Answer: Non-Profit Organizations must submit their financial statement audit to the Federal Audit Clearinghouse as part of the Single Audit process.
Trend: Compliance with the Uniform Guidance is increasingly scrutinized, making timely submissions critical.
List: Ensure audits are completed and submitted to avoid penalties and maintain eligibility for federal funding.
Finding Text
The Uniform Guidance issued by the Office of Management & Budget requires Non-Profit Organizations undergoing a Single Audit must submit their financial statement audit to the Federal Audit Clearinghouse.