NOT2310. The SEFA - How to Get it Right

Ensuring that the SEFA is correct is a crucial part of complying with the Uniform Guidance audit requirements, including determining whether a single audit is required or not and determining which programs need to be audited. Changes to existing federal program funding and new funding opportunities that emerged as a result of COVID-19 introduced challenges to getting this right that still exist. This session will cover a short refresher on the basics, as well as additional necessary considerations resulting from expanded federal funding, that organizations receiving federal funding and auditors should be aware of related to SEFA reporting.

Learning Objectives:

• Determine the requirements of SEFA reporting, including recognizing those stemming from expanded federal funding
• Apply knowledge gained to auditing the SEFA
• Distinguish common SEFA issues identified during Uniform Guidance audits
• Identify tools and resources available to assist in confirming that the SEFA is right