<Table> <Tr> <Td> </Td> <Td> This article needs to be updated . In particular: Uniform Guidance in 2 CFR 200 Subpart F has superseded OMB Circular A-133 . Please update this article to reflect recent events or newly available information . (February 2018) </Td> </Tr> </Table> <Tr> <Td> </Td> <Td> This article needs to be updated . In particular: Uniform Guidance in 2 CFR 200 Subpart F has superseded OMB Circular A-133 . Please update this article to reflect recent events or newly available information . (February 2018) </Td> </Tr> <P> In the United States, the Single Audit, also known as the OMB Uniform Guidance, is a rigorous, organization - wide audit or examination of an entity that expends $750,000 or more of Federal assistance (commonly known as Federal funds, Federal grants, or Federal awards) received for its operations . Usually performed annually, the Single Audit's objective is to provide assurance to the US federal government as to the management and use of such funds by recipients such as states, cities, universities, and non-profit organizations . The audit is typically performed by an independent certified public accountant (CPA) and encompasses both financial and compliance components . The Single Audits must be submitted to the Federal Audit Clearinghouse along with a data collection form, Form SF - SAC . </P> <P> Before implementing the Single Audit, the federal government relied on numerous audits carried out on individual federally funded programs to ensure these funds were spent properly . Because the government had numerous agencies awarding hundreds of different programs, the task of auditing all programs became increasingly difficult and time consuming . To improve this situation, the Single Audit Act of 1984 standardized audit requirements for States, local governments, and Indian tribal governments that receive and use federal financial assistance programs . </P>

What is the auditor s responsibility for the schedule of expenditures of federal awards