some granting agencies do not receive as much information about their grant programs as when separate grant audits are performed. As a result, some granting agencies require audit work that goes beyond the single audit requirement;

Audit requirements are triggered by federal funds expended rather than funds received

The U.S. Congress adopted the Single Audit Act (SAA; Public Law 98-502) in 1984 to establish entity-wide audit requirements for state and local governments and Indian tribal governments receiving federal financial assistance.

There is no single audit is performing in the company.Like there are many audits are conducted like, Quality control,Finance,Marketing,Production etc

So the quality of the AUDIT can be judged through the Results it produced after the audit,and the quality of the Company who is conducting that audit.

Through this you can check this out.

Nevertheless, smaller nonprofits and those new to federal program assistance and those organizations with prior single audit findings had a significantly higher rate of adverse audit findings.