
2183:
2173:
2130:
2081:
1149:
1113:
500:
377:
1134:
of operations and other financial information, offering insight and detailed description about the recipient itself.
1271:
325:
268:
1209:
The auditor is responsible for conducting the actual audit of the recipient in accordance with Generally Accepted
1994:
1953:
1500:
1187:
409:
362:
2285:
1210:
1281:
1240:
17:
1174:
Both the Data Collection and the Reporting Package are kept by the recipient with copies submitted to the
1012:, it must have been audited as a major program at least once in the past two years and must not have had:
811:
The auditor did not report a substantial doubt about the auditee's ability to continue as a going concern.
1250:
1175:
716:
708:
1265:
2280:
2265:
1520:"Single Audits Circular No. A-133: Audits of States, Local Governments, and Non-Profit Organizations"
1989:
1788:
OMB Circular A-133: Compliance Supplement; Part III: Compliance Requirements, pg. 3-E-1, Eligibility
2215:
1523:
607:
414:
951:
million in federal assistance, then any single program which expended $ 900,000 or more (3% Ă— $ 30
864:
requires that federal programs be categorized in two groups: Type A programs and Type B programs.
707:, non-profit organizations, and Indian Tribes. The audit is typically performed by an independent
50:
2270:
1505:
1440:"Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards"
1314:
1079:
712:
644:. The reason given is: Uniform Guidance in 2 CFR 200 Subpart F has superseded OMB Circular A-133.
248:
124:
2118:
2106:
2100:
2223:
2178:
Rhett D. Harrell (May 4, 2006), Local Government and Single Audits 2006, CCH (Wolters Kluwer),
1145:(GASB), which includes the Government-wide statements as well as the Fund Financial Statements.
692:
540:
475:
199:
2229:
1929:
OMB offers Relief for Recipients of Federal Financial Assistance Directly Impacted by COVID-19
872:
A Type A program is any federal program within a recipient that meets the following criteria.
2250:
525:
263:
129:
71:
2112:
1968:
OMB Renews Some but Not All COVID-19-Related Flexibilities for Recipients of Federal Awards
1255:
1104:
802:
752:
575:
114:
8:
1138:
939:
billion, then any program that expends more than 0.15% of total federal awards is Type A.
600:
565:
560:
535:
530:
470:
399:
357:
339:
292:
273:
204:
109:
34:
917:
billion, then any program that expends more than 0.3% of total federal awards is Type A.
646:
Please help update this article to reflect recent events or newly available information.
2086:
United States Office of Management and Budget; Office of Federal Financial Management,
1817:
1801:
1662:
1646:
1621:
1585:
1569:
1035:
1008:
860:
404:
239:
194:
2190:
The Single Audit Act: Audits of States, Local Governments and Non-Profit Organizations
1152:– This includes any notes and disclosures for the financial statements as required by
891:
million, then any program that expends more than 3% of total federal awards is Type A.
2179:
2169:
1191:
745:
585:
580:
159:
134:
1369:
by Henry Flood, Grantsmanship Center Magazine, Fall 2002, retrieved on June 30, 2006
963:
A Type B program is any single program which does not meet the Type A requirements.
2125:
Circular A-133, “Audits of States, Local Governments, and Non-Profit Organizations”
1260:
820:
A modified opinion on a major program in the auditor's report on major programs; or
367:
253:
2207:
2219:
1366:
1357:
1321:
1108:
1098:
1042:
1022:
Known or likely questioned costs exceeding 5% of total federal award expenditures
996:
989:
764:
455:
419:
209:
189:
174:
119:
104:
61:
2107:
Circular A-87, “Cost Principles for State, Local, and Indian Tribal Governments”
1286:
894:
If total federal awards expended during the audit period are greater than $ 100
460:
428:
139:
935:
If total federal awards expended during the audit period are greater than $ 20
920:
If total federal awards expended during the audit period are greater than $ 10
883:
If total federal awards expended during the audit period are greater than $ 25
751:
A Single Audit encompasses an examination of a recipient's financial records,
2244:
1245:
1201:
the Federal programs remotely with limited access to their physical office."
909:
If total federal awards expended during the audit period are greater than $ 1
688:
684:
664:
570:
433:
352:
347:
184:
1779:
OMB Circular A-133: Compliance Supplement; Part III: Compliance Requirements
1277:
Government Accountability Office investigations of the Department of Defense
851:) during one year is identified by federal program name, Federal agency and
805:
and the Schedule of Federal Expenditures (discussed later) were unmodified.
505:
244:
1972:
756:
391:
794:
following to be evaluated for each of the preceding two audit periods:
704:
495:
179:
42:
1190:
issued a memo allowing certain extensions of deadlines because of the
880:
million, then any program that expends more than $ 750,000 is Type A.
798:
Single audits have been performed on an annual basis in prior years.
2074:
Audits of States, Local Governments, and Non-Profit Organizations
278:
258:
164:
2232:("Single Audit Basics" and "Where to Get Help" is posted here.)
424:
99:
2119:
Circular A-122, “Cost Principles for Non-Profit Organizations”
1043:
Step 4: Major program determination and percentage of coverage
679:
or examination of an entity that expends $ 750,000 or more of
2101:
Circular A-21, “Cost Principles for Educational Institutions”
1949:
Memorandum to the Heads of Executive Departments and Agencies
1235:
1120:
676:
447:
229:
94:
1003:
For a Type A program to be considered low risk according to
2193:; AICPA Audit Committee Toolkit: Non-profit Organizations;
2163:
2154:
234:
2226:
federal programs for which awards are made to recipients.
2142:
1141:– This contains the financial statements required by the
2212:
1966:
Locaria, Disman; Williams, Spencer P. (June 23, 2020). "
943:
In other words, if a recipient expended a total of $ 25
715:
components. The Single Audits must be submitted to the
2276:
United States Generally Accepted Accounting Principles
1496:"Office of Federal Financial Management: Single Audit"
928:
billion, then any program that expends more than $ 30
27:
Rigorous, organization-wide audit of US organizations
902:
billion, then any program that expends more than $ 3
1103:The Single Audit requires that a recipient prepare
837:
775:
2195:American Institute of Certified Public Accountants
983:
2242:
719:along with a data collection form, Form SF-SAC.
1051:
2213:Catalog of Federal Domestic Assistance website
2129:United States Office of Management and Budget
2123:United States Office of Management and Budget
2117:United States Office of Management and Budget
2111:United States Office of Management and Budget
2105:United States Office of Management and Budget
2099:United States Office of Management and Budget
2080:United States Office of Management and Budget
2070:United States Office of Management and Budget
1943:
1941:
834:procedures to confirm the opinion is correct.
699:as to the management and use of such funds by
1923:
1921:
733:United States Office of Management and Budget
608:
1755:
1753:
1732:
1730:
1638:
1636:
1634:
1632:
1630:
1313:OMB Office of Federal Financial Management,
1064:
808:There are no material weaknesses identified.
780:
1938:
1868:
1866:
1713:
1711:
1545:
1543:
1541:
1397:
1395:
1393:
1391:
1154:US Generally Accepted Accounting Principles
842:
316:International Financial Reporting Standards
1984:
1982:
1918:
1652:
1591:
1479:
1420:
1121:Data Collection Form and Reporting Package
1073:
615:
601:
2082:OMB Circular A-133: Compliance Supplement
2021:
2001:
1882:
1843:
1823:
1807:
1791:
1750:
1727:
1688:
1668:
1627:
1575:
1204:
738:
711:(CPA) and encompasses both financial and
2046:
2044:
1902:
1863:
1708:
1559:
1538:
1388:
1979:
1404:
1372:
1353:
1351:
1349:
1326:
1143:Governmental Accounting Standards Board
1016:Material weaknesses in internal control
887:million and less than or equal to $ 100
14:
2243:
1947:Weichert, Margaret (March 19, 2020). "
1773:
1309:
1307:
1019:A modified opinion in the audit report
924:billion and less than or equal to $ 20
913:billion and less than or equal to $ 10
2041:
1782:
898:million and less than or equal to $ 1
306:Generally-accepted auditing standards
2136:
2131:Circular A-133 Compliance Supplement
1522:. September 27, 2007. Archived from
1462:"eCFR — Code of Federal Regulations"
1346:
626:
1304:
675:, is a rigorous, organization-wide
321:International Standards on Auditing
24:
2151:Federal Grants Management Handbook
2064:
1292:Working Group on Financial Markets
1092:
25:
2297:
2230:Chief Financial Officer's Council
2201:
1988:Rigas, Michael (June 18, 2020). "
1723:Criteria for Federal program risk
1150:notes to the financial statements
958:
867:
755:, federal award transactions and
378:Notes to the financial statements
2261:Government Accountability Office
2222:. It includes a list of all non-
2160:Single Audit Information Service
2144:The Single Audit Resource Center
2093:
1839:Schedule of Federal Expenditures
1736:OMB Circular A-133; Subpart E –
1717:OMB Circular A-133; Subpart E –
1694:OMB Circular A-133; Subpart E –
1674:OMB Circular A-133; Subpart E –
1549:OMB Circular A-133; Subpart E –
1378:OMB Circular A-133; Subpart B –
1272:Government Accountability Office
838:Identification of major programs
776:Compliance audit: Planning stage
631:
326:Management Accounting Principles
49:
2256:Accounting in the United States
1995:Office of Management and Budget
1960:
1954:Office of Management and Budget
1611:
1512:
1501:Office of Management and Budget
1488:
1410:OMB Circular A-133 Subpart A –
1188:Office of Management and Budget
2208:OMB Grants Management Web site
2077:, as revised on June 26, 2007.
1454:
984:Steps 2 and 3: Risk assessment
801:The auditor's opinions on the
13:
1:
2059:
1426:OMB Circular A-133 Title 1 –
1211:Government Auditing Standards
301:Generally-accepted principles
2236:IGnet's Single Audit Library
1282:Government-owned corporation
1181:
1052:Compliance audit: exam stage
7:
1898:Submission to clearinghouse
1742:Major program determination
1700:Major program determination
1680:Major program determination
1359:Understanding Single Audits
1251:Code of Federal Regulations
1228:
1176:Federal Audit Clearinghouse
966:
717:Federal Audit Clearinghouse
709:certified public accountant
10:
2302:
1266:Federal Accountability Act
1096:
1077:
987:
722:
2164:Thompson Publishing Group
2155:Thompson Publishing Group
1065:OMB compliance supplement
781:Low- or high-risk auditee
640:This article needs to be
170:Constant purchasing power
67:Constant purchasing power
1298:
1089:compliance requirement.
843:Step 1: Type A or Type B
703:such as states, cities,
501:Accounting organizations
489:People and organizations
2027:OMB A-133; Subpart E –
2007:OMB A-133; Subpart E –
1933:GRF CPAs & Advisors
1908:OMB A-133; Subpart C –
1888:OMB A-133; Subpart C –
1872:OMB A-133; Subpart E –
1849:OMB A-133; Subpart C –
1829:OMB A-133; Subpart C –
1759:OMB A-133; Subpart E –
1597:OMB A-133; Subpart E –
1186:On March 19, 2020, the
1080:Compliance requirements
1074:Compliance requirements
249:Amortization (business)
1205:Auditor responsibility
739:Purpose and components
1704:Documentation of risk
1526:on September 27, 2007
697:US federal government
373:Management discussion
2286:Political corruption
2051:The Single Audit Act
1835:Financial Statements
1256:Comprehensive income
1139:financial statements
1105:financial statements
849:federal expenditures
803:financial statements
753:financial statements
746:laws and regulations
673:OMB Uniform Guidance
340:Financial statements
293:Accounting standards
1605:; section (d)(4) –
1384:Frequency of audits
972:750,000 threshold.
683:(commonly known as
671:, Subpart F of the
566:Earnings management
536:Positive accounting
410:Double-entry system
400:Bank reconciliation
205:Revenue recognition
2218:2016-11-18 at the
1442:. 26 December 2013
1365:2006-09-20 at the
1341:Audit requirements
1333:OMB Circular A-133
1320:2009-05-07 at the
932:million is Type A.
906:million is Type A.
681:federal assistance
541:Sarbanes–Oxley Act
476:Sarbanes–Oxley Act
405:Debits and credits
240:Cost of goods sold
195:Matching principle
2137:Secondary sources
1914:Report submission
1894:Report submission
1859:Reporting Package
1855:Report submission
1508:on June 18, 2007.
1192:COVID-19 pandemic
1130:Auditor's reports
661:
660:
625:
624:
586:Two sets of books
581:Off-balance-sheet
223:Selected accounts
160:Accounting period
16:(Redirected from
2293:
2281:Public economics
2266:Government audit
2088:The Single Audit
2072:Circular A-133,
2054:
2048:
2039:
2037:Internal control
2035:; section (c) –
2025:
2019:
2015:; section (a) –
2005:
1999:
1986:
1977:
1964:
1958:
1945:
1936:
1925:
1916:
1906:
1900:
1896:; section (d) –
1886:
1880:
1870:
1861:
1857:; section (c) –
1847:
1841:
1837:; section (b) –
1827:
1821:
1820:
1811:
1805:
1804:
1795:
1789:
1786:
1780:
1777:
1771:
1767:; section (d) –
1757:
1748:
1744:; section (e) –
1734:
1725:
1715:
1706:
1702:; section (g) –
1692:
1686:
1682:; section (c) –
1672:
1666:
1665:
1656:
1650:
1649:
1640:
1625:
1624:
1615:
1609:
1595:
1589:
1588:
1579:
1573:
1572:
1563:
1557:
1547:
1536:
1535:
1533:
1531:
1516:
1510:
1509:
1504:. Archived from
1492:
1486:
1483:
1477:
1476:
1474:
1472:
1458:
1452:
1451:
1449:
1447:
1436:
1430:
1424:
1418:
1408:
1402:
1399:
1386:
1376:
1370:
1355:
1344:
1330:
1324:
1315:The Single Audit
1311:
1261:Crony capitalism
1038:
1011:
954:
950:
946:
938:
931:
927:
923:
916:
912:
905:
901:
897:
890:
886:
879:
863:
656:
653:
647:
635:
634:
627:
617:
610:
603:
53:
30:
29:
21:
2301:
2300:
2296:
2295:
2294:
2292:
2291:
2290:
2241:
2240:
2220:Wayback Machine
2204:
2139:
2096:
2067:
2065:Primary sources
2062:
2057:
2049:
2042:
2026:
2022:
2006:
2002:
1987:
1980:
1965:
1961:
1946:
1939:
1926:
1919:
1907:
1903:
1887:
1883:
1878:Audit reporting
1871:
1864:
1848:
1844:
1828:
1824:
1813:
1812:
1808:
1797:
1796:
1792:
1787:
1783:
1778:
1774:
1758:
1751:
1735:
1728:
1716:
1709:
1693:
1689:
1673:
1669:
1658:
1657:
1653:
1642:
1641:
1628:
1617:
1616:
1612:
1596:
1592:
1581:
1580:
1576:
1565:
1564:
1560:
1548:
1539:
1529:
1527:
1518:
1517:
1513:
1494:
1493:
1489:
1484:
1480:
1470:
1468:
1460:
1459:
1455:
1445:
1443:
1438:
1437:
1433:
1425:
1421:
1409:
1405:
1400:
1389:
1377:
1373:
1367:Wayback Machine
1356:
1347:
1331:
1327:
1322:Wayback Machine
1312:
1305:
1301:
1296:
1231:
1207:
1184:
1123:
1109:financial audit
1101:
1099:Financial audit
1095:
1093:Financial audit
1082:
1076:
1067:
1054:
1045:
1031:
1004:
997:risk assessment
992:
990:Risk assessment
986:
969:
961:
952:
948:
944:
936:
929:
925:
921:
914:
910:
903:
899:
895:
888:
884:
877:
870:
856:
845:
840:
783:
778:
765:financial audit
741:
725:
657:
651:
648:
645:
636:
632:
621:
592:
591:
590:
555:
547:
546:
545:
520:
512:
511:
510:
490:
482:
481:
480:
450:
440:
439:
438:
394:
384:
383:
382:
342:
332:
331:
330:
295:
285:
284:
283:
224:
216:
215:
214:
210:Unit of account
190:Historical cost
175:Economic entity
154:
146:
145:
144:
89:
81:
62:Historical cost
28:
23:
22:
15:
12:
11:
5:
2299:
2289:
2288:
2283:
2278:
2273:
2271:Public finance
2268:
2263:
2258:
2253:
2239:
2238:
2233:
2227:
2210:
2203:
2202:External links
2200:
2199:
2198:
2186:
2176:
2166:
2157:
2148:
2138:
2135:
2134:
2133:
2127:
2121:
2115:
2109:
2103:
2095:
2092:
2091:
2090:
2084:
2078:
2066:
2063:
2061:
2058:
2056:
2055:
2040:
2033:Scope of audit
2020:
2013:Scope of audit
2000:
1978:
1959:
1937:
1917:
1901:
1881:
1862:
1842:
1822:
1806:
1790:
1781:
1772:
1765:Scope of audit
1749:
1726:
1707:
1687:
1667:
1651:
1626:
1610:
1603:Scope of audit
1590:
1574:
1558:
1555:Scope of Audit
1537:
1511:
1487:
1478:
1453:
1431:
1419:
1403:
1387:
1371:
1345:
1335:; Subpart B –
1325:
1302:
1300:
1297:
1295:
1294:
1289:
1287:Permanent fund
1284:
1279:
1274:
1269:
1263:
1258:
1253:
1248:
1243:
1238:
1232:
1230:
1227:
1206:
1203:
1183:
1180:
1172:
1171:
1168:
1164:
1161:
1157:
1146:
1135:
1131:
1122:
1119:
1097:Main article:
1094:
1091:
1078:Main article:
1075:
1072:
1066:
1063:
1053:
1050:
1044:
1041:
1024:
1023:
1020:
1017:
988:Main article:
985:
982:
968:
965:
960:
959:Type B program
957:
941:
940:
933:
918:
907:
892:
881:
869:
868:Type A program
866:
844:
841:
839:
836:
827:
826:
825:
824:
821:
818:
812:
809:
806:
799:
782:
779:
777:
774:
740:
737:
724:
721:
689:federal grants
659:
658:
639:
637:
630:
623:
622:
620:
619:
612:
605:
597:
594:
593:
589:
588:
583:
578:
573:
568:
563:
557:
556:
553:
552:
549:
548:
544:
543:
538:
533:
528:
522:
521:
518:
517:
514:
513:
509:
508:
503:
498:
492:
491:
488:
487:
484:
483:
479:
478:
473:
468:
463:
458:
452:
451:
446:
445:
442:
441:
437:
436:
431:
429:General ledger
422:
417:
412:
407:
402:
396:
395:
390:
389:
386:
385:
381:
380:
375:
370:
365:
360:
355:
350:
344:
343:
338:
337:
334:
333:
329:
328:
323:
318:
313:
308:
303:
297:
296:
291:
290:
287:
286:
282:
281:
276:
271:
266:
261:
256:
251:
242:
237:
232:
226:
225:
222:
221:
218:
217:
213:
212:
207:
202:
197:
192:
187:
182:
177:
172:
167:
162:
156:
155:
152:
151:
148:
147:
143:
142:
137:
132:
127:
122:
117:
112:
107:
102:
97:
91:
90:
87:
86:
83:
82:
80:
79:
74:
69:
64:
58:
55:
54:
46:
45:
39:
38:
26:
9:
6:
4:
3:
2:
2298:
2287:
2284:
2282:
2279:
2277:
2274:
2272:
2269:
2267:
2264:
2262:
2259:
2257:
2254:
2252:
2249:
2248:
2246:
2237:
2234:
2231:
2228:
2225:
2221:
2217:
2214:
2211:
2209:
2206:
2205:
2196:
2192:
2191:
2187:
2185:
2184:0-8080-9023-2
2181:
2177:
2175:
2174:0-7355-3741-0
2171:
2167:
2165:
2161:
2158:
2156:
2152:
2149:
2146:
2145:
2141:
2140:
2132:
2128:
2126:
2122:
2120:
2116:
2114:
2110:
2108:
2104:
2102:
2098:
2097:
2094:OMB circulars
2089:
2085:
2083:
2079:
2076:
2075:
2069:
2068:
2052:
2047:
2045:
2038:
2034:
2031:; §___.500 –
2030:
2024:
2018:
2014:
2011:; §___.500 –
2010:
2004:
1997:
1996:
1991:
1985:
1983:
1975:
1974:
1969:
1963:
1956:
1955:
1950:
1944:
1942:
1935:. March 2020.
1934:
1930:
1924:
1922:
1915:
1912:; §___.320 –
1911:
1905:
1899:
1895:
1892:; §___.320 –
1891:
1885:
1879:
1876:; §___.505 –
1875:
1869:
1867:
1860:
1856:
1853:; §___.320 –
1852:
1846:
1840:
1836:
1833:; §___.310 –
1832:
1826:
1819:
1816:
1810:
1803:
1800:
1794:
1785:
1776:
1770:
1766:
1763:; §___.500 –
1762:
1756:
1754:
1747:
1743:
1740:; §___.520 –
1739:
1733:
1731:
1724:
1721:; §___.525 –
1720:
1714:
1712:
1705:
1701:
1698:; §___.520 –
1697:
1691:
1685:
1681:
1678:; §___.520 –
1677:
1671:
1664:
1661:
1655:
1648:
1645:
1639:
1637:
1635:
1633:
1631:
1623:
1620:
1614:
1608:
1604:
1601:; §___.500 –
1600:
1594:
1587:
1584:
1578:
1571:
1568:
1562:
1556:
1553:; §___.500 –
1552:
1546:
1544:
1542:
1525:
1521:
1515:
1507:
1503:
1502:
1497:
1491:
1482:
1467:
1463:
1457:
1441:
1435:
1429:
1423:
1417:
1414:; §___.100 –
1413:
1407:
1398:
1396:
1394:
1392:
1385:
1382:; §___.220 –
1381:
1375:
1368:
1364:
1361:
1360:
1354:
1352:
1350:
1342:
1339:; §___.200 –
1338:
1334:
1329:
1323:
1319:
1316:
1310:
1308:
1303:
1293:
1290:
1288:
1285:
1283:
1280:
1278:
1275:
1273:
1270:
1267:
1264:
1262:
1259:
1257:
1254:
1252:
1249:
1247:
1246:Budget theory
1244:
1242:
1239:
1237:
1234:
1233:
1226:
1222:
1218:
1214:
1212:
1202:
1198:
1195:
1193:
1189:
1179:
1177:
1169:
1165:
1162:
1158:
1155:
1151:
1147:
1144:
1140:
1136:
1132:
1129:
1128:
1127:
1118:
1115:
1110:
1106:
1100:
1090:
1088:
1081:
1071:
1062:
1058:
1049:
1040:
1037:
1034:
1028:
1021:
1018:
1015:
1014:
1013:
1010:
1007:
1001:
998:
991:
981:
977:
973:
964:
956:
934:
919:
908:
893:
882:
875:
874:
873:
865:
862:
859:
854:
850:
835:
831:
822:
819:
816:
815:
813:
810:
807:
804:
800:
797:
796:
795:
792:
789:auditee or a
788:
773:
769:
766:
760:
758:
754:
749:
747:
736:
734:
731:In 1985, the
729:
720:
718:
714:
710:
706:
702:
698:
694:
690:
686:
685:federal funds
682:
678:
674:
670:
666:
665:United States
655:
652:February 2018
643:
638:
629:
628:
618:
613:
611:
606:
604:
599:
598:
596:
595:
587:
584:
582:
579:
577:
574:
572:
571:Error account
569:
567:
564:
562:
559:
558:
551:
550:
542:
539:
537:
534:
532:
529:
527:
524:
523:
516:
515:
507:
504:
502:
499:
497:
494:
493:
486:
485:
477:
474:
472:
469:
467:
464:
462:
459:
457:
454:
453:
449:
444:
443:
435:
434:Trial balance
432:
430:
426:
423:
421:
418:
416:
415:FIFO and LIFO
413:
411:
408:
406:
403:
401:
398:
397:
393:
388:
387:
379:
376:
374:
371:
369:
366:
364:
361:
359:
356:
354:
353:Balance sheet
351:
349:
348:Annual report
346:
345:
341:
336:
335:
327:
324:
322:
319:
317:
314:
312:
309:
307:
304:
302:
299:
298:
294:
289:
288:
280:
277:
275:
272:
270:
267:
265:
262:
260:
257:
255:
252:
250:
246:
243:
241:
238:
236:
233:
231:
228:
227:
220:
219:
211:
208:
206:
203:
201:
198:
196:
193:
191:
188:
186:
185:Going concern
183:
181:
178:
176:
173:
171:
168:
166:
163:
161:
158:
157:
150:
149:
141:
138:
136:
133:
131:
128:
126:
123:
121:
118:
116:
113:
111:
108:
106:
103:
101:
98:
96:
93:
92:
85:
84:
78:
75:
73:
70:
68:
65:
63:
60:
59:
57:
56:
52:
48:
47:
44:
41:
40:
36:
32:
31:
19:
2251:Single Audit
2189:
2143:
2073:
2050:
2036:
2032:
2028:
2023:
2016:
2012:
2008:
2003:
1993:
1971:
1962:
1952:
1932:
1913:
1909:
1904:
1897:
1893:
1889:
1884:
1877:
1873:
1858:
1854:
1850:
1845:
1838:
1834:
1830:
1825:
1809:
1793:
1784:
1775:
1768:
1764:
1760:
1745:
1741:
1737:
1722:
1718:
1703:
1699:
1695:
1690:
1683:
1679:
1675:
1670:
1654:
1613:
1606:
1602:
1598:
1593:
1577:
1561:
1554:
1550:
1530:September 4,
1528:. Retrieved
1524:the original
1514:
1506:the original
1499:
1490:
1481:
1469:. Retrieved
1466:www.ecfr.gov
1465:
1456:
1444:. Retrieved
1434:
1427:
1422:
1415:
1411:
1406:
1383:
1379:
1374:
1358:
1340:
1336:
1328:
1223:
1219:
1215:
1208:
1199:
1196:
1185:
1173:
1148:Recipient's
1137:Recipient's
1124:
1102:
1086:
1083:
1068:
1059:
1055:
1046:
1029:
1025:
1002:
993:
978:
974:
970:
962:
942:
871:
848:
846:
832:
828:
790:
786:
784:
770:
761:
757:expenditures
750:
742:
730:
726:
705:universities
672:
669:Single Audit
668:
662:
649:
641:
506:Luca Pacioli
427: /
247: /
245:Depreciation
153:Key concepts
125:Governmental
18:Single audit
1973:Venable LLP
1471:4 September
1446:4 September
1241:Attestation
1087:Eligibility
853:CFDA number
519:Development
496:Accountants
392:Bookkeeping
311:Convergence
269:Liabilities
200:Materiality
88:Major types
2245:Categories
2224:classified
2060:References
1815:2 CFR
1799:2 CFR
1769:Compliance
1660:2 CFR
1644:2 CFR
1619:2 CFR
1607:Compliance
1583:2 CFR
1567:2 CFR
1033:2 CFR
1006:2 CFR
858:2 CFR
713:compliance
701:recipients
554:Misconduct
180:Fair value
130:Management
72:Management
43:Accounting
1182:Extension
787:high-risk
693:assurance
576:Hollywood
456:Financial
358:Cash-flow
115:Financial
2216:Archived
2029:Auditors
2009:Auditors
1910:Auditees
1890:Auditees
1874:Auditors
1851:Auditees
1831:Auditees
1761:Auditors
1738:Auditors
1719:Auditors
1696:Auditors
1676:Auditors
1599:Auditors
1551:Auditors
1363:Archived
1318:Archived
1268:(Canada)
1229:See also
967:Examples
791:low-risk
561:Creative
531:Research
461:Internal
448:Auditing
264:Goodwill
259:Expenses
110:Forensic
35:a series
33:Part of
2197:(AICPA)
2053:, AICPA
2017:General
1818:200.514
1802:200.510
1663:200.518
1647:200.518
1622:200.501
1586:200.518
1570:200.520
1428:Purpose
1416:Purpose
1412:General
1156:(GAAP).
1036:200.518
1009:200.518
861:200.518
723:History
695:to the
663:In the
642:updated
526:History
420:Journal
279:Revenue
165:Accrual
2182:
2172:
1746:Step 4
1684:Step 2
1380:Audits
1337:Audits
1160:notes.
953:
949:
945:
937:
930:
926:
922:
915:
911:
904:
900:
896:
889:
885:
878:
667:, the
471:Report
425:Ledger
368:Income
363:Equity
274:Profit
254:Equity
230:Assets
135:Social
100:Budget
1299:Notes
1236:Audit
1114:notes
677:audit
466:Firms
95:Audit
2180:ISBN
2170:ISBN
1532:2018
1473:2018
1448:2018
235:Cash
120:Fund
105:Cost
1992:".
1970:".
1951:".
1931:".
140:Tax
77:Tax
2247::
2162:,
2153:,
2043:^
1981:^
1940:^
1920:^
1865:^
1752:^
1729:^
1710:^
1629:^
1540:^
1498:.
1464:.
1390:^
1348:^
1306:^
687:,
37:on
2147:;
1998:.
1976:.
1957:.
1927:"
1534:.
1475:.
1450:.
1343:,
654:)
650:(
616:e
609:t
602:v
20:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
