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Financial Management: H.R. 4821, the Single Audit Act of 1984

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Report Type Reports and Testimonies
Report Date March 20, 1984
Report No. 123681
Subject
Summary:

Testimony was presented on H.R. 4821, the Single Audit Act of 1984. GAO views the establishment of uniform audit requirements for state and local governments receiving federal financial assistance to be most important. A recent GAO study of the implementation of the single audit concept showed that major problems still impede the process. GAO believes that there is a need for: (1) a clear definition of what is to be achieved by the single audit; (2) reduction of the burden on local governments by exempting from single audit requirements those receiving relatively small amounts of federal assistance; (3) consolidation of multiple federal audit requirements for state and local governments though legislatively mandated, uniform requirements applicable to all federal financial assistance programs; and (4) implementation of the cognizant agency system to minimize the diffusion of audit responsibility. GAO believes that H.R. 4821 is a sound bill which addresses the major concerns and problems involved in the audit of state and local governments receiving federal financial assistance.

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