Gearty & Duffy, Certified Public Accountants, Have Been Engaged to Perform

Multiple Choice

Gearty & Duffy, certified public accountants, have been engaged to perform a single audit of Sleepy Knoll Township, a local government receiving substantial federal financial assistance for community development and housing assistance. A single audit represents:

A) An audit of annual activity of only federal financial assistance programs over the course of the town's fiscal year.
B) An inception to date audit of only federal financial assistance programs over the course of the grant year specified by the grant award.
C) An audit of the township's financial statements and of compliance with federal regulations relating to federal financial assistance as prescribed by the Single Audit Act and OMB Circular A-133.
D) An audit of the township's financial statements and the fair presentation of the revenues derived from federal financial assistance.