May 2021
With the COVID-19 pandemic resulting in a wide range of related legislation, such as the CARES Act and similar relief acts, a number of organizations will need to do Single Audits for the very first time either this year or in 2022. But what is a Single Audit? Part financial statement and part federal awards audit, this document is focused on ensuring that any federal funding that was received by the organization was used as it was intended, and demonstrates that the organization is complying with the Uniform Guidance.
As you're starting on your organization's Single Audit, it's vital that you prepare carefully. There are some common mistakes that can be made that can cause you to have a lot of issues in the future if you don't watch out for them during the process.
