Before Your Single Audit, Confirm:
✓ SEFA is complete and reconciles to the general ledger.
✓ Federal awards received directly and through pass-through entities are identified.
✓ Assistance Listing Numbers and federal agencies are properly identified.
✓ Major program information and prior audit history are available.
✓ Key internal controls over compliance are documented and operating.
✓ Federal expenditures have adequate supporting documentation.
✓ Payroll, procurement, and other applicable compliance records are organized.
✓ Subrecipient monitoring documentation is complete.
✓ Prior-year findings and corrective actions have been addressed.
✓ Grant agreements, reports, correspondence, and key compliance records are readily available.
CFO Takeaway
A smoother Single Audit starts before fieldwork begins. Identifying documentation, compliance, and control issues early gives management time to address them before they become audit findings.
Preparing for a Single Audit?
BMK360CPA can help your organization navigate Uniform Guidance requirements and prepare for an efficient Single Audit.
Discuss Your Single Audit With BMK360CPA