What is a Governmental Audit?  


    Each year, the government awards billions of dollars in grants, loans, loan guarantees, property, cooperative agreements, interest subsidies, insurance, food commodities, and direct appropriations and federal cost reimbursements which are subject to audit requirements. 

    Governmental audits include audits performed under the Single Audit Act Amendments of 1996 and OMB Circular A-133, Audits of States, Local Governments and Non-Profit Organizations (referred to as single audits), program specific audits as defined under OMB Circular A-133, and other compliance audits and attestation engagements performed as required by federal, state, or local laws and regulations.



    A A A


     
    Copyright © 2006-2014 American Institute of CPAs.