Specifications include, but are not limited to: The audit will encompass a financial and compliance examination of the Town’s basic financial statements, supplementary information and compliance reports. The financial and compliance audit will cover federal, state and local funding sources in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in the following: • Government Auditing Standards issued by the U.S. Government Accountability Office; • Single Audit Act of 1984 and Single Audit Act Amendments of 1996, if applicable; • Provisions of the U.S. Office of Management and Budget OMB Circular No. A-133, Audits of States, Local Governments, and Non-Profit Organizations, if applicable; • Government Auditing Standards and Circular A-133 Audits issued by the American Institute of Certified Public Accountants; and • All other applicable laws and regulations