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The Single Audit incorporates the auditing of the use and management of the federal funds to verify if it complied with the laws and regulations applicable to that specific assistance. When the Single Audit is complete, the recipient must send the auditor's reports and other required documentation to the Federal Audit Clearinghouse (FAC). The ...
In the United States, the Single Audit, Subpart F of the OMB Uniform Guidance, is a rigorous, organization-wide audit or examination of an entity that expends $750,000 or more of federal assistance (commonly known as federal funds, federal grants, or federal awards) received for its operations.
Without it, auditors would need to research many laws and regulations for each single program of a recipient to determine which compliance requirements are important to the Federal Government. For Single Audits, the Supplement replaces any agency audit guides and other audit requirement documents for individual Federal programs. [1]
In addition, CPA firms that perform local government financial audits that include an A-133 "single audit" must follow yellow book standards. In addition to financial audits, the Yellow Book standards cover Performance Audits, which evaluate the performance of a program or project against defined objectives, such as objectives for efficiency ...
Pages in category "Single Audit" The following 7 pages are in this category, out of 7 total. ... Federal Audit Clearinghouse; O. OMB A-133 Compliance Supplement; P.
Performing Audit Procedures in Response to Assessed Risks and Evaluating the Audit Evidence Obtained full-text: February 2006 111: Amendment to Statement on Auditing Standards No. 39: Audit Sampling full-text: February 2006 112: Communicating Internal Control Related Matters Identified in an Audit full-text: May 2006 113: Omnibus 2006 full-text ...
Transactional Records Access Clearinghouse (TRAC) is a nonprofit and nonpartisan data gathering, data research, and data distribution organization in the S. I. Newhouse School of Public Communications at Syracuse University.
The United States Government Accountability Office (GAO) is an independent, nonpartisan government agency within the legislative branch that provides auditing, evaluative, and investigative services for the United States Congress. [2]