Single Audit Act of 1984

(Measure passed House, amended)

Single Audit Act of 1984 - Amends title 31 of the United States Code to add a new chapter 75 - Requirements for Single Audits.

Establishes single financial audit requirements for State and local governments that receive $100,000 or more in Federal assistance in any fiscal year.

Declares that a financial and compliance audit conducted in accordance with this Act shall be in lieu of any other financial and compliance audit which a State or local government is required to conduct under any other Federal law or regulation.

Requires a Federal agency to conduct any additional audits necessary to carry out its responsibilities under Federal law or regulation.

Requires the Director of the Office of Management and Budget to prescribe regulations to implement this Act.

Declares that the provisions of this Act shall apply to any State or local government with respect to any of its fiscal years which begin after June 30, 1984.

Requires the Director of the Office of Management and Budget, on or before May 1, 1986, and annually thereafter, to submit to Congress a report on operations of such audits. Requires such report to identify each State or local government which is failing to comply.