(ii) Promote interagency coordination, consistency, and sharing in areas such as coordinating audit follow-up; identifying higher-risk non-Federal entities; providing input on single audit and follow-up policy; enhancing the utility of the FAC; and studying ways to use single audit results to improve Federal award accountability and best practices. Webprinciples, and single audit requirements contained in the . When the major program determination was performed and documented in accordance with this Subpart, the auditor's judgment in applying the risk-based approach to determine major programs must be presumed correct. Toll Free Call Center: 1-877-696-6775, Call FAC at the toll-free number: (800) 253-0696. (3) Provide total Federal awards expended for each individual Federal program and the Assistance Listings Number or other identifying number when the Assistance Listings information is not available. (4) Type B programs with larger Federal awards expended would be of higher risk than programs with substantially smaller Federal awards expended. As provided in 200.513(c)(3)(i), a Federal awarding agency is responsible for issuing a management decision for findings that relate to Federal awards it makes to non-Federal entities. (1) When audit findings were fully corrected, the summary schedule need only list the audit findings and state that corrective action was taken. A program-specific audit may not be elected for R&D unless all of the Federal awards expended were received from the same Federal agency, or the same Federal agency and the same pass-through entity, and that Federal agency, or pass-through entity in the case of a subrecipient, approves in advance a program-specific audit. 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. (i) Medicaid. 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. For example, it may be necessary for a large Type A program to be audited as a major program each year at a particular recipient to allow the Federal awarding agency to comply with 31 U.S.C. The law aimed to streamline the auditing process so that award recipients only have to conduct a single, annual audit instead of conducting multiple audits of individual programs. formatting. The auditor must also report known questioned costs when likely questioned costs are greater than $25,000 for a type of compliance requirement for a major program. (3) The inclusion of large loan and loan guarantees (loans) must not result in the exclusion of other programs as Type A programs. The cognizant agency for audit must: (i) Provide technical audit advice and liaison assistance to auditees and auditors. Displaying title 2, up to date as of 3/02/2023. The auditor must consider criteria, such as described in paragraphs (b), (c), and (d) of this section, to identify risk in Federal programs. When corrective action taken is significantly different from corrective action previously reported in a corrective action plan or in the Federal agency's or pass-through entity's management decision, the summary schedule must provide an explanation. A senior level representative of the auditee (e.g., state controller, director of finance, chief executive officer, or chief financial officer) must sign a statement to be included as part of the data collection that says that the auditee complied with the requirements of this part, the data were prepared in accordance with this part (and the instructions accompanying the form), the reporting package does not include protected personally identifiable information, the information included in its entirety is accurate and complete, and that the FAC is authorized to make the reporting package and the form publicly available on a website. user convenience only and is not intended to alter agency intent 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. ACCT 567. mari1975. This requirement must still be in effect for the biennial period. c. Most audits of state and local governments expending federal grant funds. (f) Subrecipients and contractors. The auditor must follow-up on prior audit findings, perform procedures to assess the reasonableness of the summary schedule of prior audit findings prepared by the auditee in accordance with 200.511(b), and report, as a current year audit finding, when the auditor concludes that the summary schedule of prior audit findings materially misrepresents the status of any prior audit finding. If you receive $750k in federal grants and expend $300k one year and $450k the next, the Single Audit trigger may not have been reached. Known questioned costs must be identified by applicable Assistance Listings number(s) and applicable Federal award identification number(s). 07/06/2015. While not required, the auditee may choose to provide information requested by Federal awarding agencies and pass-through entities to make the schedule easier to use. If the due date falls on a Saturday, Sunday, or Federal holiday, the reporting package is due the next business day. A non-Federal entity expending more than $50 million a year in Federal awards must have a cognizant agency for audit. WebThe single audit requirement applies to A All audits of state and local from ACCT 567 acct 567 at DeVry University, Keller Graduate School of Management Expert Help Study Regulation Y WebThe single audit is generally conducted by an independent certified public accountant or state auditor and is intended to assess whether the recipient spends federal funds properly. (f) Free rent. (d) The auditor did not report a substantial doubt about the auditee's ability to continue as a going concern. Pressing enter in the search box According to the Subpart F-Audits 45 CFR 75.501(a)Visit disclaimer page Non-Federal entities that expend $750,000 or more during the non-Federal entity's fiscal year in Federal awards must have a single or program-specific audit conducted for that year in accordance with the provisions of this part. (viii) Coordinate the audit work and reporting responsibilities among auditors to achieve the most cost-effective audit. This governmentwide audit quality project must be performed once every 6 years (or at such other interval as determined by OMB), and the results must be public. 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). 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. (c) Report submission for program-specific audits. It is intended to provide assurance to the Federal Government that a non-federal entity has adequate internal controls in place, and is generally in compliance with program requirements. Major inadequacies or repetitive substandard performance by auditors must be referred to appropriate state licensing agencies and professional bodies for disciplinary action. Pages 13. (a) General. This is an automated process for (b) Single audit. 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. full text search results (c) A report on compliance for each major program and a report on internal control over compliance. The auditor must report the following as audit findings in a schedule of findings and questioned costs: (1) Significant deficiencies and material weaknesses in internal control over major programs and significant instances of abuse relating to major programs. (c) Corrective action plan. Does the Single Audit requirement apply to CARES Act funding? A Federal agency with oversight for an auditee may reassign oversight to another Federal agency that agrees to be the oversight agency for audit. The auditor must use a risk-based approach to determine which Federal programs are major programs. DISCLAIMER: The contents of this database lack the force and effect of law, except as If the auditee does not agree with the audit findings or believes corrective action is not required, then the corrective action plan must include an explanation and specific reasons. Generally, the activity pertains to events that require the non-Federal entity to comply with Federal statutes, regulations, and the terms and conditions of Federal awards, such as: expenditure/expense transactions associated with awards including grants, cost-reimbursement contracts under the FAR, compacts with Indian Tribes, cooperative agreements, and direct appropriations; the disbursement of funds to subrecipients; the use of loan proceeds under loan and loan guarantee programs; the receipt of property; the receipt of surplus property; the receipt or use of program income; the distribution or use of food commodities; the disbursement of amounts entitling the non-Federal entity to an interest subsidy; and the period when insurance is in force. The audit must be conducted in accordance with GAGAS. HHS/ACF All Federal agencies, pass-through entities and others interested in a reporting package and data collection form must obtain it by accessing the FAC. Should we get an audit if we are not required to have a Single Audit? 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 or program-specific audit conducted for that year in accordance with the provisions of this part. A non-Federal entity that has biennial audits does not qualify as a low-risk auditee. This paragraph does not require the auditor to report publicly information which could compromise investigative or legal proceedings or to make an additional reporting when the auditor confirms that the fraud was reported outside the auditor's reports under the direct reporting requirements of GAGAS. (1) Oversight exercised by Federal agencies or pass-through entities could be used to assess risk. HHS/ACF has implemented the Uniform Guidance at 45 CFR 75Visit disclaimer page. WebThe single audit requirement applies to A All audits of Doc Preview. When an auditee expends Federal awards under only one Federal program (excluding R&D) and the Federal program's statutes, regulations, or the terms and conditions of the Federal award do not require a financial statement audit of the auditee, the auditee may elect to have a program-specific audit conducted in accordance with 200.507. When information, such as the Assistance Listings title and number or Federal award identification number, is not available, the auditor must provide the best information available to describe the Federal award. Management decisions must include the reference numbers the auditor assigned to each audit finding in accordance with 200.516(c). All audits of state and local government reporting entities. (e) Request for a program to be audited as a major program. guide. (6) Identification of questioned costs and how they were computed. > Agencies Where practical, audit findings should be organized by Federal agency or pass-through entity. An auditee that meets all of the following conditions for each of the preceding two audit periods must qualify as a low-risk auditee and be eligible for reduced audit coverage in accordance with 200.518. 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. The Electronic Code of Federal Regulations (eCFR) is a continuously updated online version of the CFR. (a) Auditor procurement. (Your Answer) D. Financial and performance audits, and attestation engagements. B. A single audit, previously known as the OMB Circular A-133 audit, is required for any organization that accepts $750,000 or more in federal funds during the fiscal year. WebQ-10. Any additional audits must be planned and performed in such a way as to build upon work performed, including the audit documentation, sampling, and testing already performed, by other auditors. When the auditor is aware that the Federal agency, pass-through entity, or auditee is contesting an audit finding, the auditor must contact the parties contesting the audit finding for guidance prior to destruction of the audit documentation and reports. If you need assistance accessing an accessible version of this document, please reach out to the guidance@hhs.gov. The Contractor shall retain a licensed certified public accountant, who will prepare an annual Single Audit as required by 31 USC 7501 7507, as well as its implementing regulations under 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. (f) Report retention requirements. (e) Audit follow-up. The agreement with the for-profit subrecipient must describe applicable compliance requirements and the for-profit subrecipient's compliance responsibility. (g) Documentation of risk. [78 FR 78608, Dec. 26, 2013, as amended at 79 FR 75887, Dec. 19, 2014; 85 FR 49574, Aug. 13, 2020]. 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. 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. Federal award compliance requirements normally do not pass through to contractors. (4) A statement of cause that identifies the reason or explanation for the condition or the factors responsible for the difference between the situation that exists (condition) and the required or desired state (criteria), which may also serve as a basis for recommendations for corrective action.

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