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Lake View Mental Health Affiliates, a non-governmental not-for-profit organization has contracted William Wise, CPA, about conducting an annual audit for its first year of operations.

Lake View Mental Health Affiliates, a non-governmental not-for-profit organization has contracted William Wise, CPA, about conducting an annual audit for its first year of operations. In discussions with Lake Views controller certain facts came to light that made William Wise question if a single audit was necessary.

Assuming a single audit is required, explain how that would impact the fee that William Wise should charge for the audit?

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