Under the Single Audit Act of 1984, an audit that is specifically designed to meet the needs of all federal grantor agencies. Single audits must be performed in accordance with generally accepted auditing standards and the provisions of the Office of Management and Budget's Circular A-133, Audits of States, Local Governments, and non-profit organizations.
A comprehensive financial and compliance audit pursuant to OMB Circular A-128 of a county receiving federal funds through the Department; reviewed by Department audit staff.
A financial, internal control, and compliance audit of a nonfederal entity administering federal assistance awards including the financial statements of the entity.
an audit of the whole organization and all state and/or federal programs
a rigorous, organization-wide review that includes both financial and compliance components
An audit performed in accordance with the Single Audit Act of 1997 and Office of Management and Budget's (OMB) Circular A-133, Audits of State and Local Governments and Non-Profit Organizations. The Single Audit Act allows or requires governments (depending on the amount of federal assistance received) to have one audit performed to meet the needs of all federal agencies.
The Single Audit, also known as the OMB A-133 audit, is a rigorous, organization-wide audit or examination of an entity who expends $500,000 or moreUnited States Office of Management and Budget; Office of Federal Financial Management, http://www.whitehouse.gov/omb/financial/fin_single_audit.html The Single Audit of United States Federal assistance (commonly known as Federal funds, Federal grants, or Federal awards) received for its operations.http://www.whitehouse.gov/omb/circulars/a133/a133.html OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations; Subpart B - Audits; Â§___.200 - Audit requirementshttp://www.tgci.com/magazine/02fall/audit1.asp Understanding Single Audits by Henry Flood, Grantsmanship Center Magazine, Fall 2002, retrieved on June 30, 2006 Usually performed annually,http://www.whitehouse.gov/omb/circulars/a133/a133.html OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations; Subpart B - Audits; Â§___.220 - Frequency of audits the Single Auditâ€™s objective is to provide assurance to the US federal government as to the management and use of such funds by different recipients, such as States, cities, universities, and non-profit organizations, among others. It is typically performed by an independent certified public accountant (CPA) and encompasses both financial and compliance components.