Organizations expending $1,000,000 or more in federal awards (updated per the April 2024 revised OMB Uniform Guidance) annually are required to undergo a Single Audit. Summit Advisory performs these engagements under OMB Uniform Guidance (2 CFR Part 200) and Yellow Book standards — helping nonprofits, municipalities, and federal award recipients satisfy their compliance obligations efficiently and accurately.
Get a Free ConsultationWhat Is a Single Audit?
A Single Audit (formerly called an A-133 audit) is a compliance and financial audit required of organizations that expend $1,000,000 or more in federal awards in a given fiscal year. It combines an audit of the organization's financial statements with an assessment of compliance with applicable federal program requirements.
Single Audits are governed by OMB Uniform Guidance (2 CFR Part 200) and must be performed by an independent licensed CPA who also complies with Government Auditing Standards (Yellow Book). The resulting audit package — including financial statements, the Schedule of Expenditures of Federal Awards (SEFA), and compliance reports — must be submitted to the Federal Audit Clearinghouse (FAC).
Summit Advisory has deep experience in Single Audit engagements for nonprofits, government entities, and federally funded programs across a wide range of grant types and federal agencies.
Schedule Your Single AuditNonprofit Organizations — 501(C)3s expending $1,000,000+ in federal grants (HHS, HUD, USDA, DOE, DOL, etc.)
State & Local Governments — municipalities, counties, and public entities receiving federal funding
Tribal Governments — federally recognized tribes and tribal organizations
Universities & Higher Education — institutions receiving federal research grants or Title IV funding
Healthcare & Human Services Agencies — entities receiving Medicaid, Medicare, or HHS program funding
Our Single Audit Services
Our Single Audit engagements address every required component under OMB Uniform Guidance — from financial statement audit to SEFA preparation and federal program compliance testing.
Independent audit of your organization's financial statements under GAAS and GAAP — including balance sheet, statement of activities, and cash flows — to provide assurance on the fairness of reporting.
Preparation or review of the Schedule of Expenditures of Federal Awards (SEFA), ensuring accurate classification and presentation of all federal program expenditures for each award cluster.
Application of the risk-based approach under Uniform Guidance to identify major federal programs subject to compliance testing, balancing coverage requirements against engagement efficiency.
Testing of compliance with the applicable requirements of each major federal program — including activities allowed, allowable costs, eligibility, reporting, and special tests & provisions.
Assessment of the internal controls over compliance with federal program requirements, including documentation of control objectives, testing procedures, and findings with actionable recommendations.
Preparation and filing of the Data Collection Form (SF-SAC) and audit package to the Federal Audit Clearinghouse within the required submission deadline — ensuring timely, compliant reporting.
Our team has performed Single Audits across dozens of federal programs — HHS, HUD, USDA, DOE, and more — with working knowledge of program-specific compliance requirements and audit risk factors.
Every Single Audit we perform complies with Government Auditing Standards (Yellow Book) and OMB Uniform Guidance, 2 CFR Part 200 — the dual-standard framework required for federally funded audits.
We manage the complete submission timeline — from engagement planning to FAC filing — ensuring your organization meets its 30-day (or 9-month) deadline without last-minute scrambles.
When findings arise, we communicate clearly with your management team, help draft corrective action plans, and provide guidance on resolving prior audit findings to reduce future compliance risk.
Why Summit Advisory
Single Audits are technically demanding — they require an audit firm with documented experience in Yellow Book standards, federal program compliance, and SEFA reporting. Summit Advisory brings that expertise to every engagement, with transparent pricing and a structured process that minimizes disruption to your staff.
Our nonprofit clients have had their Single Audit findings confirmed by federal agencies within weeks of submission. We don't just complete the audit — we prepare your organization for the results.
Get a Free ConsultationOur Process
We review your federal award portfolio, identify applicable programs, confirm the $750K threshold, and define the full engagement scope including major program determination methodology.
We review your Schedule of Expenditures of Federal Awards, identify major programs under the risk-based approach, and assess internal controls over compliance before fieldwork begins.
We perform financial statement testing, evaluate internal controls, and test compliance with federal program requirements across each identified major program.
We issue all required reports, prepare the Data Collection Form, and submit your complete audit package to the Federal Audit Clearinghouse by your required deadline.
FAQ
An organization must have a Single Audit when it expends $1,000,000 or more in federal awards during its fiscal year. This threshold applies to cumulative expenditures across all federal programs, not individual awards.
Under Uniform Guidance, the audit package must be submitted to the Federal Audit Clearinghouse within 30 calendar days after the auditor issues the reports, or 9 months after the end of the fiscal year being audited — whichever comes first.
A major program is a federal program selected for compliance testing using a risk-based approach defined in 2 CFR Part 200. The selection considers the size of expenditures, risk factors, and prior audit history of each program.
Findings must be reported in the audit report and addressed with a corrective action plan signed by management. We work closely with your team to draft corrective action plans and provide guidance on remediation to reduce future findings.
Yes. The Single Audit was previously performed under OMB Circular A-133. Since 2015, it has been governed by the Uniform Administrative Requirements in 2 CFR Part 200 (Uniform Guidance), which replaced the A-133 circular.
Typical Single Audits take 8-14 weeks from the start of fieldwork to report issuance, depending on organizational complexity, number of major programs, and the completeness of your documentation at the start of fieldwork.