On March 19, 2021 the Office of Management and Budget (OMB)
issued Memorandum M-21-20 that includes a
six-month extension (beyond the normal due date) for single audit
submissions of organizations with fiscal year-ends through June 30,
2021. The extension applies to organizations that have not yet
submitted their single audit submission to the Federal Audit
Clearinghouse as of March 19, 2021.
As an example, a December 31, 2020 year-end single audit would
normally be due September 30, 2021, but under the current
extension, it is now due March 31, 2022.
A few items to keep in mind:
- Organizations should maintain documentation of the reason for
the delayed filing.
- Organizations taking advantage of this extension may still
qualify as a “low-risk auditee” and this extension is
not linked to the receipt of COVID-19 funding.
