Single Audit Act of 1984

(Senate agreed to House amendment with an amendment)

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.

Establishes single financial audit requirements for State and local governments that receive in excess of $25,000 but less than $100,000 in Federal assistance in any fiscal year.

Declares that an audit conducted in accordance with this Act shall be in lieu of any financial or financial and compliance audit of an individual Federal assistance program 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.

Requires the Comptroller General to review provisions requiring financial or financial and compliance audits of recipients of Federal assistance that are contained in bills and resolutions reported by the congressional committees.

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 December 31, 1984.

Requires the Director of the Office of Management and Budget, on or before May 1, 1987, 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.