Each year, the government awards billions of dollars in grants, loans, loan guarantees, property, cooperative agreements, interest subsidies, insurance, food commodities, direct appropriations and federal cost reimbursements that are subject to audit requirements.
Evaluating government websites
Government websites should include:
- Information about regular audits,
- Audit results for the past 3-5 years,
- Scheduled financial audits, and
- Performance audits should be conducted and posted online.
Audits are shown under the Budget and Finance link.
In 1972, the Government Accountability Office (GAO) released a set of standards known as the Yellow Book. These standards are to be used by auditors "for conducting high quality audits with competence, integrity, objectivity, and independence." These standards have been kept up-to-date through the work of the Yellow Book Advisory Council. The Yellow Book Advisory Council makes comments, revisions and suggestions to the GAO, which then considers that input before publishing a new version. The Yellow Book standards are to be used by all auditors conducting audits of governmental agencies, organizations that receive government funds and any other organization that stipulates to the Yellow Book standards. Auditors using the Yellow Book as their foundation are "lead[ers]...in the areas of independence, transparency, accountability, and quality through the audit process."<ref name=GAO/)
- OMB Office of Federal Financial Management, "The Single Audit," accessed October 8, 2014
- OMB Office of Federal Financial Management, "Circular A-133; Subpart B" - Audits; §___.200 - Audit requirements, accessed October 8, 2014
- tgci.com, "Understanding Single Audits," accessed October 8, 2014 by Henry Flood, Grantsmanship Center Magazine, Fall 2002, retrieved on June 30, 2006
<ref>tag; no text was provided for refs named
Cite error: Invalid
- American Institute of CPAs, "What is a Governmental Audit?" archived February 9, 2010
- Government Accountability Office, "The Yellow Book," accessed January 24, 2015