A-133 Single Audit 2 CFR 200

1. A-133 Single Audit 2 CFR 200 Presented by- Earnest Smith Auditor MRPBS-FMD-RAB

2. A-133 Single Audit Criteria… • Circular 2 CFR Subpart F A-133 requires entities that expend $750,000 or more in a year, in Federal awards, shall have a single audit or program-specific audit conducted for that year. The Form SF-SAC, and a reporting package, must be sent to the Federal Audit Clearinghouse.

3. A-133 Single Audit Criteria Continued… • States are familiar with this requirement as the application process, specifically, the SF-424B, Assurances- Non-Construction Programs, number 17 State: “Will cause to be performed the required financial and compliance audits in accordance with the Single Audit Act Amendments.” Others, such as Contractors, Boards, and Individuals must be reminded.

4. How to Obtain an A-133 Single Audit:RAB employs several methods in obtaining these audits. • During desk and onsite reviews, RAB will make a request that the cooperator provide a link to their state auditors website or the issued report. • The Federal Audit Clearinghouse.Instructions for login information will be posted ASC’s website. • 200.512 requires agencies and pass-through entities to obtain Single Audit reports from the Federal Audit Clearinghouse rather than from the recipient or sub-recipient.

5. What to Look For: AnA-133 audit report can be an effective and valuable method for monitoring a recipient’s financial performance, particularly with regard to the adequacy of internal controls and the extent of its compliance with Federal laws and regulations.

6. What to Look For Continued… In the Table of Contents you will find among other entries, the following; • Schedule of Expenditures of Federal Awards • Schedule of Audit Findings and Questioned Costs • Internal Control over Compliance Required by OMB Circular A-133

7. What to Look For Continued… A brief explanation for each of specific items within the Table of Contents follow; • Schedule of Expenditures of Federal Awards. The Schedule of Expenditures of Federal Awards will be listed by CDFA including, name of the awarding Agency, dollar amount of each award, and the total Federal award activity of the Cooperator for the period reported.

8. What to Look For Continued… A brief explanation for each specific item within the Table of Contents follow; • Schedule of Audit Findings and Questioned Costs. This section will identify the specific rule, regulation, or procedure failure and document the associated activity. • Internal Control over Compliance Required by OMB Circular A-133. This section explains the scope of the auditor’s testing of the Cooperator’s internal control over financial reporting.

9. Areas of Consideration for Discussions with the Cooperator • The summary schedule of prior audit findings. This summary will report the status of audit findings in the present report as well as unresolved findings from prior audits. • Corrective actions taken by the Cooperator will also be discussed. • Should the report indicate weaknesses in internal controls over Federal programs, this would be an indication of a higher risk cooperator.

10. Thank you Send questions to: Earenst.Smith@aphis.usda.gov