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GAO-08-318R 1 (2007-12-07)

handle is hein.gao/gaocrptavtc0001 and id is 1 raw text is: SGAO Accountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 December 7, 2007 The Honorable Tom Carper Chairman Subcommittee on Federal Financial Management, Government Information, Federal Services, and International Security Committee on Homeland Security and Governmental Affairs United States Senate Subject: Responses to Posthearing Questions Related to Improving Single Audit Quality Dear Mr. Chairman: On October 25, 2007, GAO testified' before your subcommittee at a hearing entitled, Single Audits: Are They Helping to Safeguard Federal Funds? At the hearing, we provided (1) GAO's perspective on the history and importance of the Single Audit Act, as amended (Single Audit Act), and the principles behind the act, (2) our preliminary analysis of the recommendations made by the President's Council on Integrity and Efficiency (PCIE) for improving audit quality, and (3) additional factors to consider for improving the quality of single audits. This letter responds to your November 5, 2007, request for responses to follow-up questions for the record related to our October 25, 2007, testimony. Your questions, along with our responses, follow. Question 1. Ms. Franzel mentioned in her statement that a separate effort considering the overall framework for single audits is warranted, including analyzing whether the current federal oversight structure for single audits is adequate. Please elaborate on the type of analysis suggested to be done. Given the increase in federal grant awards in recent years and the many different federal entities involved in overseeing the single audit process, two aspects of the single audit framework warrant further analysis to determine whether changes are needed to improve single audit quality and overall accountability for the use of federal grant funds: (1) the roles and responsibilities of the various parties in the federal oversight structure for single audits, and (2) the current risk-based approach to conducting single audits. 'GAO, Single Audit Quality: Actions Needed to Address Persistent Audit Quality Problems, GAO-08- 213T (October 25, 2007). GAO-08-318R Single Audit Quality Posthearing Questions

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