Finding Text
Criteria: The Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards 2 CFR 200 (Uniform Guidance), requires auditees to submit their audit report to the Federal Audit Clearinghouse within the earlier of 30 days of the audit report date or within nine months of the auditee’s year end. Condition: The Organization did not submit its audit report to the Federal Audit Clearinghouse by the March 31, 2024 deadline. Effect: The Organization did not comply with the single audit submission deadline. Cause: The June 30, 2023 year end was the first year in which the Organization received federal awards exceeding the threshold requiring a single audit and the first year in which a financial audit was conducted. The search for and engagement of an auditor to conduct the required audits took a considerable amount of time, which resulted in a late start to the audit process. Despite significant effort, there was not enough time to properly conduct, complete, and submit the single audit. Recommendation: The Organization should implement processes to ensure that the annual audits are completed timely by identifying and engaging an auditor either prior to or shortly after year end to allow for the conduct and completion of the audit in the allowed time.