As part of our Annual Single Audit, the University of Colorado Boulder is currently undergoing an external audit of our research and development (R&D) expenses and compliance. This process began in ...

The American Institute of CPAs has released an analysis of single audits and found several factors contribute to audit quality, indicating why some firms are having problems doing the audits.

Many companies have benefited from federal government relief acts and programs such as the American Rescue Plan or the Provider Relief Funds during the pandemic. But if they are a nonfederal entity ...

On April 22, 2024, the Office of Management and Budget (OMB) made some important changes to its Uniform Guidance on Single Audits. If your nonprofit receives federal grants, keep reading to see if ...

The timing and content of key yearly federal guidance provided to single audit practitioners needs to be more responsive to auditors’ input and needs, according to a U.S. Government Accountability ...

An audit is a formal check of financial accounts of an individual, business or organization. An internal audit is conducted by members of the same organization or business, and an external audit may ...

The massive influx of federal relief funding in response to the COVID-19 pandemic has created many audit challenges. There are new programs subject to single audits, along with existing programs ...

An audit can be an unpleasant surprise, or it can be a welcome opportunity to get your organization's affairs in order. While some audits – such as those performed by the IRS – come as a surprise, ...

For years, the relationship between the Bureau of Internal Revenue (BIR) and the taxpayer has been fraught with stress, uncertainty, and administrative friction. Many business owners start their day ...

Internal Audit identifies all auditable activities and relevant risk factors, and assesses their significance through an annual risk assessment, utilizing the Committee of Sponsoring Organization's ...

Financial risks focus on managing the risks of potential loss of physical assets and financial resources. Business risks include contracts, cash and investments, revenue, and inventory. Operational ...