The identification and retention of federal grants is a high priority for higher education institutions, and the complexities surrounding the receipt of this revenue is rapidly increasing. In this environment of increased oversight, it is more important than ever to find qualified auditors who have significant experience and can ensure the quality of your single audit.
Our single audit team will provide the high-quality guidance and reporting that you need to comply with increased demands for transparency and accountability. Our higher education single audit specialists will review your internal controls to ensure they are based on the appropriate framework required for compliance and verify all required information for reporting. We will validate your institution’s decisions, policies, and procedures concerning federal funds, minimizing the likelihood of unallowable activities or compliance issues.
Single audit expertise
We are the second largest provider of single audits, filing more than 600 single audits annually, and the annual expenditures for government programs audited range from $750,000 to $1 billion.
Keeping up on changes to uniform guidance
The Office of Management and Budget (OMB) recently issued the uniform administrative requirements, cost principles, and audit requirements for federal awards to streamline and consolidate grants guidance previously contained in eight different circulars into 2 CFR Part 200, otherwise known as the uniform guidance (UG). This became effective during the 2015 calendar year, and will continue to impact organizations on a transitional basis as new awards and funding increments are received. Our compliance audit specialists have closely analyzed the new OMB reforms, providing in-depth training to our staff. We’re well-versed in every aspect of this extensive new guidance and will assist your transition to the new reforms.
How will you benefit from our single audit experience?
- Active involvement = added value. As a charter member of the AICPA Governmental Audit Quality Center (GAQC), and an invited member of the GAQC executive committee and the AICPA Single Audit Roundtable, we are afforded an advanced view of changes that impact the compliance audit before issues are distributed to the public. This knowledge positions you to better plan for the impact of changes coming down from the federal level.
- Key relationships. Our significant relationships with the AICPA, OMB, HUD, education, EPA, and other federal agencies provide us with a fine-tuned understanding of compliance requirements and the ability to get quick answers to difficult compliance-related questions.
- Tailored, proprietary compliance audit programs. Our programs and tools enable an efficient audit, with less time spent responding to questions that may not apply to the specific grant at hand.
- Training & tools to ease the burden of implementation. We proactively educate our clients on upcoming changes via meetings, trainings, proprietary checklists and tools, articles, and webinars.
- Highly trained, experienced staff. Our experts frequently conduct training sessions at conferences and on webinars, sponsored by the AICPA, federal organizations, and state CPA societies. Our knowledgeable, accessible staff provide quick answers and perform audit procedures as efficiently as possible without wasting your staff's valuable time.