Question: Robert Myers CPA has been engaged to audit the City

Robert Myers, CPA, has been engaged to audit the City of Mystic in accordance with the Single Audit Act. Robert is aware that the Single Audit Act requires additional tests of major federal financial assistance programs, and he is trying to identify those programs for this audit. The City of Mystic participates in four federal financial assistance programs with the following amounts of expenditures and assessed risk of material noncompliance.

a. Identify the major federal assistance programs.
b. Describe the compliance testing requirements for major federal financial assistance programs under the Single AuditAct.

Sale on SolutionInn
  • CreatedOctober 27, 2014
  • Files Included
Post your question