The Single Audit Act evolved because: a. The GAO was overburdened with grant audits. b. Congress preferred

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The Single Audit Act evolved because:

a. The GAO was overburdened with grant audits.

b. Congress preferred that governmental auditors emphasize grant contracts rather than financial statements.

c. There was a need for audits that de-emphasized grants that were immaterial to the financial statements.

d. Grant-by-grant audits were not cost-effective.

Choose the correct answer.

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Auditing And Assurance Services

ISBN: 9780538869522

5th Edition

Authors: David Ricchiute

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Question Posted: May 04, 2024 02:01 AM

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The Single Audit Act evolved because: a. The GAO was overburdened with grant audits. b. Congress preferred

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Auditing And Assurance Services

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