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.
Corrective Action Plan
The Organization agrees with this finding and will monitor future compliance by ensuring timely submission whenever possible.