Which of the Following Is True Regarding the Single Audit

question 61

Multiple Choice

Which of the following is true regarding the Single Audit Act and its amendments?

• A) Governments and not-for-profit organizations that exceed $50 million in federal awards are normally assigned a cognizant agency to provide guidance; smaller governments are expected to use oversight agencies, the agencies providing more funding than any other agency.
• B) A risk-based approach (risk to the auditor) is used to determine which programs are selected by the auditor to audit.
• C) Both of the above.
• D) Neither of the above.

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Definitions:

Validation Rule

Criteria or constraints set within database fields or software inputs to ensure data integrity and adherence to specified formats or values.

Validation Text

An explanatory message that appears when data entered into a field does not comply with validation rules.

Validation Rule Property

A set of constraints applied to a database field to ensure the data entered meets specific criteria before it can be accepted.

DateHired Field

A specific field in a database table that records the date an employee was hired.