Preparing your SEFA

The SEFA (Schedule of Expenditures of Federal Awards) is a supplemental schedule to financial statements. Under the Uniform Guidance (2 CFR 200), a non-federal entity that expends $750,000 or more in federal awards during the entity’s year is required to have a Single Audit conducted. The SEFA is the primary basis auditors use to determine …

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Single Audit Reform

We’ve been waiting a while for this, as single audit reform has been an ongoing conversation for a few years. There will be a number of changes to single audit requirements as well as some changes to the single audit process. For now, since these changes won’t take effect until 2015 calendar year-end audits, the …

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