Entities participating in federal programs must understand significant changes in the 2024 Single Audit Compliance Supplement to ensure compliance, optimize funding utilization, and maintain eligibility for future awards. Phil Marciano, Partner at Citrin Cooperman, explains key strategies for adapting to these updates, focusing on increased thresholds for audits, enhancements to internal controls—including cybersecurity measures—and adjustments to program income usage. He also addresses the adjusted de minimis indirect cost rate and the importance of timely audit submissions to maintain low-risk auditee status.