Nonprofit audit guide
How is a single audit different from a regular audit?
How a federal single audit differs from a regular financial statement audit: scope, standards, opinions and whether it is one engagement or two.
22,398 nonprofit single audits were filed for audit year 2024.
6,728 audit firms observed in FAC filings, as of 2026-11-06.
Data as of 2026-09-20
In short: A single audit contains the financial statement audit and adds compliance work: an opinion on compliance for each major federal program and a report on internal control over that compliance (2 CFR 200.514, 2 CFR 200.515). It is one engagement with more opinions, not a second audit.
How is a single audit different from a regular audit?
| Financial statement audit | Single audit | |
|---|---|---|
| Objective | Are the statements fairly presented? | That, plus did the organization comply with the requirements of its major federal programs? |
| Standards | AICPA auditing standards | GAGAS plus subpart F (200.514(a)) |
| Scope | The organization's financial statements | Entire operations of the auditee, or a series of audits covering the units that administered federal awards |
| Opinions | One, on the statements | On the statements, in relation to the schedule of expenditures of federal awards, and on compliance for each major program (200.515) |
| Extra schedules prepared by management | None required federally | Schedule of expenditures of federal awards, summary schedule of prior audit findings, corrective action plan |
| Filed where | With whoever asked for it | Federal Audit Clearinghouse, on a federal deadline (200.512) |
Source: 2 CFR 200.514 · 2 CFR 200.515 · 2 CFR 200.512 · Last verified: 2026-09-20
One contains the other
A single audit is the financial statement audit plus compliance work.
Compliance opinion
An opinion on compliance for each major federal program (2 CFR 200.514).
Which one you need
Federal awards expended decides the single audit; the agreement decides the rest.
Is a single audit in addition to a regular audit?
No — and paying for two separate engagements is a common and expensive mistake. The single audit includes the financial statement audit. One firm, one fieldwork period, one reporting package, several opinions inside it. What increases is the work: compliance testing, internal control over compliance, and the extra schedules management has to prepare.
Source: 2 CFR 200.514 · 2 CFR 200.515 · Last verified: 2026-09-20
What is a single audit or an independent financial audit, in plain terms?
An independent financial audit answers a question for your board, your lender and your state: do these statements show the organization's finances fairly? A single audit answers an additional question for the federal government: did you follow the rules that came with the federal money you spent? The second question is why the engagement grows when you cross the threshold, and why the report names specific programs.
Source: 2 CFR 200.501 · 2 CFR 200.514 · Last verified: 2026-09-20
Which report do funders and states want?
- A state charity registry usually wants the audited financial statements, not the compliance reports — see requirements by state.
- A federal awarding agency or pass-through entity wants the reporting package as submitted to the Federal Audit Clearinghouse (2 CFR 200.512).
- A lender usually wants the statements plus the management letter, which you must provide to a federal agency or pass-through entity on request (200.512(d)).
Source: 2 CFR 200.512 · Last verified: 2026-09-20
Questions and answers
How is a single audit different from a regular audit?
A single audit includes the financial statement audit and adds an opinion on compliance for each major federal program plus a report on internal control over compliance, filed in a federal reporting package.
Is a single audit in addition to regular audit work?
It is one engagement, not two. The financial statement audit sits inside the single audit, which is why you engage one firm and receive one reporting package.
Not sure which one you need?
Check the thresholdThis is public-record information, not accounting or legal advice.
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