BDO Knows Single Audits

As a result of the coronavirus pandemic, many organizations applied for and received federal funds for the first time (or are planning to). And with that, comes additional compliance requirements. If your organization spends more than $750,000 in federal funds during a fiscal year – a Single Audit is required. This audit is intended to ensure the federal funds are spent properly and must be conducted by an independent auditor.

Please note: Paycheck Protection Program (PPP) funds are not subject to the single audit requirement.

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DUE DATE

Typically, the Single Audit reporting package must be submitted within 30 calendar days after receiving the auditor’s report or nine months after your fiscal year end, whichever comes first.

UPDATE: The Office of Management and Budget (OMB) issued OMB Memo M-21-20 on March 19, 2021, which provided guidance on an extension of the due date for Single Audit submissions. Organizations with fiscal year ends through June 30, 2021 have been granted an extension to delay the completion and submission of their Single Audit reporting package for up to six months beyond the normal due date. This extension does not need to be approved by the awarding agency.

The chart below provides the due dates for select fiscal year ends. Please review our Single Audit Readiness Checklist available through our Assessment for a complete list of due dates.

Single Audit Extensions

Fiscal Year End	Normal Due Date*	Extended Due Date*
June 30, 2020	March 31, 2021	Sept. 30, 2021
December 31, 2020	Sept. 30, 2021	March 31, 2022

* Per the Uniform Guidance, if the due date falls on a Saturday, Sunday, or Federal holiday, the reporting package is due the next business day. Dates in these columns have been adjusted accordingly, if applicable.

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