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Class, focusing again on the importance of audits, why might an audit be required of an organization or program?

"Single Audit Act" Just in simple terms, how does that apply to an organization receiving federal grant money? Is the limit now $300,000 or $500,000 or some other number?

Do you suppose that other grantors might require a nonprofit organization to have a financial audit?

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A single audit act otherwise known as the OMB A-133 audit, is an organization wide audit
which is conducted on firms which have received federal grants or federal assistance of more
than $ 50,000...

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