Auditing state and local and steps not required 1or local governments and private nonprofit organizations. to the audit of state and an vernments and private nonprofit organizations often requires a udit of for profit organizations. Answer the following questions re dditional for the audit of for profit or late DISCUSSION QUESTIONS RELATING TO AUDITS OF STATE AND (1What is the Yellow Book and what influence does it have over the audits of both state and (2) What is a single audit? What deficiencies in previous practice was the Single Audit Act (3) What are the two main components of a single audit? LOCAL, GOVERNMENTS AND PRIVATE NONPROFIT ORGANIZATIONS local governments and nonprofit organizations? intended to correct? (4) What are the four main types of reports required of a single audit