Single Audit

Many organizations and government agencies that receive federal funds are required to undergo a Single Audit also known as an “OMB A-133” (U.S. Office of Management and Budget).

The purpose of a Single Audit is to ensure a recipient of federal funds is in compliance with the federal program’s requirements for how the money can be used.  The standards governing Single Audit engagements require the independent auditor to report not only on the fair presentation of the financial statements, but also on the audited government’s internal controls and compliance with legal requirements, with special emphasis on internal controls and legal requirements involving the administration of federal awards.