The Single Audit Act Distinguishes Between Major and Nonmajor Federal

question 9

Multiple Choice

The Single Audit Act distinguishes between major and nonmajor federal programs. One factor that distinguishes a major from a nonmajor program is inherent risk. Which of the following is NOT a characteristic of "inherent risk"?

• A) Significant prior audit findings.
• B) Significant violation of the terms of a specific grant due to a misunderstanding of the requirements.
• C) Weakness in the entity's internal controls.
• D) Lack of oversight by federal agencies.

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Definitions:

Interactive Approach

A method or practice that emphasizes two-way communication and active engagement between parties involved.

Communication Skills

The ability to convey or exchange information effectively through various means, including verbal, non-verbal, written, and visual.

Tonsillectomy

A surgical procedure to remove the tonsils, which are two lymphoid tissues located at the back of the throat, often performed to treat chronic tonsillitis or obstructive sleep apnea.

Animated Video

A digital or motion picture created using sequential drawings, models, or computer graphics to appear as moving images for various purposes.