Many organizations are receiving funding in response to the COVID-19 pandemic and through other legislation and becoming subject to single audit rules for the first time. If your organization is in this situation, there are many considerations. This GAQC checklist tool is intended to provide tips and reminders to organizations becoming subject to single audit rules. Among the topics included are:
How to know when you need a single audit
Understanding your funding and the related compliance requirements
Internal control considerations including where to look for guidance on examples of controls
Considerations when looking to engage a qualified auditor