Impact 100 - Finance 101 for Non-Profits Deck - Page 33

Yellow Book and Single Audits

• Single Audit required if more than $ 750k in federal awards were expended

• Audit of financial statements and the federal awards ( in accordance with Uniform Grant Guidance )
• Includes direct federal funds and pass-through federal funds

• Other laws , regulations , contracts or agreements may require an audit under Government Auditing Standards ( Yellow Book ) for agencies with less than $ 750k in federal awards expended