{"id":4207,"date":"2025-04-22T12:20:54","date_gmt":"2025-04-22T12:20:54","guid":{"rendered":"https:\/\/www.acobloom.com\/us\/?p=4207"},"modified":"2025-09-09T11:12:20","modified_gmt":"2025-09-09T11:12:20","slug":"single-audit-guide-us-cpa-firms","status":"publish","type":"post","link":"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/","title":{"rendered":"Single Audit Guide for U.S CPA Firms in 2025"},"content":{"rendered":"\n<p>Navigating compliance as a recipient of federal funding is no small task. For U.S. businesses, especially those that receive grants or assistance from federal agencies, undergoing a single audit is not just a formality\u2014it\u2019s a critical requirement to maintain eligibility and uphold accountability. This single audit guide offers a detailed breakdown of everything CPA firms needs to know, from audit fundamentals to advising preparation strategies to Business, and how <a href=\"https:\/\/www.acobloom.com\/us\/services\/audit-support-outsourcing\/\">audit support outsourcing<\/a> can make the entire process more efficient and less stressful.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_50 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\" role=\"button\"><label for=\"item-69f71c6fb5fd8\" aria-hidden=\"true\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-69f71c6fb5fd8\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#What_is_a_Single_Audit\" title=\"What is a Single Audit?\">What is a Single Audit?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#Why_Single_Audits_Matter_in_2025\" title=\"Why Single Audits Matter in 2025\">Why Single Audits Matter in 2025<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#Who_is_Subject_to_a_Single_Audit\" title=\"Who is Subject to a Single Audit?\">Who is Subject to a Single Audit?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#The_Single_Audit_Process_Step-by-Step\" title=\"The Single Audit Process: Step-by-Step\">The Single Audit Process: Step-by-Step<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#1_Pre-Audit_Planning\" title=\"1. Pre-Audit Planning\">1. Pre-Audit Planning<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#2_Fieldwork_Testing\" title=\"2. Fieldwork &amp; Testing\">2. Fieldwork &amp; Testing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#3_Reporting\" title=\"3. Reporting\">3. Reporting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#4_Post-Audit_Follow-Up\" title=\"4. Post-Audit Follow-Up\">4. Post-Audit Follow-Up<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#Common_Single_Audit_Findings_in_2025\" title=\"Common Single Audit Findings in 2025\">Common Single Audit Findings in 2025<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#Why_US_CPA_firms_Are_Turning_to_Audit_Support_Outsourcing_in_2025\" title=\"Why U.S. CPA firms Are Turning to Audit Support Outsourcing in 2025\">Why U.S. CPA firms Are Turning to Audit Support Outsourcing in 2025<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.acobloom.com\/us\/blog\/single-audit-guide-us-cpa-firms\/#How_AcoBloom_Supports_Single_Audits\" title=\"How AcoBloom Supports Single Audits\">How AcoBloom Supports Single Audits<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" style=\"font-size:21px\"><span class=\"ez-toc-section\" id=\"What_is_a_Single_Audit\"><\/span>What is a Single Audit?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A single audit, formerly known as the OMB Circular A-133 audit, is a detailed review of how organizations manage federal funds. It is typically required for entities that expend $750,000 or more in federal awards during a fiscal year. This audit goes beyond typical financial statement reviews by also assessing compliance with specific federal regulations, statutes, and award terms.<\/p>\n\n\n\n<p>It ensures compliance with the Uniform Guidance (2 CFR Part 200) and focuses on both financial statements and federal award management. Initiated under <strong>OMB\u2019s Uniform Guidance (2 CFR Part 200, Subpart F)<\/strong>, a single audit is designed to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Determine if federal funds were used properly,<\/li>\n\n\n\n<li>Identify internal control weaknesses,<\/li>\n\n\n\n<li>Evaluate compliance with federal program rules,<\/li>\n\n\n\n<li>Report findings to the <strong>Federal Audit Clearinghouse (FAC)<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>While originally developed for government and nonprofit sectors, many <strong>U.S. businesses<\/strong>, especially those in R&amp;D, infrastructure, health, or education, now regularly receive federal assistance and thus fall within the scope of the audit.<\/p>\n\n\n\n<style>\n    .cta-section {\n        background: #060E4B;\n        color: white;\n        padding: 30px 30px;\n        text-align: center;\n        border-radius: 15px;\n        box-shadow: 0 8px 15px rgba(0, 0, 0, 0.2);\n        margin: 50px auto;\n        max-width: 1100px;\n    }\n    .cta-section h2 {\n        font-size: 32px;\n        font-weight: bold;\n        margin-bottom: 20px;\n        line-height: 1.2;\n        color: white;\n    }\n    .cta-section p {\n        font-size: 16px;\n        margin-bottom: 25px;\n        line-height: 1.5;\n        color: white;\n        text-align: center;\n    }\n    .cta-section .btn {\n        background-color: #F35E25;\n        color: white;\n        border: none;\n        padding: 15px 30px;\n        font-weight: bold;\n        border-radius: 50px;\n        transition: all 0.3s ease;\n        cursor: pointer;\n        text-decoration: none;\n        display: inline-block;\n    }\n    .cta-section .btn:hover {\n        background-color: #F35E25;\n        transform: scale(1.05);\n    }\n    .cta-section .highlight {\n        color: #F35E25;\n        font-weight: bold;\n    }\n\n    \/* Popup Styles *\/\n    .popup-overlay {\n        display: none;\n        position: fixed;\n        top: 0;\n        left: 0;\n        width: 100%;\n        height: 100%;\n        background: rgba(0, 0, 0, 0.5);\n        justify-content: center;\n        align-items: center;\n    }\n    .popup-content {\n        background: #fff;\n        padding: 20px;\n        border-radius: 10px;\n        max-width: 400px;\n        width: 90%;\n        position: relative;\n        text-align: center;\n    }\n    #close-popup {\n        position: absolute;\n        top: 10px;\n        right: 15px;\n        font-size: 20px;\n        cursor: pointer;\n        color: #333;\n    }\n\np.headpop {\n    color: #E36F25;\n    font-size: 28px;\n    font-weight: bold;\n    text-align: center;\n font-family: 'Roboto', sans-serif; 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In 2025, federal agencies have tightened oversight mechanisms to ensure funds are spent according to federal regulations.<\/p>\n\n\n\n<p><strong>Failing to pass a single audit or addressing findings inadequately can lead to:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Withheld future funding,<\/li>\n\n\n\n<li>Repayment of funds,<\/li>\n\n\n\n<li>Public disclosure of audit findings,<\/li>\n\n\n\n<li>Legal consequences in severe cases.<\/li>\n<\/ul>\n\n\n\n<p>For businesses seeking to expand through government-funded projects or partnerships, a clean audit report is a signal of strong compliance and credibility.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_is_Subject_to_a_Single_Audit\"><\/span>Who is Subject to a Single Audit?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Under the Uniform Guidance, your organization must undergo a single audit if:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Businesses expend (not just receive) <strong>$750,000 or more<\/strong> in federal awards in a fiscal year,<\/li>\n\n\n\n<li>Funds come directly from federal agencies or through a <strong>pass-through entity<\/strong> (e.g., state or local governments).<\/li>\n<\/ul>\n\n\n\n<p><strong>This includes:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Private businesses contracting with the federal government,<\/li>\n\n\n\n<li>Research firms funded through NIH or NSF grants,<\/li>\n\n\n\n<li>Construction and infrastructure companies handling federally supported projects,<\/li>\n\n\n\n<li>Healthcare organizations receiving HHS funding,<\/li>\n\n\n\n<li>Educational and training providers involved in workforce development programs.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"The_Single_Audit_Process_Step-by-Step\"><\/span>The Single Audit Process: Step-by-Step<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Understanding the full lifecycle of a single audit can help CPA firms to conduct such audits effectively and efficiently.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"804\" height=\"325\" src=\"https:\/\/www.acobloom.com\/us\/wp-content\/uploads\/2025\/04\/The-Single-Audit-Process_-Step-by-Step-visual-selection.png\" alt=\"\" class=\"wp-image-4220\" srcset=\"https:\/\/www.acobloom.com\/us\/wp-content\/uploads\/2025\/04\/The-Single-Audit-Process_-Step-by-Step-visual-selection.png 804w, https:\/\/www.acobloom.com\/us\/wp-content\/uploads\/2025\/04\/The-Single-Audit-Process_-Step-by-Step-visual-selection-300x121.png 300w, https:\/\/www.acobloom.com\/us\/wp-content\/uploads\/2025\/04\/The-Single-Audit-Process_-Step-by-Step-visual-selection-768x310.png 768w\" sizes=\"auto, (max-width: 804px) 100vw, 804px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:18px\"><span class=\"ez-toc-section\" id=\"1_Pre-Audit_Planning\"><\/span>1. <strong>Pre-Audit Planning<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>This phase involves:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Assembling all federal award documentation,<\/li>\n\n\n\n<li>Reviewing grant agreements,<\/li>\n\n\n\n<li>Evaluating internal controls and compliance processes,<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:18px\"><span class=\"ez-toc-section\" id=\"2_Fieldwork_Testing\"><\/span>2. <strong>Fieldwork &amp; Testing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Auditors should assess:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Organization\u2019s <strong>financial statements<\/strong>,<\/li>\n\n\n\n<li>Internal control systems over federal funds,<\/li>\n\n\n\n<li>Compliance with <strong>program-specific requirements<\/strong> (e.g., cost allowability, procurement, time and effort reporting),<\/li>\n\n\n\n<li>Sample transactions related to grants.<\/li>\n<\/ul>\n\n\n\n<p>This phase may include interviews, walkthroughs, and document sampling.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:18px\"><span class=\"ez-toc-section\" id=\"3_Reporting\"><\/span>3. <strong>Reporting<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The auditor prepares a <strong>Single Audit Report<\/strong>, which includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Financial statements,<\/li>\n\n\n\n<li>Schedule of expenditures of federal awards (SEFA),<\/li>\n\n\n\n<li>Auditor\u2019s opinion on compliance,<\/li>\n\n\n\n<li>Schedule of findings and questioned costs (if any),<\/li>\n\n\n\n<li>Management responses and corrective actions.<\/li>\n<\/ul>\n\n\n\n<p>The final report must be submitted to the <strong>Federal Audit Clearinghouse<\/strong> within <strong>30 days of receipt<\/strong> or <strong>9 months after the fiscal year-end<\/strong>, whichever is earlier.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:18px\"><span class=\"ez-toc-section\" id=\"4_Post-Audit_Follow-Up\"><\/span><strong>4. Post-Audit Follow-Up<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>If there are findings:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Client must submit a <strong>Corrective Action Plan (CAP)<\/strong>,<\/li>\n\n\n\n<li>Implement control or policy changes,<\/li>\n\n\n\n<li>Monitor corrective action progress for future compliance.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Common_Single_Audit_Findings_in_2025\"><\/span>Common Single Audit Findings in 2025<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Based on recent reports, businesses often struggle with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Lack of documented policies<\/strong> around procurement, subrecipient monitoring, and cost allocation,<\/li>\n\n\n\n<li><strong>Weak or missing internal controls<\/strong> over grant transactions,<\/li>\n\n\n\n<li><strong>Improper time and effort reporting<\/strong> for staff funded by federal grants,<\/li>\n\n\n\n<li><strong>Late or inaccurate SEFA reporting<\/strong>,<\/li>\n\n\n\n<li><strong>Inadequate response to prior audit findings<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>These findings can jeopardize future funding and raise red flags for oversight bodies. Preventing these issues requires planning.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Why_US_CPA_firms_Are_Turning_to_Audit_Support_Outsourcing_in_2025\"><\/span>Why U.S. CPA firms Are Turning to Audit Support Outsourcing in 2025<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>As compliance requirements grow more complex and audit resources stay limited, <strong>audit support outsourcing<\/strong> is becoming increasingly popular. It involves hiring Audit support outsourcing companies such as AcoBloom to manage key aspects of audit preparation and support.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" style=\"font-size:18px\"><span class=\"ez-toc-section\" id=\"How_AcoBloom_Supports_Single_Audits\"><\/span><strong>How AcoBloom Supports Single Audits<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>At AcoBloom International, we partner with CPA firms across the United States to deliver scalable and high-quality <strong>Audit Co-Sourcing Services<\/strong>, designed specifically to meet the rigorous demands of <strong>Single Audits<\/strong>.<\/p>\n\n\n\n<p>With a seasoned team of audit professionals, AcoBloom integrates seamlessly with your internal teams to provide end-to-end support that includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Specialized Support for Federal Audits<\/strong><br>We assist in all phases of Single Audit engagements\u2014covering sampling, internal control evaluations, test of controls, and compliance documentation.<\/li>\n\n\n\n<li><strong>Accurate &amp; Compliant Documentation<\/strong><br>Our team prepares detailed workpapers, lead schedules, and compliance checklists that adhere to federal standards, including the Uniform Guidance (2 CFR Part 200).<\/li>\n\n\n\n<li><strong>Grant-Specific Audit Procedures<\/strong><br>From expenditure testing to internal control assessments, we ensure a thorough understanding and execution of grant compliance requirements.<\/li>\n\n\n\n<li><strong>Peak Season Flexibility<\/strong><br>We help CPA firms manage busy seasons by expanding audit capacity without adding fixed overhead\u2014maintaining quality and deadlines with ease.<\/li>\n\n\n\n<li><strong>Consistent, Cost-Effective Delivery<\/strong><br>Our co-sourcing model provides CPA firms with reliable, high-quality outputs at competitive costs, improving efficiency and reducing turnaround time.<\/li>\n<\/ul>\n\n\n\n<p>By choosing AcoBloom, CPA firms gain a dependable audit partner capable of enhancing internal capabilities, ensuring regulatory compliance, and maintaining the highest standards of audit excellence.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Navigating compliance as a recipient of federal funding is no small task. For U.S. businesses, especially those that receive grants or assistance from federal agencies, undergoing a single audit is not just a formality\u2014it\u2019s a critical requirement to maintain eligibility and uphold accountability. This single audit guide offers a detailed breakdown of everything CPA firms [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,63],"class_list":["post-4207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-audit","tag-single-audit","tag-single-audit-guide"],"_links":{"self":[{"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/posts\/4207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/comments?post=4207"}],"version-history":[{"count":0,"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/posts\/4207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/media\/4216"}],"wp:attachment":[{"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/media?parent=4207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/categories?post=4207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.acobloom.com\/us\/wp-json\/wp\/v2\/tags?post=4207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}