Single audits involve three levels of requirements, generally accepted auditing standards (GAAS), Government Auditing Standards, and Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance).
Under Uniform Guidance (2 CFR Part 200, Subpart F), nonfederal entities that expend $1 million or more in federal awards during the entity’s fiscal year are required to have a single audit or program-specific audit in accordance with 2 CFR 200.501.