Accession Number:

AD1167702

Title:

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

Descriptive Note:

[Technical Report, Congressional Report]

Corporate Author:

United States Government Accountability Office

Personal Author(s):

Report Date:

2017-02-01

Pagination or Media Count:

75

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.

Subject Categories:

  • Administration and Management
  • Economics and Cost Analysis

Distribution Statement:

[A, Approved For Public Release]