Guidance 211 - NSAA, PCIE, GAO Studies

A 1993 NSAA survey of its members identified concerns about complex single audit reporting requirements, confusion over the contents of the schedule of federal financial assistance and the burden of reporting all instances of noncompliance. The state auditors suggested the use of a risk-based approach to determining which programs are tested for compliance (major programs), rather than relying solely on the amount of federal funds received under a particular program. The NSAA report noted that the same federal programs were being audited each year under the Single Audit Act’s definition of major programs. A risk-based approach would allow auditors to use their professional… Read More