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RHR Smith & Company August Newsletter

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August 2026 Newsletter

As summer begins to wind down, we have been hard at work behind the scenes strengthening our internal systems and processes to better support our clients. These ongoing improvements help us work more efficiently, enhance communication, and ensure we're prepared for another successful audit season. We appreciate your continued partnership and look forward to working with you in the months ahead.

Single Audit Update: Compliance Supplement Still Pending

The 2026 Compliance Supplement has not yet been released. Until the final version is issued, we are unable to finalize financial statements that require a Single Audit. Our team is closely monitoring its release and will continue moving engagements forward as much as possible in the meantime. Once the Compliance Supplement becomes available, we will complete the remaining Single Audit procedures and finalize affected financial statements as quickly as possible. We appreciate your patience and understanding.

Preparing for a Single Audit: What Every Auditee Needs to Know

Whether you're new to Single Audits or looking to strengthen your current processes, this short video [ https://app.lumiqlearn.com/episodes/WAbdgLW7HisI9GY2N0Fx ] provides a helpful overview of the audit requirements and practical tips for staying prepared. It covers who needs a Single Audit, best practices for preparing your Schedule of Expenditures of Federal Awards (SEFA), common audit findings, and steps you can take to avoid them. We encourage anyone involved in federal grant administration or financial reporting to take a few minutes to watch and gain valuable insights that can help make your next audit run more smoothly.

LINK TO VIDEO [ https://app.lumiqlearn.com/episodes/WAbdgLW7HisI9GY2N0Fx ]

Client Feedback & Newsletter Suggestions

We always welcome your feedback. If there are topics you'd like us to cover in a future newsletter, questions you'd like us to address, or comments you'd like to share about your experience with RHR Smith & Company, we'd love to hear from you. Thank you for taking a few moments to complete our brief survey.

LINK TO SURVEY [ https://forms.cloud.microsoft/r/4maVKzB33S ]

New Faces at RHR!

Since our last employee update in July, we've welcomed talented professionals to the team. Here's a quick introduction:

Kimberly Denbow - Staff Auditor Vivian Drolet - Staff Auditor McKenna Verge - Staff Auditor Thank you to our summer interns Yevette Petrella, Domenic Concessi, and Emily Garneau for all of your hard work and dedication this summer. We appreciate your contributions and hope to see you again!

Click here to meet the full team with bios [ https://www.rhrsmith.com/ourteam ]

Disclaimer: The information contained within this newsletter is provided for informational purposes only. All legal requirements and compliance matters should be reviewed with your legal counsel. RHR Smith & Company does not provide legal advice to clients.

Please know that we are always available to help and want to hear from you! What do you need from us?

For scheduling and engagement questions: Heather Hunter [ mailto:[email protected]?subject= ] For help with contracted accounting services (bank reconciliations, etc.): Karen Olivieri [ mailto:[email protected]?subject= ] For help with consulting services: Danielle O'Neill [ mailto:[email protected]?subject= ] For help with payroll services: Danielle O'Neill [ mailto:[email protected]?subject= ] For questions about your financial statements: Jess Gardner [ mailto:[email protected]?subject= ] For que stions about fixed assets: Amy Hadlock [ mailto:[email protected]?subject= ] For questions about billing: Amadee Denton [ mailto:[email protected]?subject= ] For questions specific to your audit: Your Audit Manager For complaints, feedback, suggestions, etc.: Danielle O’Neill [ mailto:[email protected]?subject= ] or Heather Hunter [ mailto:[email protected]?subject= ]

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