Federal Single Audit

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Organizations that receive federal funding, whether as direct recipients of federal grants or as subrecipients passing through another entity, are subject to the requirements of the Single Audit Act when certain thresholds are met. These regulations mandate a specialized compliance audit performed by qualified CPA firms and are designed to ensure accountability and proper stewardship of federal funds. Understanding when a Single Audit is required and how it differs from other audit types is critical for maintaining compliance and avoiding costly findings.

This comprehensive course explores the parameters that determine when an organization must undergo a Single Audit and what to expect throughout the process. Participants will gain practical insight into the audit framework, key documentation requirements, and the roles and responsibilities of both auditees and auditors. Whether you currently work for an organization subject to Single Audit requirements, anticipate future applicability, or perform Single Audits as part of a CPA firm, this training delivers a solid foundation in Single Audit compliance and execution.

Your Benefits For Attending:
  • Differences between financial and compliance audits
  • Single Audits vs. Program Specific Audits
  • The distinguishing characteristics of a Yellow Book audit
  • How to identify major programs
  • How to prepare a Statement of Expenditures of Federal Awards (SEFA)
  • The types, significance, and consequences of audit findings
  • What everyone should know about the compliance supplement

Attending this webinar will equip you with the knowledge and confidence to navigate Single Audit requirements effectively, reduce compliance risk, and strengthen your organization’s federal grant oversight. You’ll walk away with actionable insights that support audit readiness and professional credibility.

This course is ideal for: Finance professionals, grant administrators, compliance officers, and CPA firm staff involved in Single Audits or federal grant oversight.

Level: Intermediate
Format: Live webcast
Instructional Method: Group: Internet-based
NASBA Field of Study: Taxes (2 hours)
Program Prerequisites: None
Advance Preparation: None

  • Chuck Borek

    Chuck Borek

    Chuck Borek is a practicing attorney and founder of  the Borek Group, LLC. Chuck is also a CPA, and his background includes  five years as a partner in a public accounting firm. He received his law degree and MBA summa cum laude from the University of Baltimore in 1993, where he was editor [...]

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For more information regarding administrative policies such as complaint and refund, and cancellation please contact our offices at 407-542-4317 or [email protected].

ATATX Credit

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Webinar Survey Overall Rating

This webinar received a total of 2 survey responses. Attendees have given an average rating of 4.3 stars out of a possible 5, reflecting the quality and value of the content presented.

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4.3 / 5
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4.5 Stars
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4.0 Stars
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Reviews From Webinar Survey

Our webinars are crafted to deliver exceptional value and insight to business professionals. Below, you'll find genuine feedback from attendees.

Lise S.
April 16, 2026
5.0 / 5
Webinar Rating:
5.0 Stars
Speaker Rating:
5.0 Stars
Do you have any other comments, questions or concerns?
Great presentation! Chuck did a phenomenal job.
Horacio V.
April 16, 2026
3.6 / 5
Webinar Rating:
3.3 Stars
Speaker Rating:
4.0 Stars
Do you have any other comments, questions or concerns?
Not sure what I expected, thought it would be more detailed but then it was. I guess this was more for those who are not audited frequently. Our organization is every year org-wide, and almost every year by almost each grant awardee

Frequently Asked Questions

A federal single audit is a specialized compliance audit required of organizations that expend $750,000 or more in federal awards—including grants, loans, and contracts—during a fiscal year. Established by the Single Audit Act Amendments of 1996 and implemented through OMB Uniform Guidance (2 CFR Part 200), single audits ensure accountability and proper stewardship of federal funds. Unlike a standard financial audit, a single audit examines both the organization's financial statements and its compliance with the terms, conditions, and federal requirements applicable to each major federal program. Both direct recipients of federal funding and subrecipients that pass through federal awards are subject to single audit requirements when they meet the expenditure threshold. Nonprofit organizations, state and local governments, universities, and tribal governments are the most common auditees. Understanding when the threshold is triggered—and the audit requirements that follow—is essential for finance professionals, grant administrators, and compliance officers at organizations receiving federal funding.
A single audit is distinct from a standard financial audit in both scope and purpose. A standard financial audit examines whether an organization's financial statements are presented fairly in accordance with GAAP, but does not evaluate compliance with individual federal program requirements. A single audit goes further—combining the financial statement audit with a compliance audit of federal awards, examining whether the organization complied with applicable laws, regulations, and grant terms for each major program. A program-specific audit is an alternative available to organizations that expend federal awards under only one federal program—it focuses exclusively on that single program rather than the entire entity. Single audits are performed under Generally Accepted Government Auditing Standards (Yellow Book standards) and the Uniform Guidance. The Yellow Book imposes additional independence, quality control, and reporting standards beyond GAAP audits, making single audit engagements more complex and resource-intensive for both the auditee organization and the CPA firm.
The Schedule of Expenditures of Federal Awards (SEFA) is a required supplemental schedule prepared by the auditee organization that lists all federal awards expended during the fiscal year—organized by federal agency, program name, Assistance Listings number, and amount. The SEFA is foundational to the single audit process: auditors use it to determine total federal award expenditures, identify which programs must be tested as major programs, and plan the scope of compliance testing. An inaccurate or incomplete SEFA can result in audit findings and noncompliance with Uniform Guidance requirements. Preparing an accurate SEFA requires careful tracking of all federal award activity throughout the year, including pass-through awards received from state agencies or other intermediaries. Organizations subject to single audit requirements should maintain a federal award tracking system that captures all relevant data elements—program name, funding agency, award number, and expenditure amounts—continuously throughout the year rather than reconstructing this information at year-end.
Identifying major programs is one of the most important planning steps in a federal single audit, as major programs are subject to detailed compliance testing. Under the Uniform Guidance, auditors use a risk-based approach beginning with Type A programs (those exceeding certain expenditure thresholds) and Type B programs (all others). Type A programs are assessed for low risk based on prior audit results; low-risk Type A programs may receive less testing emphasis. Type B programs are assessed to identify any that appear to be high risk, and auditors select a sample of high-risk Type B programs as additional major programs. The goal is to ensure the audit covers at least 40% of total federal award expenditures (or 20% for low-risk auditees). The Compliance Supplement, published annually by OMB, provides auditors with program-specific guidance on applicable laws, regulations, and compliance requirements for hundreds of federal programs, and is an indispensable reference for planning and executing major program compliance testing.
Single audit findings are categorized by type and severity, and carry significant consequences for organizations that receive them. The primary categories include: financial statement findings (material weaknesses or significant deficiencies in internal control over financial reporting); federal awards compliance findings, which may include material weaknesses in internal control, significant deficiencies, or instances of material noncompliance with program requirements; and questioned costs—expenditures auditors believe may not be allowable under applicable federal requirements. Findings are reported in the Schedule of Findings and Questioned Costs, and organizations must prepare a Corrective Action Plan responding to each. Repeat findings from prior years receive heightened scrutiny. Consequences include required repayment of questioned costs, enhanced federal oversight, reduction in future award amounts, disallowance of program costs, and in severe cases, suspension or debarment from federal funding. For this reason, organizations with federal awards invest heavily in internal controls, grant management systems, and staff training to prevent findings and demonstrate responsible stewardship.