The Coronavirus Aid, Relief, and Economic Security Act (the “关心行为”) and related federal programs provided vital funding to organizations across the U.S. – including not-for-profit, governmental, and for-profit entities. If total federal award expenditures related to certain programs exceeded $750,每一财政年度可领取000英镑, your entity will be required to have a single audit in accordance with 45 CFR 75.
While specific guidance regarding compliance testing of COVID-19 related funding is expected to be provided in an addendum to the Office of Management and Budget (OMB) 2020合规补充 this fall, there are steps an entity can be taking now to prepare for its single audit.