Audit Requirement Checker

    Answer a few questions to find out whether your organization is required to have an audit, review, or neither — based on entity type, revenue, and federal funding.

    Does my organization need an audit?

    Whether your organization needs an audit depends on your entity type, annual revenue or budget, amount of federal funding, and state charitable registration requirements. Nonprofits with $1,000,000+ in federal grants need a Single Audit. Many states require audited financials for nonprofits above certain revenue thresholds. Businesses generally need audits for bank loans, investor requirements, or regulatory mandates.

    Check Your Audit Requirements

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    When Is an Audit Required?

    When Is an Audit Required?

    FeatureOrganization TypeTriggerAudit Level
    Nonprofit (federal funds)$1M+ in federal awardsSingle Audit (2 CFR 200)
    Nonprofit DC$500K+ gross contributionsFinancial statement audit
    Nonprofit Maryland$300K+ gross contributionsFinancial statement audit
    Nonprofit Virginia$1M+ gross contributionsFinancial statement audit
    HOA/CondoPer bylaws or $150K+ budgetAudit or review
    Small Business (SBA loan)Loans over $2MAudited financials required
    Government ContractorCost-type federal contractsDCAA accounting system audit
    Employee Benefit Plan100+ eligible participantsAnnual EBP audit (ERISA)

    Frequently Asked Questions

    Not sure which level of assurance you need?

    We assess your requirements and find the most cost-effective approach.