What is the Single Audit Act? How has this act influenced auditing of governmental agencies? What types of reports and opinions do the auditors provide?
The Single Audit Act is a combination of several audits into one audit. The government that spends more than $500,000 on more than one program now is audit as one program. The auditor’s distinguishes between major and nonmajor programs.
The act has changed the submitting of several reports from different agencies into just a single agency. The single agency now reviews the reports to determine that all standards are met...
What is the Single Audit Act? How has this ac