A-133 & MAPP Audits
When an organization expends $500,000 or more of federal funds, grants or awards, they are required to undergo an annual audit. It is an organization-wide examination of financial and compliance components to provide oversight and assurance that funds are being managed and used appropriately. Each organization is unique and the complexities of funding sources in every situation generate variations of required financial examination and compliance components. The auditor will be able to determine the variations and ensure a complete and accurate audit as required for a specific organization.
There are several reasons that an organization may be required to undergo an audit, including but not limited to receiving federal funds in excess of $500,000, a request by the Board of Directors, a stipulation of a particular grant application or for other reasons. At times a review of an organization's financials may be in order. A discussion with a CPA will help determine the most appropriate time and method of putting compliance and oversight measures in place. A CPA will also be able to help you understand the requirements of Federal (A-133) and State (MAPP) compliance.
Our auditing professionals work with a number of non-profit sectors, including:
-
Community service agencies
- Social service agencies
- Arts & entertainment organizations
- Trade associations
Government Auditing Standards (Yellow Book)
When conducting an A-133 "single audit", we follow yellow book standards. The five general standards include:
- Independence
- Due Care
- Continuing Professional Education (CPE)
- Supervision
- Quality Control
The auditing professionals at Austin Associates take great care in complying with established standards and undergo a peer review process to ensure that compliance is continuously met. To review a copy of our latest Peer Review, please CLICK HERE.