The Single Audit Act Intends That Auditors Conducting Regular Financial

Multiple Choice

The Single Audit Act intends that auditors conducting regular financial audits of state and local governments and not-for-profits organizations provide assurance to the federal government that:

A) Federal funds have been expended in accordance with laws and regulations.
B) Federal funds are protected through a system of internal controls and sound financial management practices.
C) Both A and B above.
D) Neither A nor B above.