The Single Audit Act (SAA) of 1984, as amended in 1996, encourages sound financial management by those who receive federal funds. Single audits are designed to help the federal government protect and safeguard federal funds by exercising proper oversight of non-federal entities’ expenditures of federal grant monies. Consistent with the provisions of the SAA, auditors function as chief agents of federal control to enhance accountability between the federal government and the nonfederal recipients of federal grant awards. Auditors’ reporting of single audit findings provides the opportunity to take actions that hold recipients of federal grant awards accountable for spending of federal funds. The study consisted of an examination of auditors’ perceptions, based on lived experiences, of how the reporting of single audit findings affects non-federal entities’ ability to receive federal grant awards subsequent to the issuance of single audit reports in accordance with the Office of Management and Budget’s (OMB) Circular A-133 and Uniform Guidance. The researcher used qualitative research method and Moustakas’ transcendental phenomenology research design to purposefully select a sample of 20 certified public accountants with at least 3 years of experience in single audits from the population of licensed certified public accountants who performed single audits in the state of New Mexico and were approved by the New Mexico State Auditor Office as independent public accountants for governmental entities in New Mexico. The researcher used the modified Van Kaam analysis method to analyze data collected in the interviews of research participants. This study sought to understand how auditors experience the effectiveness of the SAA as an accountability mechanism for the federal government to oversee expenditures of federal grant awards by non-federal grantees and found that federal grant making agencies do not affect consequences to non-compliant recipients of federal grant awards in response to reported single audit findings.
|Commitee:||Dell'Osso, Linda, St. James, Warren|
|Department:||School of Business and Technology|
|School Location:||United States -- Minnesota|
|Source:||DAI-A 79/12(E), Dissertation Abstracts International|
|Subjects:||Accounting, Management, Public administration, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Public Finance Activities|
|Keywords:||Audit finding, Auditing, Federal grant, Governmental accounting, Not-for-profit accounting, Single Audit Act|
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