SINGLE AUDITS: Improvements Needed in Selected Agencies' Oversight of Federal Awards

Abstract

Federal agencies have oversight responsibilities for the funds that they award to nonfederal entities and can assign these responsibilities to their sub agencies (i.e., operating units or divisions). Nonfederal entities are required to undergo a single audit if their expenditures of federal awards in a fiscal year exceed a certain threshold. A single audit is an audit of the award recipients expenditure of federal awards and of its financial statements and can identify deficiencies in the award recipients compliance with the provisions of laws, regulations, contracts, or grant agreements and in its financial management and internal control systems. Correcting such deficiencies can help reasonably assure the effective use of federal funds and reduce federal improper payment.

Open PDF

Document Details

Document Type
Technical Report
Publication Date
Feb 01, 2017
Accession Number
AD1167702

Entities

People

  • Beryl H. Davis

Organizations

  • United States Government Accountability Office

Tags

Communities of Interest

  • Biomedical

DTIC Thesaurus Topics

  • Accountability
  • Business Administration
  • Congress
  • Contracts
  • Education
  • Electronic Mail
  • Financial Management
  • Governments
  • Health Care
  • Health Services
  • Law
  • Local Governments
  • National Governments
  • Organizational Structure
  • Payment
  • Procurement
  • Risk
  • Risk Analysis
  • Risk Management
  • Tool Kits
  • United States
  • United States Government

Fields of Study

  • Business

Readers

  • Facility/Structural Engineering.
  • Public Financial Management and Budgeting
  • Strategic Security Studies