Single Audit Changes

On December 26, 2013, the Office of Management and Budget (OMB) issued changes to the (A-133) Single Audit requirements.   Some of the major changes, which are effective for years beginning on or after January 1, 2015 include:

  • The threshold for requiring a Single Audit increased from $500,000 in federal expenditures to $750,000.
  • Type A/B program threshold increased from $300,000 to $750,000 for organizations with less than $25 million in federal expenditures.
  • The percentage of expenditures that must be tested as major programs was reduced from 25% to 20% for low-risk auditees, and from 50% to 40% of federal expenditures for other auditees.
  • The threshold for reportable questioned costs has been increased from $10,000 to $25,000.

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