Uniform Guidance for Single Audits

Free CPA AUD (Auditing & Attestation) lesson in Performing Further Procedures and Obtaining Evidence. 13 min read, ~1,973 words.

Threshold: \$1,000,000 or more in federal awards expended in the fiscal year, aggregated across direct, pass-through, loans outstanding, and noncash awards (2 CFR 200.501). Major programs use a four-step risk-based approach: Type A vs Type B, low-risk Type A test, high-risk Type B, and a percentage-of-coverage floor of 40% (20%...