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Single Audit Requirements for Nonprofit Organizations that Receive Federal Funds

Single Audit Requirements for Nonprofit Organizations that Receive Federal Funds

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December 2022

Government funding brings some rather complicated reporting and auditing requirements. This can apply to both for-profit businesses and not-for-profit organizations (NFPs) that receive federal funding. NFPs should be aware of their auditing obligations under regulations from the Office of Management and Budget (OMB). This article describes the single audit requirement, including when an NFP must conduct one and what issues it must cover.

View the full article here.