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96.101 - Purpose and scope of subpart.


The Single Audit Act of 1984 (Act), Public Law 98-502 builds upon earlier efforts to improve audits of Federal aid programs. The Act requires State and local governments and Indian tribes that receive Federal assistance equal to or in excess of $100,000 a year to have an audit made annually, or under certain circumstances, biennially. Governmental units receiving between $25,000 and $100,000 annually may follow either the audit requirements of the Act or those contained in the Federal statutes and regulations under which such Federal assistance is provided. OMB Circular A-128 was issued pursuant to section 7505 of the Act, which requires the Director of the Office of Management and Budget to issue implementing guidelines. It specifies that the guidelines include procedures for the assignment of cognizant Federal agencies, criteria for determining the appropriate charges to Federal programs for the cost of audits and procedures to assure that small business concerns and business concerns owned and controlled by socially and economically disadvantaged individuals have the opportunity to participate in contracts awarded to fulfill the single audit requirements. This subpart implements the guidance provided in Circular A-128 by establishing uniform audit requirements and policy for State and local governments and Indian tribes that receive Federal assistance from DOL.