Guidance 531 - Audit of Financial Statements

(Editor’s note: This tab complies with the 2024 revisions to the uniform guidance — applicable for awards issued on or after Oct. 1, 2024, for subparts A-E. The subpart F requirements in the 2024 revisions will apply to single audits and program-specific audits with auditee fiscal years beginning Oct. 1, 2024.) As part of a single audit under subpart F of the Office of Management and Budget’s uniform guidance, auditors must determine whether the auditee’s financial statements are presented fairly in all material respects in conformity with generally accepted accounting principles (GAAP) or a special purpose framework such as cash, modified cash or regulatory as required by… Read More