Single Audit Quality: Actions Needed to Address Persistent Audit Quality Problems Page: 3 of 23
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Mr. Chairman and Members of the Subcommittee:
I am pleased to be here today to discuss GAO's analysis of the results of
the Report on National Single Audit Sampling Project' recently issued by
the President's Council on Integrity and Efficiency (PCIE) under the
direction of the Office of Management and Budget (OMB). First, I would
like to commend the PCIE for conducting this comprehensive and
important study dealing with the quality of single audits. The single audit is
a key accountability mechanism over the use of federal grants and other
awards. In fiscal year 2007, $449 billion in federal grants was budgeted to
state and local governments. The PCIE report raises significant concerns
about the quality of single audits, and makes recommendations aimed at
improving the effectiveness and efficiency of those audits.
Today, I will provide (1) GAO's perspective on the history and importance
of the Single Audit Act and the principles behind the act, (2) our
preliminary analysis of the recommendations made by the PCIE for
improving audit quality, and (3) additional factors for consideration for
improving the quality of single audits. My statement today is based on our
continuing work as the standards setter for generally accepted
government auditing standards (GAGAS) and our related work in the area
of single audits, including ongoing interaction with key stakeholders in the
single audit process and members of the auditing profession providing
single audit services to recipients of federal awards. In addition, this
statement is based on our analysis of the PCIE report, and our discussions
with the PCIE project team, the American Institute of Certified Public
Accountants (AICPA), and OMB.
'President's Council on Integrity and Efficiency (PCIE)/Executive Council on Integrity and
Efficiency (ECIE), Report on National Single Audit Sampling Project (June 2007). The
project was conducted under the auspices of the Audit Committee of the PCIE, as a
collaborative effort involving PCIE member organizations, as well as a member of the ECIE
and three State Auditors. The project was performed to determine the quality of single
audits using statistical methods and to make recommendations to address noted audit
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United States. Government Accountability Office. Single Audit Quality: Actions Needed to Address Persistent Audit Quality Problems, text, October 25, 2007; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc290946/m1/3/: accessed February 19, 2019), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.