Single Audit Services

Uniform Guidance & Federal Grant Compliance

BMK360CPA provides Single Audit services for nonprofit organizations, government entities, and other organizations that expend federal awards and are subject to the requirements of 2 CFR Part 200, Uniform Guidance.

Our audit approach combines financial statement auditing, federal award compliance testing, internal control evaluation, and major program testing to help organizations meet federal audit requirements and strengthen accountability over federal funds.

Do You Need a Single Audit?

Organizations that expend $1 million or more in federal awards during a fiscal year are generally required to undergo a Single Audit under the Uniform Guidance (2 CFR Part 200).

Effective for fiscal years beginning on or after October 1, 2024, the federal expenditure threshold increased from $750,000 to $1 million.

Federal awards may count toward the threshold whether the funds are received directly from a federal agency or indirectly through a pass-through entity, such as a state or local government.

Organizations receiving federal funding should carefully identify and track federal expenditures throughout the year and maintain an accurate Schedule of Expenditures of Federal Awards (SEFA) to determine whether the Single Audit requirement applies.

Common Single Audit Risks CFOs Should Watch

A Single Audit problem rarely begins when the auditors arrive. It often starts months earlier—with an unreconciled SEFA, weak controls, unsupported expenditures, or incomplete subrecipient monitoring.

Before your next Single Audit, ask:

  • Does the SEFA reconcile to the general ledger?
  • Are major programs properly identified and assessed?
  • Are compliance controls actually operating—not just documented?
  • Can every significant federal expenditure be supported?
  • Are subrecipients being properly monitored?

Unresolved issues can lead to audit findings, questioned costs, and additional management attention when time is already limited.

BMK360CPA helps organizations identify Single Audit risks early and navigate federal audit requirements with confidence.

Our Single Audit Approach

Planning & Risk Assessment → SEFA Review → Major Program Determination → Compliance Testing → Reporting & Federal Audit Clearinghouse

Frequently Asked Questions

Who needs a Single Audit?
Organizations that expend $1 million or more in federal awards during a fiscal year are generally subject to Single Audit requirements under Uniform Guidance.

Do federal funds received through another organization count?
Yes. Federal awards received directly or through a pass-through entity, such as a state or local government, may count toward the threshold.

What should we prepare before the audit?
Start with an accurate SEFA reconciled to the general ledger, supporting grant records, compliance documentation, and evidence that key internal controls are operating effectively.

What are common Single Audit problems?
Common issues include incomplete SEFAs, unsupported expenditures, compliance deficiencies, weak internal controls, and inadequate subrecipient monitoring.

How can BMK360CPA help?
BMK360CPA provides Single Audit and federal compliance audit services, helping organizations navigate Uniform Guidance requirements and address audit risks efficiently.

Preparing for a Single Audit?

Don’t wait until the auditors arrive to discover a problem. BMK360CPA provides experienced Single Audit services to help your organization navigate federal compliance requirements with confidence.

Let’s Make Your Next Single Audit Smoother → Contact BMK360CPA