"single audit" is a correct and usable phrase in written English.
It is often used in the context of government or nonprofit organizations to refer to the audit of their financial statements and compliance with federal grant requirements in a single unified audit. Example: The city's financial department announced that they had successfully completed a single audit for the previous fiscal year, demonstrating their compliance with federal regulations and proper use of grant funds.
Created by Congress in 2008 and modeled after a similar program in Iraq, the office produced a single audit in its first year.
Thanks to the Single Audit Act of 1984 and supporting regulations from the Office of Management and Budget, governmental entities and not-for-profit organizations receiving federal assistance must submit to independent audits.
Three major accounting firms have criticized the proposal, saying that there was no proof that even a single audit has been compromised because an accounting firm had other relationships with the company.
"The cost of a single audit is huge, and for a lot of organizations it's almost crippling," he said.
To facilitate a recipients's compliance with Federal laws and regulations, and as well as its annual Single Audit, the OMB created fourteen basic and standard compliance requirements that recipients must comply with when receiving and using such Federal assistance.
Subrecipient monitoring may consist of site visits, regular contact, interviews, meetings and examinations of the subrecipient, as well as requiring that the subrecipient be subject to an annual single audit.
Thus a single auditing firm operating in two different provinces is considered as two different auditing firms.
Because sanctions are imposed because of a single, specific audit rather than systematic audit malpractice, if penalized auditors are not bad auditors, then changes in auditor's behavior in the post-inspection period are expected to be marginal, regardless of the economic and reputation losses subsequent to the public disclosure of sanctions.
"I have not heard of a single church audit since then," Mr. Owens said.
A single bad audit may bring in fees of less than $1 million — and liability of half a billion dollars.
VRE bacteremia case-reporting errors between January 2009 and August 2013 were identified by a single retrospective audit.
