To better understand trends in federal award compliance and enhance awareness around common audit pitfalls, we conducted an in-depth analysis of Uniform Guidance (UG) audit data obtained from the Federal Audit Clearinghouse. The primary focus of our analysis was to examine the nature and frequency of findings reported in UG audits. This article presents a synthesis of our findings, highlighting the most prevalent issues identified in UG audits. In addition, it offers practical guidance and best practices to help organizations strengthen their internal controls and avoid common audit findings, thereby improving overall compliance and risk posture. A Single Audit, governed by the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), is a rigorous, organization-wide audit or examination of an entity that expends $750,000 or more of federal funds in a fiscal year. This threshold increased to $1 million effective fiscal year starting October 1, 2024. Single Audits are intended to provide assurance to the federal government that recipients of federal funds are compliant with applicable regulations and are properly using federal dollars. The audit is conducted according to standards set by the Office of Management and Budget (OMB), specifically under Title 2 of the Code of Federal Regulations (CFR), Part 200. Auditors assess both financial statements and the organization’s compliance with federal awards. This includes evaluating internal controls and identifying any systemic weaknesses that could affect financial accuracy or program compliance.
