When conducting a single audit:
A) All federal grant programs must be audited.
B) All major programs must be audited.
C) At a minimum, all Type A major programs not identified as low-risk and certain high-risk Type B programs must be considered for audit.
D) All programs not identified as low-risk must be audited.

Question

Quizplus · Accepted Answer

According to the Single Audit Act, as amended in 1996, at a minimum, all Type A major programs not identified as low-risk and certain high-risk Type B programs must be considered for audit. This means that not all federal grant programs or all programs not identified as low-risk must be audited, but rather only those programs that meet the criteria outlined in the act. The determination of which programs are Type A or Type B and their risk status is based on specific criteria outlined in Circular A-133.

When Conducting a Single Audit