COVID-19 changes the landscape for single-audit compliance

Description

Abstract: COVID-19 and its economic impact have left the nonprofit niche financially vulnerable, with corporate and individual donations dropping precipitously for many organizations. Relief funding under the CARES Act has helped some nonprofits remain reasonably stable. But funding also will likely impose new single-audit requirements on recipients already struggling to keep their heads above water. This article explains what nonprofits need to know about the requirements.