Single Audit Services
At Anstiss & Co., we have extensive experience in A-133 audits, as called a single audit. All government and non-profit entities that expend more than $500,000 a year in federal funds are required by the Office of Management and Budget (OMB) to submit to a single audit.
The Anstiss & Co. team is highly qualified to perform the entire single audit process, including both the financial and compliance components. Our team of qualified accountants provides over 45 years of experience dealing with specialty audits. There is no mistaking the sense of confidence you’ll receive working with Anstiss & Co.
Organizations receiving federal funds are required to maintain effective internal controls system, which focuses on the following five areas:
- Control activities
- Risk assessment
- Monitoring
- Information and communications
- Control environment
ARRA Tightening Restrictions and Regulations
For all entities receiving funds under The American Recovery and Reinvestment Act, a strict set of guidelines has been established increasing the amount of data to be reported and analyzed. The level of transparency required turns a standard single audit into a much more complicated process with much higher risk, and calls for greater expertise to satisfy OMB Circular A-133 standards.
A single audit performed by Anstiss & Co. will thoroughly answer the questions asked by the government regulatory committee including:
- How many jobs have you created using ARRA funds?
- Are you creating any new programs with the allotted funds?
- What new projects are being supported by ARRA financing?
As a part of the audit process, Anstiss & Co. will perform a test of your internal controls.
Because Anstiss & Co. is a member of the AICPA Government Audit Quality Center, we have an in-depth understanding of all laws and regulations associated with the use of ARRA funds. This expertise, coupled with our commitment to providing the best value for our clients, makes Anstiss & Co. the easy choice to handle you’re A-133 audits.
Our Quality Commitment
As a member of the American Institute of CPAs Governmental Audit Quality Center, our audit firm is committed to adhering to the highest quality standards by voluntarily agreeing to the Center membership requirements, which include designating a partner responsible for the quality of our audit practice, establishing quality control programs, performing annual internal inspection procedures, and making our peer review report findings publicly available.
At Anstiss & Co., our goal is to continue to enhance our quality initiatives within our audit firm to deliver the highest quality accounting services possible.
To learn more about how our services can help you, call our Lowell, Massachusetts offices today at (978) 452-2500 or fill out our online contact form.
