One of the primary purposes of the Single Audit Act of 1984 (amended in 1996) is to:
A) Detect fraud, waste and abuse in government entities.
B) Promote the efficient and effective use of audit resources.
C) Make audit activity legal at the federal level.
D) Allow federal auditors greater access to government entities receiving federal funds.

Question

Quizplus · Accepted Answer

The primary purpose of the Single Audit Act of 1984 (amended in 1996) is to promote the efficient and effective use of audit resources, specifically by requiring a single audit to cover both financial and compliance issues related to federal grants received by state and local governments or non-profit organizations. While fraud detection and prevention are important aspects of the Act, they are not the primary purpose. The Act also does not specifically make audit activity legal, as auditors were already conducting audits prior to its passage. The Act does facilitate greater access for federal auditors to entities receiving federal funds.

One of the Primary Purposes of the Single Audit Act