Helping higher education comply with increased A-133 (single audit) reporting
Has your institution received funding through the American Recovery and Reinvestment Act (ARRA) for work-study, research and development, workforce training, or other programs? If so, you probably know the funding comes with an unprecedented demand for accountability and transparency and requires reporting an unparalleled amount of data.
If you are looking for assistance with these expanded reporting responsibilities, Plante Moran can help. The firm has a team of professionals who are accustomed to working with institutions of higher education and have extensive experience performing single audits for Office of Management and Budget (OMB) Circular A-133 compliance.
Circular A-133 experience counts
In fact, the Plante Moran single audit team is second in the nation in terms of number of audits performed and the team leader sits on the executive board of the AICPA Government Audit Quality Center.
You can rely on our professionals to help you accurately track each award and meet the required quarterly reporting. The reports must indicate the amount of money received, the projects funded, the status of the projects, the number of jobs created, and the number of jobs retained.
The information will be published on recovery.gov
. The website is the government’s way of reassuring the American taxpayers that their money is being wisely spent.
Help validating decisions
Because of the experience of our single audit team, you can rely on them to help you validate your institution’s decisions, policies, and procedures concerning ARRA funds. They can help you develop a tracking system for each award and institute a cash management process that draws down ARRA funds on an award-specific basis.
In other words, internal controls will be essential to successful A-133 audit reporting. Our professionals can help you set up or improve your internal controls based on the COSO framework.
It is clear that the Recovery Act funds have and will continue to bring opportunities to higher education over the next two years. Your organization can enjoy the benefits and depend on our single audit team for help with the A-133 reporting requirements.