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A-133 Audits

grants

Are you subject to an A-133 Audit?

An A-133 audit is required in any year that your organization spends in excess of $500K of grant money that has originated from federal funding sources. The audit is typically conducted by an independent CPA firm, and tends to be more extensive and scrutinizing than a traditional audit of your financial statements.

In addition to examining your financial statements and controls for evidence of general GAAP compliance, an A-133 audit delves into specific issues related to the control of funds provided by the federal government. These issues include:

  • Proper classification and documentation of allowable and unallowable costs
  • Program effectiveness
  • Client eligibility for the funding
  • Adequacy of internal controls
  • Proper calculation of indirect cost rates (Fringe / Overhead / G&A)

SYMPAQ SQL provides your non-profit organization with a solid foundation for the proper management of costs associated with fulfilling federal grants and contracts. Join the legions of government contractors and not-for-profit entities that quickly and efficiently pass their government audits (e.g., DCAA, NIH or A-133) with SYMPAQ SQL as their financial management system. Some key features that support federally funded not-for--profits include:

  • Negotiated Indirect Cost Rate Agreement (NICRA) allocations to grants and contracts
  • Calculation of actual indirect cost rates on a per period basis
  • Job costing to properly track costs associated with individual grants and contracts
  • Segregation of unallowable costs and exclusion of same from your NICRA calculations

For more information:

OMB Circular A-133 Compliance