(2) Findings relating to the financial statements which are required to be reported in accordance with GAGAS. The single audit requirement applies to A. This part sets forth standards for obtaining consistency and uniformity among Federal agencies for the audit of non-Federal entities expending Federal awards. (6) Include notes that describe that significant accounting policies used in preparing the schedule, and note whether or not the auditee elected to use the 10% de minimis cost rate as covered in 200.414. (2) Provide technical advice and counsel to auditees and auditors as requested. The cognizant agency for audit must: (i) Provide technical audit advice and liaison assistance to auditees and auditors. (iv) Advise the community of independent auditors of any noteworthy or important factual trends related to the quality of audits stemming from quality control reviews. In cases of continued inability or unwillingness to have an audit conducted in accordance with this part, Federal agencies and pass-through entities must take appropriate action as provided in 200.339. If you would like to comment on the current content, please use the 'Content Feedback' button below for instructions on contacting the issuing agency. The Single Audit Act of 1984 standardized audits for states, local and tribal (f) Data collection form. WebRequirement to Have a Single Audit Single Audit Act State Audit BUY AMERICA REQUIREMENT (Applies only to Federally Funded Highway State Audits Medical Reports Mutual Fund Entity Name Reference ID Entity Type State Auditor Treatment of Unallowable Costs Previously Submitted for Payment Searchable Whois Related to State Single Audit incorporated into a contract. Builds on the concept of developing a central location for non-federal entities to submit all information electronically. Therefore, the auditor is only required to perform risk assessments on Type B programs that exceed twenty-five percent (0.25) of the Type A threshold determined in Step 1 (paragraph (b) of this section). (4) The auditor's report(s) may be in the form of either combined or separate reports and may be organized differently from the manner presented in this section. - Office of Management and Budget Guidance for Grants and Agreements, - Office of Management and Budget Guidance, - Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, https://www.ecfr.gov/current/title-2/subtitle-A/chapter-II/part-200/subpart-F. (c) Use of Federal auditors. 200.502 Basis for determining Federal awards expended. A cluster of programs is treated as one program and the value of Federal awards expended under a loan program is determined as described in 200.502. Eliminates unnecessary duplication in audit and financial reporting (i.e. 200.504 Frequency of audits. When the direct funding represents less than 25 percent of the total expenditures (as direct and subawards) by the non-Federal entity, then the Federal agency with the predominant amount of total funding is the designated cognizant agency for audit. (a) Audit required. Also, as part of the risk analysis, the auditor may wish to discuss a particular Federal program with auditee management and the Federal agency or pass-through entity. (b) Prepare appropriate financial statements, including the schedule of expenditures of Federal awards in accordance with 200.510. Except for audit follow-up, the auditor is not required under this part to perform audit procedures for such a Federal program; therefore, the auditor will normally not find questioned costs for a program that is not audited as a major program. (c) A report on compliance for each major program and a report on internal control over compliance. (2) Prior audit findings would indicate higher risk, particularly when the situations identified in the audit findings could have a significant impact on a Federal program or have not been corrected. [78 FR 78608, Dec. 26, 2013, as amended at 79 FR 75887, Dec. 19, 2014; 85 FR 49574, Aug. 13, 2020]. the hierarchy of the document. The summary schedule must also include audit findings reported in the prior audit's summary schedule of prior audit findings except audit findings listed as corrected in accordance with paragraph (b)(1) of this section, or no longer valid or not warranting further action in accordance with paragraph (b)(3) of this section. The balance of loans for previous audit periods is not included as Federal awards expended because the lender accounts for the prior balances. The single audit requirement kicks in when a non-federal entity expends $750,000 or more in federal funds in one year. Audited in at least one of the two most recent audit periods as a major program. Audit documentation must be made available upon request to the cognizant or oversight agency for audit or its designee, cognizant agency for indirect cost, a Federal agency, or GAO at the completion of the audit, as part of a quality review, to resolve audit findings, or to carry out oversight responsibilities consistent with the purposes of this part. The auditee must also prepare a schedule of expenditures of Federal awards for the period covered by the auditee's financial statements which must include the total Federal awards expended as determined in accordance with 200.502. The FAC operates on behalf of the OMB. If you need assistance accessing an accessible version of this document, please reach out to the guidance@hhs.gov. B. (4) Provide OMB annual updates to the compliance supplement and work with OMB to ensure that the compliance supplement focuses the auditor to test the compliance requirements most likely to cause improper payments, fraud, waste, abuse or generate audit finding for which the Federal awarding agency will take sanctions. (1) In addition to the requirements of GAGAS, the auditor must determine whether the auditee has complied with Federal statutes, regulations, and the terms and conditions of Federal awards that may have a direct and material effect on each of its major programs. At a minimum, the schedule must: (1) List individual Federal programs by Federal agency. WebThe Single Audit Act was enacted to standardize the requirements for auditing federal programs. 1 CFR 1.1 If the program is to be audited as a major program based upon this Federal awarding agency request, and the Federal awarding agency agrees to pay the full incremental costs, then the auditee must have the program audited as a major program. (h) For-profit subrecipient. In procuring audit services, the auditee must follow the procurement standards prescribed by the Procurement Standards in 200.317 through 200.327 of subpart D of this part or the FAR (48 CFR part 42), as applicable. The process in paragraphs (b) through (h) of this section must be followed. Choosing an item from If you have comments or suggestions on how to improve the www.ecfr.gov website or have questions about using www.ecfr.gov, please choose the 'Website Feedback' button below. Total views 100+ DeVry University, Keller Graduate School of Management. A Federal awarding agency may request that an auditee have a particular Federal program audited as a major program in lieu of the Federal awarding agency conducting or arranging for the additional audits. (b) Single audit. Management of an auditee that owns or operates a FFRDC may elect to treat the FFRDC as a separate entity for purposes of this part. Otherwise, the auditor must audit the major programs identified in Step 4 (paragraphs (e)(1) and (2) of this section) and such additional Federal programs with Federal awards expended that, in aggregate, all major programs encompass at least 40 percent (0.40) of total Federal awards expended. Auditees and auditors must ensure that their respective parts of the reporting package do not include protected personally identifiable information. (d) Exemption when Federal awards expended are less than $750,000. (6) Provide OMB with the name of a key management single audit liaison who must: (i) Serve as the Federal awarding agency's management point of contact for the single audit process both within and outside the Federal Government. Type A programs are defined as Federal programs with Federal awards expended during the audit period exceeding the levels outlined in the table in this paragraph (b)(1): (2) Federal programs not labeled Type A under paragraph (b)(1) of this section must be labeled Type B programs. Unless restricted by Federal law or regulation, the auditee must make report copies available for public inspection. Washington, D.C. 20201 WebThe Single Audit provides the Federal government with assurance that these recipients comply with such directives by having an independent external source (the CPA) report (vii) Ensure the Federal awarding agency provides annual updates of the compliance supplement to OMB. Uses stakeholder feedback to inform changes. For those Federal programs not covered in the compliance supplement, the auditor must follow the compliance supplement's guidance for programs not included in the supplement. (c) The provisions of this part do not limit the authority of Federal agencies to conduct, or arrange for the conduct of, audits and evaluations of Federal awards, nor limit the authority of any Federal agency Inspector General or other Federal official. Since the Federal Government is at risk for loans until the debt is repaid, the following guidelines must be used to calculate the value of Federal awards expended under loan programs, except as noted in paragraphs (c) and (d) of this section: (1) Value of new loans made or received during the audit period; plus, (2) Beginning of the audit period balance of loans from previous years for which the Federal Government imposes continuing compliance requirements; plus. The eCFR is displayed with paragraphs split and indented to follow (1) Oversight exercised by Federal agencies or pass-through entities could be used to assess risk. This web site is designed for the current versions of The auditee must also prepare a corrective action plan for current year audit findings. An auditee who does not have a designated cognizant agency for audit will be under the general oversight of the Federal agency determined in accordance with 200.1 oversight agency for audit. The reporting package must include the: (1) Financial statements and schedule of expenditures of Federal awards discussed in 200.510(a) and (b), respectively; (2) Summary schedule of prior audit findings discussed in 200.511(b); (3) Auditor's report(s) discussed in 200.515; and. (a) A state, local government, or Indian tribe that is required by constitution or statute, in effect on January 1, 1987, to undergo its audits less frequently than annually, is permitted to undergo its audits pursuant to this part biennially. When a current program-specific audit guide is available, the auditor must follow GAGAS and the guide when performing a program-specific audit. WebA Single Audit is an audit of compliance with compliance requirements defined by the Office of Management and Budget every year in the OMB Compliance Supplement. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. (2) The principal compliance requirements applicable to most Federal programs and the compliance requirements of the largest Federal programs are included in the compliance supplement. (a) General. WebThe Single Audit, typically performed annually, is intended to ensure an organization is using its federal funds correctly and is in compliance with all applicable (1) When a current program-specific audit guide is not available, the auditee and auditor must have basically the same responsibilities for the Federal program as they would have for an audit of a major program in a single audit. 2 CFR part 200 Subpart F-Audit Requirements. To sign up for updates or to access your subscriber preferences, please enter your contact information below. Cooperate and provide support to the Federal agency designated by OMB to lead a governmentwide project to determine the quality of single audits by providing a reliable estimate of the extent that single audits conform to applicable requirements, standards, and procedures; and to make recommendations to address noted audit quality issues, including recommendations for any changes to applicable requirements, standards and procedures indicated by the results of the project. Web20. A single audit is the default requirement. Within 30 calendar days after any reassignment, both the old and the new oversight agency for audit must provide notice of the change to the FAC, the auditee, and, if known, the auditor. (b) The auditor's opinion on whether the financial statements were prepared in accordance with GAAP, or a basis of accounting required by state law, and the auditor's in relation to opinion on the schedule of expenditures of Federal awards were unmodified. Has your state, local government or NPO expended federal awards over the threshold for a single audit? (1) The audit must be completed and the data collection form described in paragraph (b) of this section and reporting package described in paragraph (c) of this section must be submitted within the earlier of 30 calendar days after receipt of the auditor's report(s), or nine months after the end of the audit period. A statement of the effect or potential effect should provide a clear, logical link to establish the impact or potential impact of the difference between the condition and the criteria. (i) Audit findings (e.g., internal control findings, compliance findings, questioned costs, or fraud) that relate to the same issue must be presented as a single audit finding. The Uniform Guidance: Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) has been issued by the Office of Management and Budget (OMB). For the purposes of this paragraph a program is only considered to be a Federal program providing loans if the value of Federal awards expended for loans within the program comprises fifty percent or more of the total Federal awards expended for the program. c. (2) The auditee must prepare the financial statement(s) for the Federal program that includes, at a minimum, a schedule of expenditures of Federal awards for the program and notes that describe the significant accounting policies used in preparing the schedule, a summary schedule of prior audit findings consistent with the requirements of 200.511(b), and a corrective action plan consistent with the requirements of 200.511(c). 49 CFR 172.101 200.520 Criteria for a low-risk auditee. For example, a new Federal program with new or interim regulations may have higher risk than an established program with time-tested regulations. Per 2 CFR 200.245 (a)(2), grantees who are not required to have an audit conducted and elect to do so cannot charge audit costs to their federal awards. If you work for a Federal agency, use this drafting Pages 13. (c) Promptly follow up and take corrective action on audit findings, including preparation of a summary schedule of prior audit findings and a corrective action plan in accordance with 200.511(b) and (c), respectively. As part of this responsibility, the auditee must prepare a summary schedule of prior audit findings. Notably, OMB also released guidance earlier this year allowing counties that received less than $10 million in Recovery Funds and spent less than $750,000 of non-ARPA federal in a single fiscal year to opt for attestation instead of audit under the Single Audit Act. (e) Federally Funded Research and Development Centers (FFRDC). Where appropriate, instances identified must be related to the universe and the number of cases examined and be quantified in terms of dollar value. If an NFP receives and spends a minimum amount from the federal government in a given year, it must conduct a single audit for that year. (ii) Held accountable to improve the effectiveness of the single audit process based upon metrics as described in paragraph (c)(3)(iv) of this section. Although the Single Auditrequirement applies to most of the CARES Act funds and programs, you should review the Assistance Listing, available at The Office of the Federal Register publishes documents on behalf of Federal agencies but does not have any authority over their programs. The Single Audit requirements, which require a compliance audit in addition to a financial statement audit, apply to state and local governments, Indian tribes, [78 FR 78608, Dec. 26, 2013, as amended at 85 FR 49575, Aug. 13, 2020]. It is not an official legal edition of the CFR. The trigger for a Single Audit is when a nonprofit receives money from the federal government and expends more than $750,000 in a single year. The summary schedule of prior audit findings must report the status of all audit findings included in the prior audit's schedule of findings and questioned costs. The provisions of this part do not authorize any non-Federal entity to constrain, in any manner, such Federal agency from carrying out or arranging for such additional audits, except that the Federal agency must plan such audits to not be duplicative of other audits of Federal awards. [78 FR 78608, Dec. 26, 2013, as amended at 85 FR 49574, Aug. 13, 2020]. Organization and Purpose If the auditee meets the criteria in 200.520, the auditor need only audit the major programs identified in Step 4 (paragraphs (e)(1) and (2) of this section) and such additional Federal programs with Federal awards expended that, in aggregate, all major programs encompass at least 20 percent (0.20) of total Federal awards expended. (3) Federal programs not recently audited as major programs may be of higher risk than Federal programs recently audited as major programs without audit findings. In evaluating the effect of questioned costs on the opinion on compliance, the auditor considers the best estimate of total costs questioned (likely questioned costs), not just the questioned costs specifically identified (known questioned costs). (2) The auditor is not expected to perform risk assessments on relatively small Federal programs. (2) For Federal awards received as a subrecipient, the name of the pass-through entity and identifying number assigned by the pass-through entity must be included. For example, requirements that may be applicable under the FAR or CAS and the terms and conditions of a cost-reimbursement contract may include additional applicable audits to be conducted or arranged for by Federal agencies. The summary schedule of prior audit findings and the corrective action plan must include the reference numbers the auditor assigns to audit findings under 200.516(c). (4) Include the total amount provided to subrecipients from each Federal program. WebThe single audit requirement applies to: A. If the amount of the EIDL loan in combination with other federal funds exceeds $750,000 in their fiscal year, the nonprofit must complete a Single Audit. (i) Medicaid. They are meant to ensure that federal funds are spent in accordance with compliance requirements, and unfortunately, these requirements are typically different (3) Follow-up on audit findings to ensure that the recipient takes appropriate and timely corrective action. (c) Corrective action plan. When loans are made to students of an IHE but the IHE does not make the loans, then only the value of loans made during the audit period must be considered Federal awards expended in that audit period. 200.503 Relation to other audit requirements. (b) Financial statements. The site is secure. (viii) Support the Federal awarding agency's single audit accountable official's mission. The Uniform Grant Guidance does not apply to grant awards made before December 26, 2014. (10) Views of responsible officials of the auditee. The agreement with the for-profit subrecipient must describe applicable compliance requirements and the for-profit subrecipient's compliance responsibility. A non-Federal entity expending more than $50 million a year in Federal awards must have a cognizant agency for audit. result, it may not include the most recent changes applied to the CFR. (iv) Promote the Federal awarding agency's use of cooperative audit resolution mechanisms. You can learn more about the process [78 FR 78608, Dec. 26, 2013, as amended at 79 FR 75887, Dec. 19, 2014]. The corrective action plan and summary schedule of prior audit findings must include findings relating to the financial statements which are required to be reported in accordance with GAGAS. citations and headings (c) Oversight exercised by Federal agencies and pass-through entities. (e) Audit follow-up. A non-Federal entity that expends $750,000 or more during the non-Federal entity's fiscal year in Federal awards must have a single audit conducted in accordance with 200.514 except when it elects to have a program-specific audit conducted in accordance with paragraph (c) of this section. This depends on the type of Federal financial assistance being provided by the Federal agency through the CARES Act. However, the auditee is responsible for ensuring compliance for procurement transactions which are structured such that the contractor is responsible for program compliance or the contractor's records must be reviewed to determine program compliance. In some cases, a program-specific audit guide will be available to provide specific guidance to the auditor with respect to internal controls, compliance requirements, suggested audit procedures, and audit reporting requirements. This single audit WebSingle Audit Determination. As required in 200.512(b)(3), the auditor must complete and sign specified sections of the data collection form. Webjurisdiction was subject to the federal single audit requirements for the current, or the immediately preceding, fiscal year,1 you must attach proof of submission2 of your audit reporting package to the FAC website. The .gov means its official. The auditor must perform audit follow-up procedures regardless of whether a prior audit finding relates to a major program in the current year. (iii) Known or likely questioned costs that exceed five percent of the total Federal awards expended for the program. (d) Inherent risk of the Federal program. (c) Reference numbers. (c) Reporting package. Prior to commencing such an audit, the Federal agency or pass-through entity must review the FAC for recent audits submitted by the non-Federal entity, and to the extent such audits meet a Federal agency or pass-through entity's needs, the Federal agency or pass-through entity must rely upon and use such audits. The Federal awarding agency must perform the following for the Federal awards it makes (See also the requirements of 200.211): (1) Ensure that audits are completed and reports are received in a timely manner and in accordance with the requirements of this part. including individuals with disabilities. The auditor must determine whether the financial statements of the auditee are presented fairly in all material respects in accordance with generally accepted accounting principles. 200.519 Criteria for Federal program risk. C. Audits following the Single Audit Act of 1984 (with 1996 Amendments) and the revised OMBCircular A-133. (1) When audit findings were fully corrected, the summary schedule need only list the audit findings and state that corrective action was taken. 3515. WebDiscussion of potential single audit implications and other related guidance expected from OMB 3. A non-Federal entity that expends less than $750,000 during the non-Federal entity's fiscal year in Federal awards is exempt from Federal audit requirements for that year, except as noted in 200.503, but records must be available for review or audit by appropriate officials of the Federal agency, pass-through entity, and Government Accountability Office (GAO). The ACF grantees are responsible for submitting their Single Audit Reports and the Data Collections Forms (SF-FAC) electronically to theto the Federal Audit ClearinghouseVisit disclaimer page (FAC) within the earlier of 30 days after receipt or nine months after the FYs end of the audit period. (5) The circumstances concerning why the auditor's report on compliance for each major program is other than an unmodified opinion, unless such circumstances are otherwise reported as audit findings in the schedule of findings and questioned costs for Federal awards. The auditor must also determine whether the schedule of expenditures of Federal awards is stated fairly in all material respects in relation to the auditee's financial statements as a whole. full text search results Where practical, audit findings should be organized by Federal agency or pass-through entity.

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