Single Audit Act of 1984

'The Single Audit Act of 1984 establishes uniform audit requirements for state and local governments receiving federal financial assistance. The law aims to improve financial management, establish audit standards, promote efficient use of resources, and ensure that federal agencies rely on audit work done under chapter 75 of title 31, United States Code. It requires audits by independent auditors in accordance with generally accepted government auditing standards, covering entire state or local government operations unless exempted. The law also specifies exemptions for governments receiving less than $25,000 in federal financial assistance and provides requirements for reporting and corrective action.'