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Wednesday, July 15, 2015

What is an A-133 report?

With regard to below, from Wikipedia

In the United States, the Single Audit, also known as the OMB A-133 audit, is a rigorous, organization-wide audit or examination of an entity that expends $500,000 or more of Federal assistance (commonly known as Federal fundsFederal grants, or Federal awards) received for its operations.[1][2][3] Usually performed annually,[4] the Single Audit’s objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, and non-profit organizations. The audit is typically performed by an independent certified public accountant (CPA) and encompasses both financial and compliance components. The Single Audits must be submitted to theFederal Audit Clearinghouse along with a data collection form, Form SF-SAC

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