About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

AFMD-84-21 1 (1984-03-14)

handle is hein.gao/gaobabekw0001 and id is 1 raw text is: 

        RESTRICTED _Not to be rel-easod outside the fleltmO
        Aceounting Office xet on the basis 01 spoltic aPP..Ova
        by te Office of Comgresi~onal Relations.  R4                     S

BY THE COMPTROLLER GENERAL

Report To The Chairman,

Committee On Government Operations,

House Of Representatives

OF THE UNITED STATES


Study Of Progress Made In Implementing

The Single Audit Concept

Achieving adequate audit coverage through detailed
grant-by-grant audits is costly and very difficult.
The single audit concept emphasizes an entity-
wide audit utilizing reviews of internal controls
rather than relying solelyon detailed audits of eac-
grant. However, this concept has not been success-
fully implemented through OMB's Circular A-102,
Attachment P. Implementation of the concept would
be enhanced by

   --a clear definition of and agreement on the
   purpose and scope of the audit,

   --exempting those governments receiving small
   amounts of federal assistance, and

   --consolidation of existing multiple federal finan-
   cial audit requirements which conflict with the
   single audit concept.

GAO believes that legislation is needed to correct
these problems and provide the permanency needed
for successful implementation of this important
reform. GAO further believes that legislation is
needed to better define the management role of
cognizant agencies that oversee implementation of
the single audit. Legislation addressing these issues
is pending in the Senate and the House of Repre-
se ntatives.




o                                                            123655



                              ,  ..GAO/AFMD-84-21
   OCOU,                    ..,        ,.MARCH 14, 1984
         , :l eI,',             ,: ,y, ,, , o, , , '

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Already a HeinOnline Subscriber?

profiles profiles most