Currently, a single audit is required for organizations receiving what amount of federal funds?
A) $100,000.
B) $375,000.
C) $500,000.
D) $750,000.

Question

Currently, a single audit is required for organizations receiving what amount of federal funds?
A) > $100,000.
B) > $375,000.
C) > $500,000.
D) > $750,000.

Quizplus · Accepted Answer

Entities that expend $750,000 or more in federal awards in a fiscal year have either a single audit when several grantors are involved or a program-specific audit usually when only one grantor is involved).

Currently, a Single Audit Is Required for Organizations Receiving What