Your audit firm has been asked to perform a Single Audit of the Carrington Public Transportation Authority. The authority receives well over half of its $25 million in revenues from federal transportation grants and other federal programs. The authority has a new controller, whose last position was in private industry. You have been asked to brief the new controller on the criteria for determining major programs for purposes of your audit.
REQUIRED:
Include in your response an explanation of what is meant by "major programs" and the criteria that should be used in selecting them for audit.

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The Answer of Your audit firm has been asked to perform a Single Audit of the Carrington Public Transportation Authority. The authority receives well over half of its $25 million in revenues from federal transportation grants and other federal programs. The authority has a new controller, whose last position was in private industry. You have been asked to brief the new controller on the criteria for determining major programs for purposes of your audit.
REQUIRED:
Include in your response an explanation of what is meant by "major programs" and the criteria that should be used in selecting them for audit.

Your Audit Firm Has Been Asked to Perform a Single