What types of audits does the APA perform?
As with public accounting firms, the APA also has seasonal work. From April to December, our work is focused on two statewide audits. The audit of the Commonwealth’s Comprehensive Annual Financial Report (CAFR) and the Statewide Single Audit. The CAFR is the state’s financial statements. Work to support this audit is performed at two levels. The first level includes central audit work at the Departments of Accounts and Treasury. This audit includes the compilation of financial data and the review of statewide systems and processes. The second level is the individual state agency and higher education institution audits. Individual audits at this level include the Departments of Taxation, Health, Employment Commission, Medical Assistance Services, Social Services, Retirement System, Transportation, VCU, Lottery, VA Tech and UVA to name just a few. The Statewide Single Audit is the state’s audit of federal financial assistance programs. Again the audit is performed at two levels. The firs
