Which of the following statements concerning the identification of a Type A low-risk program is true?

Question

Quizplus · Accepted Answer

According to the Yellow Book, a Type A program can be considered low-risk if it has been audited as a major program in one of the last two years and the most recent audit had no internal control deficiencies or a modified opinion on the program. Option B is incorrect because there must be no internal control deficiencies or modified opinion on the program to be classified as low-risk, not just the absence of reportable findings. Option C is also incorrect because the absence of audit findings alone does not automatically qualify a program as low-risk. Option D is incorrect because Type A programs can be classified as low-risk under certain conditions.

Which of the Following Statements Concerning the Identification of a Type