Types of Audits

Site Visit

A Site Visit is an evaluation of institutions’ programs and financial operations for the purpose of assessing effectiveness and efficiencies in meeting goals and objectives. Typically referred to as “not an audit” this type of review is conducted at the institution and involves review of written policies and procedures, visual documentation and faculty and staff interviews. Site visits may last several days and include observing facilities, interacting with employees and scrutinizing documents.  The results are an assessment in the form of a written report to senior management.

Desk Review

Desk Review is an evaluation of a program or business operations in which written documentation is submitted, reviewed and analyzed for accuracy and completeness at reviewers’ site.

Single Audit

Single Audit (formerly known as OMB A-133) is a rigorous, organization-wide audit or examination of an entity that expends $750,000 or more of Federal assistance in the form of federal awards, i.e. grants, cooperative agreements, subawards received for its operations.  Usually performed annually, the Single Audit’s objective is to provide assurance to the Federal Government as to the management and use of federal funds by recipients such as states, cities, universities, and non-profit organizations.  The audit is typically performed by an independent certified public accounting firm and encompasses both financial and compliance components.  The Single Audit must be submitted to the Federal Audit Clearinghouse (FAC) along with a data collection form.

Legislative Audit

Legislative Audit is an independent objective audits of state agencies and programs to ensure fiscal soundness and compliance with applicable state regulations.

Inspector General (OIG) Audit

Office of Inspector General (OIG) Audit is a federal OIG’s conducts independent audits and investigations on behalf of Congress and executive branch of government.  Each agency is governed by an OIG

Internal Audit

Internal Audit is an audit conducted by employees within an organization to analyze its business operations to disclosure weaknesses and assess risk for noncompliance with applicable laws and regulations.

Sponsor Audit (also known as Agency Specific Audit)

Sponsor Audit (also known as Agency Specific Audit) is an examination to ensure compliance with sponsor guidelines and award terms.


Financial Statement and Other Related Financial Audits

Financial Statement audits provide an independent assessment of and reasonable assurance about whether the Department's reported financial condition, results and use of resources are presented fairly in accordance with recognized accounting criteria. Reporting on financial audits performed in accordance with GAGAS(I.) also includes reports on internal control, compliance with laws and regulations, and provisions of contracts and grant agreements relating to financial transactions, systems and processes. Chapter 12 provides guidance for conducting and reporting on financial audits. Financial Statement audits performed under GAGAS include financial statement audits and other related financial audits. The primary purpose of a financial statement audit is to provide reasonable assurance through an opinion (or disclaim an opinion) about whether an entity's financial statements are presented fairly in all material respects in conformity with GAAP(II.) or with a comprehensive basis of accounting other than GAAP.

  1. GAAP – Generally Accepted Accounting Principles
  2. GAGAS – Generally Accepted Government Auditing Standards


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