Single Audits: Planning and Risk Assessment

Free CPA AUD (Auditing & Attestation) lesson in Assessing Risk and Developing a Planned Response. 12 min read, ~1,825 words.

Single audit triggers when a non-federal entity expends $1,000,000 or more in federal awards in a fiscal year (Uniform Guidance, 2 CFR 200 Subpart F). Major programs are selected by a risk-based approach: identify Type A and Type B by size, then assess each for risk. Type A programs exceed...