Audits of Federal Awards TSlade
If your nonprofit expends more than $750,000 per year in federal awards, then your organization is required to obtain a Single Audit in accordance with the Uniform Guidance.
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 most government agencies.
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.
Tate & Tryon is a proud member of the AICPA Governmental Audit Quality Center.
By: Christian Spencer, CPA, Partner During 2016 a large number of nonprofit organizations received fraudulent e-mail requests to wire funds to fictitious vendors or to bank accounts not associated with legitimate vendors. This fraud scheme, [...]
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Over the past several months, the District of Columbia Unclaimed Property Division (the Division) has been requiring select organizations to perform a self-audit that is intended to identify unclaimed property not reported to the District. [...]