Pub. 3 2021 Issue 2

M A R C H / A P R I L 2 0 2 1 20 nebraska cpas DID COVID THROW YOU INTO A SINGLE AUDIT? BY MARK PRIEBE , AND AMY BALES , NON-FEDERAL AUDIT TEAM, U.S. DEPARTMENT OF EDUCATION OFFICE OF INSPECTOR GENERAL Since the beginning of the coronavirus pandemic, Congress has passed several acts that fund COVID-19 federal awards. Among them are the Coronavirus Aid, Relief, and Economic Security Act (CARES Act); the Paycheck Protection Program and Health Care Enhancement Act; the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA); and the American Rescue Plan. When a non-federal entity expends $750,000 or more of federal awards (either direct or indirect awards) in their fiscal year, a single audit is required under Subpart F of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). With the inf lux of grant aid, many entities that were under the audit threshold will find themselves for the first time in many years required to have a single audit. COVID-19 Programs Some programs created by these acts with single audit implications include: • Provider Relief Fund—Assistance Listing 93.498 • Coronavirus Relief Fund—Assistance Listing 21.019 • Education Stabilization Fund—Assistance Listing 84.425 (with separate alpha codes to differentiate the grant award type) Some new programs, like the Paycheck Protection Loan Program, are not subject to single audit. The assistance listing at https://beta. sam.gov will tell you whether the program is subject to Uniform Guidance, including the single audit requirements in Subpart F. Many existing programs received additional funds to help with the pandemic, and these extra funds will increase the likelihood