In accordance with the Single Audit Act of 1984,external auditors issue the standard audit report on the governmental unit's financial statements and must also issue:
I.a special report on the effectiveness with which the governmental unit is achieving its social objectives.
II.a special report on the governmental unit's internal control system.
III.a special report on the governmental unit's compliance with laws and regulations.

Question

Quizplus · Accepted Answer

Under the Single Audit Act of 1984, external auditors are required to issue a standard audit report on the governmental unit's financial statements, but they must also issue a special report on the governmental unit's internal control system and compliance with laws and regulations. While achieving social objectives is an important consideration for governmental units, it is not a specific requirement for external auditors under this act. Therefore, the answer is choice C, which includes the two special reports that auditors are required to issue.

In Accordance with the Single Audit Act of 1984,external Auditors