Single Audits
Navigating Single Audit Requirements
Federal funding plays an important role in supporting your organization’s work. It can also come with additional audit requirements, including a Single Audit. This is most common for nonprofits, state and local governments, and colleges and universities. Whether you need one generally depends on how much you spend from federal awards during your fiscal year, including federal funds received through pass-through entities.
For fiscal years beginning on or after October 1, 2024, revisions to the Uniform Guidance increased the Single Audit threshold from $750,000 to $1 million. If you meet that threshold, a Single Audit looks at your financial statements, compliance, and internal controls related to major federal programs. The auditor’s reports become part of the reporting package that is publicly available to funders and other stakeholders.
The Uniform Guidance has changed in other ways, too, and your organization may be working with awards subject to different requirements during the transition. Having a team that knows the Single Audit process can make it easier to understand what applies and what comes next.
Simplify the Single Audit process with an experienced team by your side.
Experience. The Difference.
Fuel Your Progress
With every audit and assurance engagement, we prioritize clear communication, technical accuracy, and a collaborative process that continues year-round. Our team brings deep industry knowledge and practical insight to help you meet requirements, manage risk, and gain a more complete view of your financial position. Let’s build an audit experience that adds value, long after the report is delivered.
Industry Involvement
Single Audit Frequently Asked Questions
Nonprofits, state and local governments, colleges and universities, and other organizations generally need a Single Audit if they spend $1 million or more in federal awards during their fiscal year. Federal funding received through other pass-through entities count toward the threshold too.
A Single Audit includes an independent audit of your financial statements and SEFA, along with testing of internal controls and compliance for major federal programs. The auditor’s reports are then included in the reporting package your organization submits to the Federal Audit Clearinghouse (FAC).
If your organization spends less than $1 million in federal awards during the fiscal year, you generally won’t need a Single Audit. You still need to follow the requirements of your federal awards, however, and other audit requirements may apply.
The reporting package must be submitted to and accepted by the FAC the earlier of 30 calendar days after the auditee receives the auditor’s report or nine months after the end of the audit period.
Single Audit Solutions
How Can We Help?
Navigate federal funding requirements with a team that understands the Single Audit process from preparation through final reporting.
Single Audit Services
- Single Audits under the Uniform Guidance
- Financial statement and SEFA audit procedures
- Major program compliance and internal control testing
- Required reporting and FAC support
Related Services
- Yellow Book Audits
- Audit, Review & Compilation
