Single Audit Checklist: Working Toward a Successful Single Audit Submission

Under the Single Audit Act Amendments of 1996 and subpart F of the Office of Management and Budget’s (OMB) uniform guidance, nonfederal entities (i.e., colleges and universities, state and local governments, Indian tribes and nonprofits) are required to obtain a single audit or program-specific audit if they expend $1 million or more in federal awards in an entity’s fiscal year (§200.501). This threshold is an increase over the previous single audit threshold of $750,000, and applies to entities with fiscal years beginning on or after Oct. 1, 2024. Getting ready for such an audit can be a challenge, as there are numerous responsibilities that an entity being audited must address prior to audit, including arranging for an independent auditor to conduct the audit.

Once an auditor is hired, auditees then must face the task of preparing certain documents for review by the auditor and, ultimately, for submission as part of the complete single audit reporting package (§200.512(c)). This single audit checklist from Thompson Grants can prove useful in assisting an auditee in meeting all of its responsibilities as it goes through the single audit process.

Fill out the form to download this checklist.