An auditor of any governmental or not-for-profit that receives federal monies must include a report on the entity's internal control structure within their audit report or provide a cross-reference to that report.

Question

Quizplus · Accepted Answer

This is required under the Single Audit Act, which applies to entities that expend $750,000 or more in federal funds in a fiscal year.

An Auditor of Any Governmental or Not-For-Profit That Receives Federal