Audits

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Government audits are rigorous audits or examinations of an entity that expends $500,000 or more of federal assistance (commonly known as federal funds, federal grants or federal awards) received for its operations.[1][2][3] Usually performed annually,[4] the Single Audit’s objective is to provide assurance to the US federal government as to the management and use of such funds by different recipients, such as states, cities, universities and non-profit organizations, among others. The audit is typically performed by an independent certified public accountant (CPA) and encompasses both financial and compliance components.

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.[5]

Evaluating government websites

Government websites should include:

  • Information about regular audits.
  • Audit results should be posted online for the past 3-5 years.
  • Scheduled financial audits posted online
  • Performance audits should be conducted and posted online.

Audits are shown under the Budget and Finance link.

See also

Ballotpedia:Index of Terms

References