Your Audit Firm Has Been Asked to Perform a Single

question 52

Essay

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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Definitions:

Target's Perception

How an individual or entity perceives or interprets actions, intentions, or attitudes directed towards them.

Strategic Contingencies

Situations or events that significantly impact an organization's ability to achieve its objectives, requiring strategic planning and responses.

Subunit Power

The influence and control that a specific department, division, or group within an organization has over decisions and resources.

Workflow Centrality

The importance or criticality of a particular process or task within the overall set of organizational activities, often determining its impact on productivity and efficiency.