Single Audits Under the Uniform Guidance

The document outlines key changes affecting single audits under the Uniform Guidance (UG), as presented by representatives from PWC, AICPA, and KPMG. The main areas of change include adjustments to the identification of major programs, an increased emphasis on internal control procedures, and updates reflected in the 2017 Compliance Supplement. Specifically, for Student Financial Aid programs, there is a continued requirement for annual audits alongside heightened attention to information security protocols. Additionally, the document highlights a broader focus on audit quality, emphasizing the accuracy and thoroughness of audit findings, the necessity of comprehensive internal control testing, and the importance of Quality Control Reviews. These changes collectively aim to strengthen the integrity and reliability of single audits in compliance with federal requirements.