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Planning an audit in SMART Single Audit
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This article applies to:

  • Product: SMART Single Audit

Add federal awards to an engagement

You can enter Federal Award information at either the Program level or the Individual Grant level. Awards you add will automatically be in the Identify Major Programs section. To view Federal Awards you've added go to View, then Federal Awards Summary.
To add an award:
  1. From the
    Insert
    menu, select
    Add Federal Award
    .
  2. Select a government program from the drop-down list in the Program Details section of the Add or Modify Federal Award window. Based on your selection, some fields will populate automatically.
    • Select
      Create New
       from the drop-down list to add an entry to this listing.
    • Select
      Update CFDA List
       to check for Updated CFDA list to include new programs added to the CFDA website.
    note
    The drop-down list contains more than 2,000 U.S. Government programs that are available on the Internet and are updated periodically. Only about 250 of these programs are specifically addressed in the OMB Compliance Supplement. The rest use a generic program from the Compliance Supplement for government programs that are not specifically addressed in the Compliance Supplement, with instructions on how you should tailor them.
  3. Select a date for the last year this program was audited as a Major Program. Leave blank if never or unknown.
  4. Mark the checkboxes corresponding to the applicable
    Administrative Requirements and Cost Principles
    .
  5. Mark the
    Loan or Loan Guarantee Program
     checkbox, if applicable.
  6. Mark the
    Research and Development Award
     checkbox, if applicable.
  7. Mark the
    The entity is a pass-through entity for this program
    checkbox, if applicable.
    1. Once you make this selection, you can also add the
      Amount passed-through to Subrecipients
      .
  8. Enter the
    Percentage used to calculate Program Materiality
    . The default value is set to five percent; if required you can change and enter the applicable value.
  9. Select
    Next
    .
  10. In the Award Information section, select one of the following:
    • Program
    • Individual grants within this program
  11. Select either
    Direct
     or
    Indirect
     from the drop down menu and complete the monetary fields, including
    Award Amount
    . Select
    Add Row
     to enter awards from multiple pass-through entities.
  12. Select
    Finish
    .
The criteria for mandating a single audit are total awards expended equaling or exceeding $750,000.