With respect to the Single Audit Act of 1984 and amendment of 1996 relating to state and

Question:

With respect to the Single Audit Act of 1984 and amendment of 1996 relating to state and local governments and not-for-profit organizations:
a. Distinguish between major and non-major programs.
b. List the criteria used to determine whether an entity is subject to the Single
Audit Act.
c. List the audit reports that should be included in a single audit report.
d. List some of the sources of information that an auditor would need to conduct an audit of a government subject to the Single Audit Act. List both and audit sources.

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...