The Audit Program - Sample Opinion Reports

Date Issued 5/02 SECTION III – REPORTING CHAPTER 2 – SAMPLE OPINION REPORTS Directives for Auditor’s Reports In July 1996 the Single Audit Act Amendments of 1996, P.L. 104-156 were signed into law and are effective for fiscal years beginning after June 30, 1996. U.S. Office of Management and Budget (USOMB) Circular A-133 Revised, Audits of States, Local Governments, and Non-Profit Organizations, issued June 24, 1997 and effective for fiscal years beginning after June 30, 1996, implements the 1996 Single Audit Act Amendments and rescinds USOMB Circular A-128. The State of New Jersey Office of Management and Budget (NJOMB) Circular Letter 98-07, Single Audit Policy for Recipients of Federal Grants, State Grants and State Aid, establishes state policy and procedures for single audits and is effective for fiscal years beginning after June 30, 1996. NJOMB Circular Letter 98-07 supersedes Circular Letters 93-05-OMB and 97-08-OMB and requires recipient single audits to contain reports and opinions for State funds similar to those required for federal single audits. On March 17, 1998, the AICPA issued SOP 98-3, Audits of States, Local Governments, and Not-for-Profit Organizations Receiving Federal Awards to provide guidance on the auditor's responsibilities when conducting a single audit or program specific audit in accordance with the Single Audit Act Amendments of 1996 and USOMB Circular A-133. The SOP is applicable to audits of fiscal years beginning ...