Billions of dollars are given every year to nonprofit organizations, government entities, commercial organizations, and others in the form of grants and other awards from the federal government. Whether funds come from the U.S. Department of Education, Housing and Urban Development, Health and Human Services, another federal agency, or a pass-through agency, expending more than $750,000 in a single year triggers the need for a single audit.
Federal grants are provided specifically to benefit the public in some way. A single audit ensures that awards are being used appropriately in accordance with the specific program requirements of the funding agency and that recipients are complying with all laws and regulations. We accomplish this by analyzing your organization’s financial statement information, closely reviewing revenue and expenditures of federal funds, gaining an understanding of and testing internal controls used in administering federal awards, and assessing compliance with the significant requirements of each major program.
Our team understands the complex requirements involved with single audits. We work with dozens of organizations in Delaware and surrounding areas conducting single audits and providing guidance on related issues. BLS goes beyond simple compliance to add bottom line value to each audit engagement performed.
Our Single Audit Services:
- Audits performed in accordance with the Uniform Guidance (OMB Circular A-133)
- Program-specific audits
- Completion of the data collection forms and submission to the Federal Audit Clearinghouse
- Assistance with preparing the Schedule of Expenditures of Federal Awards (SEFA)