Single Audits and Uniform Guidance: Implementing OMB's 2025 Supplement, Avoiding Common Audit Deficiencies

This webinar will provide CPAs with a comprehensive update on single audits under the Uniform Guidance (2 CFR Part 200) in light of the release of the 2025 OMB Compliance Supplement. Our audit and assurance professional will discuss how new thresholds, revised compliance requirements, and transition rules affect audit planning, major program determination, and compliance testing for governmental entities, nonprofits, institutions of higher education, and other recipients/subrecipients of federal awards.

2024 Uniform Guidance updates included significant increases to single audit thresholds:

• Single audit threshold increased from $750,000 to $1,000,000 for federal expenditures 

• Type A program threshold increased from $750,000 to $1,000,000, directly affecting major program determination.

• Equipment capitalization threshold increased from $5,000 to $10,000.

The new guidance is incorporated in the 2025 OMB Compliance Supplement and is effective for fiscal years beginning on or after Oct. 1, 2024.

In addition to Uniform Guidance, auditors must consider the professional standards environment, including GAAS and GAGAS/Yellow Book requirements. Certain areas are frequently cited in single audit oversight and peer review, such as major program determination, low-risk auditee criteria, internal control over compliance, and reporting, including Schedule of Expenditures of Federal Awards (SEFA). CPAs auditing governmental entities need to understand how to structure internal control assessments, evaluate the accuracy of the SEFA, and appropriately document single audit engagements while maintaining efficiency.  

Listen as our veteran auditor explains recent updates to the Uniform Guidance and the Compliance Supplement, demonstrates how to incorporate these changes into the audit plan, and shares practical strategies to reduce common single audit deficiencies.