3 Factors Driving Single Audit Quality [Infographic]
Single audits are a highly specialized type of compliance audit performed on states, local governments and not-for-profit organizations that expend $750,000 or more of federal assistance in a single year. Given that both the public and federal agencies rely on single audits to confirm that these organizations are managing federal funds appropriately, it’s important that firms perform high-quality single audits.
That’s why the AICPA Peer Review Program recently conducted a study to determine which factors made a difference in single audit quality. Take a look at the infographic below to learn more about the three quality factors the AICPA identified and the steps firms can take to perform high-quality single audits.