This month's issue continues to look at the A-133 (Single Audit Act) audit and the role it plays in the business for recipients with this requirement included in their agreements.  This month the topics are audit readiness and the recent results of the governments review of actual audits.

Audit readiness is critical for all parties to the audit – government, funds recipients, and independent auditors; for management, investors, and employees.  From the first dollar of funds received, audit readiness is part of the equation and the expectations.  Understanding the process is the first step in meeting this critical requirement.

Once you understand what it means to be "audit ready", then the organization must have an audit program and a qualified auditor.  Easier said than done apparently in light of the government's just released findings on audits conducted (see article The National Single Audit Sample Results).