Single Audits

The Benefits of a Quality Single Audit

A properly conducted Single Audit is critical for any organization that relies on federal funding. It provides significant benefits beyond just meeting a regulatory requirement.

• • Maintain Federal Funding: A clean audit report is essential for continuing to receive federal awards and demonstrates that you are a responsible steward of public funds.
  • Ensure Compliance: Avoid significant penalties, questioned costs, or loss of funding that can result from non-compliance with the complex rules associated with federal grants.
  • Strengthen Internal Controls: The audit process identifies weaknesses in your internal controls over compliance, providing you with actionable recommendations to reduce risk and improve program management.
  • Enhance Transparency and Accountability: A Single Audit provides transparency to federal agencies, your board, and the public, reinforcing trust in your organization’s operations.

Services Overview

• • Financial Statement Audit: We review your financial statements to ensure accuracy and compliance with auditing standards.
  • Federal Awards Compliance Testing: We check that your major federal programs meet key grant requirements, such as allowable costs and reporting.
  • Internal Control Evaluation: We evaluate your internal controls to help prevent or detect non-compliance.
  • Reporting: We deliver all required reports, including a summary of findings, to keep you informed and compliant.