Common use of Single Audit Requirement Clause in Contracts

Single Audit Requirement. The Grantee shall have a certified annual audit performed utilizing Generally Accepted Accounting Principles and Generally Accepted Auditing Standards. Governmental and Non-profit Grantees, or their assignees, which received state funds during their fiscal year, shall comply with the requirements set forth in the State Single Audit Guidelines issued by the Department of Administration. Audit reports are due to the Department within the earlier of 30 calendar days after receipt of the auditor’s report(s), or nine months after the end of the audit period. Please review the Department of Administration’s Single Audit Compliance Supplement for details on submission of the reporting package.