Page:United States Statutes at Large Volume 98 Part 2.djvu/1167

 PUBLIC LAW 98-502—OCT. 19, 1984

98 STAT. 2327

Public Law 98-502 98th Congress An Act To establish uniform audit requirements for State and local governments receiving Federal financial assistance.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

Oct. 19, 1984 [S. 1510]

Single Audit Act of 1984.

SHORT TITLE; P U R P O S E

SECTION 1. (a) This Act may be cited as the "Single Audit Act of 31 USC 7501 1984". note. (b) It is the purpose of this Act— (1) to improve the financial management of State and local governments with respect to Federal financial assistance programs; (2) to establish uniform requirements for audits of Federal financial assistance provided to State and local governments; (3) to promote the efficient and effective use of audit • resources; and (4) to ensure that Federal departments and agencies, to the ' maximum extent practicable, rely upon and use audit work done pursuant to chapter 75 of title 31, United States Code (as ^' added by this Act). AMENDMENT TO TITLE 3 1, UNITED STATES CODE

SEC. 2. (a) Subtitle V of title 31, United States Code, is amended by adding at the end thereof the following new chapter:

"CHAPTER 75—REQUIREMENTS FOR SINGLE AUDITS "Sec. "7501. "7502. "7503. "7504. "7505. "7506. "7507.

Definitions. Audit requirements; exemptions. Relation to other audit requirements. Cognizant agency responsibilities. Regulations. Monitoring responsibilities of the Comptroller General. Effective date; report.

"§ 7501. Definitions 3i use 7501. "As used in this chapter, the term— "(1) 'cognizant agency' means a Federal agency which is assigned by the Director with the responsibility for implementing the requirements of this chapter with respect to a particular State or local government. "(2) 'Comptroller General' means the Comptroller General of the United States. "(3) 'Director' means the Director of the Office of Management and Budget.

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