Single Audit Glossary
A - B - C - D - E - F - G - H - I - J - K - L - M - N - O - P - Q - R - S - T - U - V - W - X - Y - Z
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Auditee
A non-Federal (non-State) entity that expends Federal (State) awards which must be audited pursuant to the provisions of the Circular (State Single Audit Act).
Audit Finding
A deficiency that the auditor is required to report in the Schedule of Findings and Questioned Costs.
Auditor
A public accountant or a Federal, state, or local government, audit organization which meets the Government Auditing Standards (GAS).
Award
Federal (State) financial assistance (e.g., grants), and Federal (State) cost reimbursement contracts, including awards received from pass-through entities (PTE).
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CFR (see also Uniform Guidance)
The Code of Federal Regulations is the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government produced by the Office of the Federal Register (OFR) and the Government Publishing Office.
Compliance Requirement
A requirement which is applicable to a program and may be included in the compliance supplement requirements for the auditor to test.
Compliance Supplement Policy Official (Federal)
The Federal awarding agency policy official responsible for ensuring that program objectives, procedures and compliance requirements are provided to OMB for inclusion in the Supplement.
Compliance Supplement Agency and Program Contacts (State)
The State awarding agency policy official responsible for ensuring that program objectives, procedures and compliance requirements are provided to the Office of Policy and Management (OPM) for inclusion in the Compliance Manual.
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Federal Audit Clearinghouse (FAC)
An agent of OMB to maintain a government wide database of Federal single audit results and reports.
Financial Statements
Financial statements that reflect the auditee’s financial position, results of operations or changes in net assets, and where appropriate, cash flows for the fiscal year audited.
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Government Auditing Standards (GAS)
Standards for auditing government organizations and programs issued by the United States General Accounting Office and commonly referred to as the “Yellow Book.”
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Internal Control Over Federal (State) Programs
A process, effected by an entity’s management and other personnel, designed to provide reasonable assurance regarding proper accounting and reporting of transactions, compliance with laws and regulations, and safeguarding assets.
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M
Major Program
A program that is being audited.
Management Decision
An evaluation made by the Federal awarding agency or pass-through entity of the audit findings and corrective action plan, and the issuance of a written decision as to what corrective action is needed.
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Non-Federal Entity (NFE)
A state (including federally-recognized Indian tribes), local government, university, or non-profit organization.
Non-State Entity
A municipality, tourism district, audited agency or non-profit agency.
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P
Pass-Through Entity (PTE)
A non-Federal (non-State) entity that provides a Federal (State) award to a subrecipient to carry out a Federal (State) program.
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Recipient
A non-Federal (non-State) entity that expends Federal (State) awards received directly from a Federal awarding agency to carry out a Federal (State) program.
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SF-SAC Form
A data collection form submitted to the Federal Audit Clearinghouse which provides information about the auditor, the auditee and its Federal programs, and the results of the audit.
Single Audit (Federal)
An audit of a non-Federal entity’s financial statements and Federal awards which meets the requirements of the Uniform Guidance.
Single Audit (State)
An audit of a non-State entity’s financial statements and State awards which meets the requirements of the State Single Audit Act.
Single Audit Process (Federal)
The audit process as described in the Uniform Guidance.
Single Audit Process (State)
The audit process as described in the State Single Audit Act.
State Single Audit Act
C.G.S. 4-230 through 4-236 Single Audits And Program-Specific Audits For Recipients Of State Financial Assistance.
Subrecipient
A non-Federal (non-State) entity that expends Federal (State) awards from a pass-through entity to carry out a Federal (State) program; a subrecipient may also be a recipient of other Federal (State) awards directly from a Federal (State) awarding agency.
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Uniform Guidance
On December 26, 2013, OMB released the Uniform Grant Guidance (formally titled 2 CFR Chapter I, Chapter II, Part 200, et al. Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards; Final Rule).
In April 2024, OMB updated and revised the Uniform Grant Guidance. The changes are intended to strengthen and streamline the administration of federal financial assistance. Revisions include clarification and changes to cost principles and audit requirements that apply to grants and subgrants awarded to non-federal entities. These revisions are effective for fiscal years beginning on or after October 1, 2024.
2 CFR Part 200 Subpart E—Cost Principles Pursuant to §200.110(a) - Effective/applicability date, “The standards set forth in this part which affect administration of Federal awards issued by Federal awarding agencies become effective once implemented by Federal awarding agencies or when any future amendment to this part becomes final.”
2 CFR Part 200 Subpart F—Audit Requirements The standards set forth in this part will apply to audits of fiscal years beginning on or after October 1, 2024. One of the major changes included in this part is the audit threshold was increased to $1,000,000 in federal award expenditures.
2 CFR Part 200, Appendix XI — Compliance Supplement 2 CFR part 200, subpart F, describes the non-Federal entity’s responsibilities for managing Federal assistance programs (2 CFR section 200.508) and the auditor’s responsibility with respect to the scope of audit (2 CFR section 200.514). Auditors are required to follow the provisions of 2 CFR part 200, subpart F, and the Supplement.