Single audits are required when state and local governments, not-for-profits, and in some cases, for-profits, have $750K or more in federal funding.
Historic amounts of federal funding subject to single audit have been provided in response to the pandemic. This means many more first-time recipients than usual and more single audits will need to be completed.
This comes with some increased risk for auditors and auditees, make sure you are up to date on the requirements for single audits by attending a CPE session or looking at the resources below.
AICPA's Governmental Audit Quality Center
Single Audit Fundamentals Series (archived webcasts)