1. Single Audit Act Workshop 2002: Single Audit in Europe November 26, 2002

2. General Topics of Discussion Background and Key Single Audit Act Provisions Identification of legislation with provisions that conflict with the Single Audit Act

3. History 1979 “Inconsistency, gaps and duplication 1984 Single Audit Act Office of Management and Budget Involvement 1994 Major GAO report 1996 Single Audit Act Amendments

4. Key Amendments Law extended to all recipients More cost-beneficial audit thresholds Broader risk-based audit focus More timely reporting Better basis for analysis Pilot projects

5. Law Extended to All Recipients 1996 Amendments consolidated audit requirements for State and local governments and nonprofit organizations As a result of the amendments, OMB consolidated A-128 and A-133 into a revised A-133

6. More Cost-Beneficial Threshold Threshold for audit requirement raised from $100,000 to $300,000 OMB evaluation of threshold every 2 years

7. Broader Risk-Based Focus Select programs to audit identify large dollar programs identify risk at large dollar programs identify high-risk smaller dollar programs audit high-risk large dollar and selected smaller dollar programs

8. Broader Risk-Based Focus Risk factors now considered in determining programs audited recipient’s current and prior audit experience with federal programs results of recent oversight visits program inherent risk

9. Broader Risk-Based Focus Many programs that would have been audited are not audited Many programs that would not have been audited in the past are audited

10. Better Basis for Analysis Clearinghouse database accessible through the internet (http://harvester.census.gov/sac) Clearinghouse database query options

11. More Timely Reporting Organizations with fiscal years beginning after 6/30/98 must submit their audit reports no later than 9 months after their fiscal year-end Clearinghouse receives about 34,000 reports annually

12. Pilot Projects Purpose and objectives of pilot projects One pilot project approved (Washington state audits of education programs)

13. Legislation Monitoring Single Audit Act requires GAO monitoring of all proposed legislation for conflicts with Single Audit Act provisions

14. Barriers/Issues How do you know if all required single audits are conducted? Are auditors following applicable standards when conducting the audits? Is adequate monitoring occurring to ensure that recipients of federal funds correct findings reported in single audit reports?