SINGLE AUDIT (OMB CIRCULAR A-133 AUDIT)
Single Audit (OMB Circular A-133 Audit)
The Single Audit Act Amendments of 1996 (OMB Circular A-133 Audit) were enacted to streamline and improve the effectiveness of audits of federal awards expended by states, local governments, and not-for-profit entities (referred to as non-federal entities), as well as to reduce audit burden. The A-133 Audit Act requires these audits, referred to as “single audits” to be conducted by an independent auditor. Single audits have a significant public interest component as they are relied on by federal agencies as part of their administrative responsibilities for determining compliance with the requirements of federal awards by non-federal entities.
The SD Mayer Advantage
SD Mayer & Associates is the recognized leader in single audits for nonprofit organizations, states and local governments. Single audits (compliance supplement) are required for entities that receive federal awards exceeding $750,000 annually, in accordance with the Single Audit Act and OMB Circular A-133.
Our team has extensive experience conducting audits, and we are thoroughly familiar with all of the applicable laws, regulations and OMB Circular A-133 compliance requirements, as well as the funding sources of our clients’ programs.
Our approach includes:
Risk-Focused Analysis: Move the focus of the audit from the balance sheet to the objectives and strategies of your organization, risks that impact them and key processes that manage them.
Value-Added Service: Expert business advice based on best practices and industry-specific organization.
A-133 Audit Optimization With Technology: Our state-of-the-art technology solutions offer an enhanced audit experience throughout the process, while bolstering efficiences. All work is stored electronically, using the most widely available audit software.