If your nonprofit expends more than $500,000 per year in federal awards, then your organization is required to obtain a Single Audit in accordance with OMB Circular A-133. Single audits allow the federal government to monitor how federal funds are managed by their recipients and to ensure they are properly spent on grant programs.
As a public accounting firm specializing in nonprofits, Tate & Tryon has significant experience performing Single Audits. This experience includes auditing organizations that receive funding from government agencies such as the Departments of Labor, Health, and Human Services, Education, Agriculture, and Housing and Urban Development.
Tate & Tryon understands that each contract/grant agreement is unique. Therefore, our professionals employ a tailored approach to conducting the audit that allows them to adjust their audit procedures to match each client’s unique compliance requirements. We work closely with clients to help them understand the complex compliance areas and provide resources to assist in setting up documentation. In addition, we also work with management during the audit to develop reasonable corrective actions if needed, including identifying areas where internal controls can be strengthened with respect to federal programs.
Clients turn to us for assistance because of our exclusive focus on the nonprofit industry. The Firm's partners, professionals, and staff receive continuous training on the latest rules, regulations and audit techniques to facilitate a more efficient and effective audit process. Tate & Tryon is also a member of the AICPA’s Government Audit Quality Center which adds an additional layer of training and insight for our staff.