Federal grants are often an important source of funding for your not-for-profit organization. Our single audit team will provide the high quality guidance and reporting you need to comply with the government’s increased demands for transparency and accountability. Our 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 organization’s decisions, policies, and procedures concerning federal funds, minimizing the likelihood of unallowable activities or compliance issues.
Not-for-profit single audit expertise
Plante Moran is the second largest provider of single audits, serving not-for-profit organizations throughout the nation. Our team files more than 600 single audits annually, and the annual expenditures for programs audited range from $750,000 to $1 billion.
Single audits tell the public how you spend federal money
There is increasing demand for accountability and transparency in not-for-profit financial reporting. A single audit takes a close look at how the organization complies with the complex federal regulations associated with each federal grant. The information in your single audit is also available to the public. Why is this important to you? Research finds that grantors, both public and private, are looking at these kinds of reports to assess the effectiveness of not-for-profits and could use the information to evaluate your requests for funding in the future.
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 not-for-profit 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.