1 T ype of F e de r al Assistanc e No n-c a sh Co o pe rative - - PDF document

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1 T ype of F e de r al Assistanc e No n-c a sh Co o pe rative - - PDF document

Sep 12, 2022 304 likes •399 views

What is a Single Audit? Pr e se nte d by: Ce nte r for Audit E xc e lle nc e Age nda Wha t is a sing le a udit? Whe n is a sing le audit ne e de d? What are my re spo nsib ilitie s as an audite e ? Wha t a re a udito rs lo o king fo

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1 What is a Single Audit?

Pr e se nte d by: Ce nte r for Audit E xc e lle nc e

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Wha t is a sing le a udit? Whe n is a sing le audit ne e de d? What are my re spo nsib ilitie s as an audite e ? Wha t a re a udito rs lo o king fo r? Ho w will this be re po rte d? He lpful re so urc e s

Age nda

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2 CF R 200.501(b)- S

ingle audit. A no n-F e de ral e ntity tha t e xpe nds $750,000 o r mo re during the no n- F e de ra l e ntity's fisc a l ye a r in F e de ra l a wa rds must ha ve a sing le a udit c o nduc te d in a c c o rda nc e with §200.514 S c o pe o f audit. Whe n a Single Audit is ne e de d

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Gra nts Co o pe rative Ag re e me nts No n-c a sh c o ntrib utio ns/ do na tio ns

  • f pro pe rty

Dire c t a ppro pria tio ns L

  • a ns o r lo a n

g ua ra nte e s I nsura nc e

T ype of F e de r al Assistanc e

5 “T he Single Audit Ac t of 1984” (Public L aw 98-502)

E stablishe d re quire me nts fo r c e rtain g o v’ s that administe r F e d. pro g rams Ame nde d in 1996 (31 U SC 75) OMB Circ ular A-128 I ssue d in 1985 to he lp audito rs and re c ipie nts imple me nt the ne w Sing le Audit Ac t E xte nde d to additio nal e ntity type s in 1990 unde r A-133 (mo difie d in 2003 & 2007) Uniform Guidanc e (UG) I ssue d 2013; U pdate d in 2014 & 2015 Supe rse de s: A-87, A-102, A-133 (A-122, A-21, A-110, A-89 & A-50)

Histor y of a Single Audit

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  • We bsite : www.e c fr.g o v
  • Subpart A (.00 - .99) – Ac ro nyms and

De finitio ns

  • Subpart B (.100 - .113) – Ge ne ral Pro visio ns
  • Subpart C (.200 – .213) – Pre -F

e de ral Award Re quire me nts and Co nte nts o f F e de ral Awards

  • Subpart D (.300 – .345) – Po st F

e de ral Award Re quire me nts

  • Subpart E

(.400 – .475) – Co st Princ ipals

  • Subpa rt F

(.500 – .521) – Audit Re quire me nts

  • Appe ndic e s

Unifo rm Guida nc e – 2 CF R §200 Unifor m Guidanc e Br e akdown

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7 L ist individual F e de ra l pro g ra ms b y F e de ra l a g e nc y Na me pa ss-thro ug h e ntity a nd ide ntifying numb e r a ssig ne d b y the m Pro vide to ta l F e de ra l a wards e xpe nde d fo r e a c h individual pro g ra m a nd the CF DA numb e r Inc lude to ta l a mo unt pro vide d to sub re c ipie nts No te s to the SE F A

Sc he dule of F e de r al E xpe nditur e R e quir e me nts (SE F A)

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Audito rs will lo o k at the Sc he dule o f E xpe nditure o f F e de ral Awards (SE F A) to de te rmine the fe de ral pro g rams that will ne e d to be te ste d.

  • Offic e o f Budg e t a nd Ma na g e me nt

(OMB) a nnua lly puts o ut a Co mplia nc e Supple me nt tha t pro vide s g uida nc e a nd sug g e ste d a udit pro c e dure s fo r diffe re nt a re a s o f c o mplia nc e .

  • In a dditio n, re q uire me nts ma y b e
  • utline d b y pa ss-thro ug h e ntitie s,

g ra nt a wa rds a nd a g re e me nts, a nd

  • the r fo rms o f c o mmunic a tio n.

What ar e the auditor s looking at?

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Ac tivitie s Allo we d and Unallo we d Allo wable Co sts/ Co st Princ iple s Cash Manag e me nt E lig ibility E quipme nt & Re al Pro pe rty Manag e me nt Matc hing , L e ve l

  • f E

ffo rt, and E armarking Pe rio d o f Pe rfo rmanc e Pro c ure me nt & Suspe nsio n and De barme nt Pro g ram Inc o me Re po rting Subre c ipie nt Mo nito ring Spe c ial T e sts and Pro visio ns

Complianc e R e quir e me nts

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An o pinio n o n whe the r the SE F A is fa irly sta te d in a ll ma te ria l re spe c ts to the fina nc ia l sta te me nts. A re po rt o n c o mplianc e fo r e a c h ma jo r pro g ra m a nd a re po rt o n inte rna l c o ntro ls o ve r c o mplianc e .

  • Will inc lude a n o pinio n fo r e a c h

ma jo r pro g ra m

Sc he dule o f F inding s Ma na g e me nt L e tte r

Auditor s’ R e por ts and L e tte r s

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T he re a re 4 type s o f

  • pinio ns tha t c a n b e

issue d—unmo difie d, q ua lifie d, a dve rse , o r disc la im. Audit F inding s (2 CF R 200.516)

  • Sig nific ant de fic ie nc ie s and

ma te ria l we a kne sse s in inte rna l c o ntro l o ve r majo r pro g rams

  • Mate rial no nc o mplianc e with

the pro visio ns o f F e de ral statue s, re g ulatio ns, o r the te rms and c o nditio ns o f F e de ra l a wa rds re late d to a majo r pro g ram

  • Que stio ne d c o sts tha t a re

g re a te r tha n $25,000 fo r a type

  • f c o mplianc e re quire me nt fo r a

majo r pro g ram

Audit R e por ting

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Will be lo c ate d in the Sc he dule o f F inding s and inc lude (as applic able ) 2 CF R 200.516

F e de ra l pro g ra m na me a nd CF DA numb e r Na me o f the F e de ra l a g e nc y o r pa ss-thro ug h T he c rite ria o r spe c ific re q uire me nt upo n whic h the finding is b a se d If the finding ha d b e e n issue d in the prio r ye a r Re c o mme nda tio n to pre ve nt

  • c c urre nc e s fro m
  • c c urring a g a in

Vie ws o f re spo nsib le

  • ffic ia ls o f the

a udite e s

Audit F indings

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T he a udite e must pre pa re (in a do c ume nt se pa ra te fro m the a udito rs’ finding s) a c o rre c tive a c tio n pla n to a ddre ss e a c h a udit finding .

  • Must pro vide the na me s o f the c o nta c t

re spo nsib le fo r the a c tio n, the c o rre c tive a c tio n pla nne d, a nd the a ntic ipa te d c o mple tio n da te .

  • T

he Co rre c tio n Ac tio n Pla n must b e pre pa re d o n the a udite e s’ le tte rhe a d.

Cor r e c tive Ac tion Plan 2 CF R 200.511

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Audite e is re spo nsib le fo r pre pa ring the Sc he dule

  • Must re po rt the sta tus o f AL

L finding s inc lude d in the prio r ye a r’ s Sc he dule o f F inding s

  • F

ully Co rre c te d

  • Pa rtia lly Co rre c te d
  • No t Co rre c te d
  • Must inc lude the ye a r in whic h the finding
  • rig ina lly o c c urre d

Sc he dule of Pr ior Ye ar Audit F indings 2 CF R 200.511

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  • I

nc lude s info rmatio n re late d to the financ ial and sing le audit

  • As pa rt o f the sub missio n the

c o mple te audit re po rt will be uplo ade d

  • Audite e s a nd a udito rs will b e

re quire d to c o mple te a c e rtific atio n re g arding info rmatio n in the sub missio n tha t so me o ne in the e ntity will b e re spo nsib le fo r c o mple ting

Bo th a udito rs a nd a udite e s a re re q uire d to c o mple te a n o nline fo rm tha t is sub mitte d to the F e de ra l Audit Cle a ring ho use

Data Colle c tion F

  • r

m (DCF )

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  • Unifo rm Guida nc e --

https:/ / www.e c fr.g o v/ c g i-b in/ te xt- idx? SI D=15d9c 6bbda c e 50bc e 92a da a 4bb2 de 2a f&c =e c fr&tpl=/ e c frb ro wse / T itle 02/ 2c fr v1_02.tpl

  • UG F

AQs--https:/ / c fo .g o v/ wp- c o nte nt/ uplo a ds/ 2017/ 08/ July2017- Unifo rmGuidanc e F re que ntlyAske dQue stio n s.pdf

  • OMB--

https:/ / www.white ho use .g o v/ o mb / ma na g e me nt/ o ffic e -fe de ral-financ ial- ma na g e me nt/

R e sour c e s

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  • F

e de ra l Audit Cle a ring ho use -- https:/ / ha rve ste r.c e nsus.g o v/ fa c we b / De fa ult.aspx

  • AI

CPA Go ve rnme nt Audit Qua lity Ce nte r-- https:/ / www.aic pa .o rg / inte re stare a s/ g o ve r nme ntalauditq ua lity.html

  • AOS We bsite --

http:/ / www.o hio audito r.g o v/ re fe re nc e s/ pr ac tic e aids.html

R e sour c e s

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Center for Audit Excellence 88 E. Broad St. Columbus, Ohio 43215 Presenter phone: (800) 282-0370 FACCR@ohioauditor.gov

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88 E. Broad St. Columbus, Ohio 43215 Phone: (800) 282-0370 www.OhioAuditor.gov

Email: ContactUs@OhioAuditor.gov