Problems in Reimbursing State Auditors for Audits of Federally Assisted Programs, General Services Administration: Report to the Congress

Front Cover
General Accounting Office, 1975 - Auditing - 20 pages
 

What people are saying - Write a review

We haven't found any reviews in the usual places.

Selected pages

Other editions - View all

Common terms and phrases

Popular passages

Page 1 - The head of each executive agency shall establish and maintain systems of accounting and internal control designed to provide — (1) full disclosure of the financial results of the agency's activities; (2) adequate financial information needed for the agency's management purposes ; (3) effective control over and accountability for all funds, property, and other assets for which the agency is responsible, including appropriate internal audit...
Page 2 - Federal agencies will coordinate their audit requirements and approaches with these organizations to the maximum extent possible. The scope of individual Federal audits will give full recognition to the non-Federal audit effort. Reports prepared by non-Federal auditors will be used in lieu of Federal audits if the reports and supporting workpapers are available for review by the Federal agencies, if testing by Federal agencies indicates the audits are performed in accordance with generally accepted...
Page 3 - ... provide for audit coverage of unforeseen priorities. (f ) Coordination of audit work. Federal agencies will coordinate and cooperate with each other in developing and carrying out their individual audit plans. Such actions will include continuous liaison; the exchange of audit techniques, objectives, and plans; and the development of audit schedules to minimize the amount of audit effort required. Federal agencies will encourage similar coordination and cooperation among Federal and nonFederal...
Page 6 - Advisory councils. Costs incurred by State advisory councils or committees established pursuant to Federal requirements to carry out grant programs are allowable. The cost of like organizations is allowable when provided for in the grant agreement. 4. Audit service. The cost of audits necessary for the administration and management of functions related to grant programs is allowable.
Page 3 - ... frequency, the locations to be audited, and the reasons therefor* (5) Scope of audit coverage to be provided and the reasons therefor; and (6) Anticipated benefits to be obtained from the audits. The plans should be adjusted as necessary to provide for audit coverage of unforeseen priorities. f. Coordination of audit work. Federal agencies will coordinate and cooperate with each other in developing and carrying out their individual audit plans. Such actions will include continuous liaison; the...
Page 2 - Federal agencies to determine the feasibility of one of the agencies' conducting audits for the others, and to work out mutually agreeable arrangements for carrying out the required audits on the most efficient basis. (d) Reliance on non-Federal audits. In developing audit plans, Federal agencies administering programs in partnership with organizations outside of the Federal Government will consider whether these organizations require periodic audits and whether the organizations have made or arranged...
Page 19 - The grantee will schedule such audits with reasonable frequency, usually annually, but not less frequently than once every two years, considering the nature, size, and complexity of the activity.
Page 12 - Standards for Audit of Governmental Organizations, Programs, Activities & Functions issued by the Comptroller General of the United States.
Page 16 - OMB and other Federal agencies to develop effective procedures for reimbursing State and local auditors for audits of federally assisted programs.

Bibliographic information