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LO 21-6 21-44. Simulation Page 867 Under the Single Audit Act, auditors must test for compliance with the specific requirements of all major programs.
LO 21-6 21-44. Simulation Page 867 Under the Single Audit Act, auditors must test for compliance with the specific requirements of all major programs. State whether each of the following is required under that act: Statement a Determine that the organization complies with generally accepted accounting principles applicable to the program. b. Determine that the organization complies with specific requirements regarding the activities allowed or not allowed by the program. c. Determine that wages paid are not more than those established for the locality of the project by the Department of Labor. d. Determine that the organization contributes the appropriate amount of its own resources to the program. e. Determine that federal funds were spent or obligated within the period of availability. f. Determine whether program income is correctly recorded and used in accordance with the program requirements. g Determine whether subrecipients monitor the compliance of recipients. h. Determine that only registered U.S. citizens work on the program. Determine that the organization does not contract with vendors that are suspended or debarred. J. Determine that the organization followed procedures to minimize the time elapsing between the transfer of funds from the U.S. Treasury and their disbursement. Is it required?
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