Single Audit Preparation Checklist (2 CFR 200 Subpart F)
Single Audit Preparation Checklist (2 CFR 200 Subpart F) helps you verify SEFA, reporting package, prior findings, and support files before the auditor arrives. Use it to catch missing documentation and unresolved deficiencies early.
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Overview
This template is a pre-audit readiness checklist for organizations subject to the Single Audit requirements in 2 CFR 200 Subpart F. It walks through the core items an auditor will expect to see: whether the federal awards expended total triggers the audit, whether the SEFA is complete and reconciles to the general ledger, whether the reporting package is assembled, and whether prior findings and corrective actions are documented.
Use it during year-end close, before fieldwork, or whenever grant activity changes materially and you want to confirm the audit file is complete. It is especially helpful for entities with multiple federal programs, subrecipient activity, or repeat findings that need management response and remediation tracking. The checklist also gives you a place to assign an audit liaison, track open items, and confirm final sign-off before submission.
Do not use this as a substitute for the actual audit or as a generic financial close checklist. It is not meant for non-federal compliance reviews, and it will not replace the auditor’s procedures or your organization’s policies. If your entity has no federal awards, or if the audit threshold clearly does not apply, you may only need the scope verification portion. If you have complex pass-through awards, subrecipient monitoring, or unresolved deficiencies, the template should be customized to capture those details explicitly.
Standards & compliance context
- This template supports readiness for Single Audit work under 2 CFR 200 Subpart F and the Uniform Guidance framework for federal awards.
- The SEFA and reporting package sections align with the documentation and presentation expectations auditors use when testing federal grant compliance.
- Prior findings and corrective action fields help demonstrate management response and follow-up consistent with federal audit expectations and internal control practices.
- Organizations should adapt the checklist to their own grant terms, pass-through requirements, and any additional state or agency-specific reporting rules.
General regulatory context for orientation only — verify current requirements with counsel or the relevant agency before relying on this template for compliance.
What's inside this template
Audit Scope and Threshold Verification
This section confirms whether the Single Audit applies and whether the federal award population is tied to the correct fiscal year and ledger records.
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Federal awards expended total calculated for the audit year
Enter total federal awards expended for the fiscal year being audited.
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Single Audit threshold applicability confirmed
Confirm whether the organization meets the Single Audit threshold under 2 CFR Part 200 Subpart F.
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Audit period and fiscal year-end documented
Record the fiscal year covered by the audit and the entity’s year-end date.
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Federal award population reconciled to general ledger
Confirm that all federal award activity is reconciled to the general ledger and supporting schedules.
SEFA Preparation and Reconciliation
This section matters because the SEFA is the core schedule auditors use to test federal award completeness, classification, and support.
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SEFA prepared for all federal programs
Confirm the SEFA includes all federal programs and award activity for the fiscal year.
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SEFA reconciles to the general ledger
Confirm the SEFA ties to the general ledger and supporting grant schedules.
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Federal program names, CFDA/Assistance Listing numbers, and pass-through identifiers included
Verify required program identifiers are included on the SEFA.
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SEFA footnotes and significant accounting policies included
Confirm SEFA footnotes describe accounting policies, basis of presentation, and other required disclosures.
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Subrecipient expenditures separately identified
Confirm subrecipient expenditures are separately tracked and disclosed where required.
Financial Statements and Reporting Package
This section ensures the final audit deliverables are complete, approved, and stored in a place the team can actually submit from.
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Audited financial statements finalized
Confirm the financial statements are complete and ready for audit submission.
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Reporting package includes required components
Select all reporting package components that are complete and available.
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Management review and approval completed
Confirm management has reviewed and approved the final reporting package.
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Submission deadline tracked
Record the planned submission date for the reporting package.
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Repository for final audit package established
Confirm a secure location exists for final audit workpapers and submitted files.
Prior Findings and Corrective Action
This section tracks repeat issues and management responses so unresolved deficiencies do not carry forward unnoticed.
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Prior audit findings summarized
Confirm all prior audit findings are summarized for the current reporting package.
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Corrective action plan prepared for unresolved findings
Confirm a corrective action plan exists for any unresolved prior findings or current deficiencies.
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Root cause analysis documented for repeat findings
Confirm repeat findings have documented root cause analysis and remediation.
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Management response drafted for known deficiencies
Confirm management responses are drafted for known deficiencies or anticipated findings.
Internal Controls, Compliance, and Documentation
This section captures the policies, controls, and retained evidence that support the organization’s federal compliance posture.
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Written policies and procedures available for federal grant compliance
Confirm current policies and procedures are available for grant administration and compliance.
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Internal control documentation available for key processes
Confirm process narratives, control matrices, or flowcharts exist for key compliance processes.
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Supporting documentation retained and organized
Confirm source documents are complete, legible, and organized for auditor sampling.
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Known deficiencies tracked in a remediation log
Confirm deficiencies and action items are tracked in a remediation log.
Final Readiness and Sign-Off
This section creates a clear owner, open-item review, and formal approval point before the audit package is released.
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Audit liaison assigned
Enter the primary contact responsible for coordinating the Single Audit.
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Open items list reviewed with owners
Confirm all open items have been reviewed with responsible owners.
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Final readiness sign-off completed
Inspector or management sign-off confirming the organization is ready for the Single Audit.
How to use this template
- 1. Enter the fiscal year-end, federal awards expended total, and threshold decision so the checklist reflects the audit year and applicability status.
- 2. Reconcile the SEFA to the general ledger, add program names, Assistance Listing numbers, pass-through identifiers, and footnotes, then attach the supporting schedules.
- 3. Confirm the audited financial statements and reporting package components are complete, reviewed, approved, and stored in the designated repository.
- 4. Summarize prior findings, document root cause and corrective action for unresolved items, and assign owners for each open deficiency or remediation task.
- 5. Review internal control documentation, supporting evidence, and the open items list with the audit liaison, then record final readiness sign-off.
Best practices
- Tie the SEFA to the general ledger at the program level, not just at the total federal awards amount.
- Flag subrecipient expenditures separately so the auditor can trace pass-through activity without rebuilding the schedule.
- Document the threshold applicability decision with the underlying calculation and fiscal year dates, even when the organization believes an audit is not required.
- Keep a live remediation log for deficiencies, repeat findings, and open support requests so nothing is lost in email.
- Store the final reporting package in one controlled repository with version history and clear naming conventions.
- Assign one audit liaison to coordinate requests, deadlines, and approvals across finance, grants, and program teams.
- Write corrective actions to the actual root cause, not just the symptom, so repeat findings do not recur next year.
What this template typically catches
Issues teams running this template most often surface in practice:
Common use cases
Frequently asked questions
Who should use a Single Audit Preparation Checklist?
This checklist is for finance teams, grant managers, controllers, and audit liaisons who prepare for a Single Audit under 2 CFR 200 Subpart F. It is especially useful for organizations that expend federal awards and need to confirm readiness before fieldwork or submission. If your entity is close to the threshold, it also helps document the applicability decision.
What does this template cover that a general audit checklist does not?
This template is focused on Single Audit readiness, not general financial statement audit prep. It centers on federal awards expended, SEFA preparation and reconciliation, reporting package completeness, prior findings, corrective actions, and documentation retention. That makes it more useful for grant-heavy organizations than a generic close checklist.
How often should this checklist be used?
Most organizations use it once per fiscal year during audit preparation, then update it as close items are resolved. If you have multiple federal programs or a long close cycle, it can also be used in quarterly or month-end grant review meetings. The key is to keep it current enough that the final audit package is not assembled from scratch.
Does this checklist help determine whether a Single Audit is required?
Yes. The audit scope section includes federal awards expended total, threshold applicability, fiscal year-end, and population reconciliation to the general ledger. That supports the decision process, but the final applicability determination should still be reviewed by the organization’s finance leadership and auditor using the current federal threshold rules.
What are the most common mistakes this checklist helps prevent?
Common misses include an SEFA that does not tie to the general ledger, missing pass-through identifiers, incomplete footnotes, and unresolved prior findings with no clear corrective action. Teams also overlook subrecipient expenditures, late reporting package assembly, and weak documentation for key compliance processes. This checklist makes those gaps visible before the audit starts.
Can this template be customized for different grant structures?
Yes. You can add program-specific lines for reimbursement grants, cost-reimbursement awards, subrecipient monitoring, or pass-through entity reporting. Many teams also add internal approval fields, document links, and owner columns so the checklist matches their grant management workflow.
How does this relate to federal compliance requirements?
The checklist is aligned to Single Audit expectations under 2 CFR 200 Subpart F and the broader Uniform Guidance framework. It also supports the documentation and internal control practices auditors expect when reviewing federal awards, SEFA support, and corrective action follow-up. It is not a substitute for legal advice, but it helps organize the evidence auditors typically request.
What should be included in the final audit package repository?
The repository should hold the finalized financial statements, SEFA, reporting package components, support schedules, prior finding responses, and any final sign-off documents. It should be easy to navigate and locked down so the team can control versioning. A clear repository reduces last-minute scrambling and helps ensure the submitted package matches the reviewed version.
How is this better than tracking readiness in email or spreadsheets alone?
Email threads and loose spreadsheets make it hard to prove what was reviewed, who owns each open item, and whether the final package is complete. This checklist creates a single readiness record with scope, reconciliation, corrective actions, and sign-off in one place. That makes handoffs cleaner and reduces the chance of missing a required component.
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