(1) All audits performed under 2-7-503, MCA, must be conducted in accordance with Government Auditing Standards, issued by the comptroller general of the United States (see ARM 2.4.411(3) ) , that are applicable to financial audits. Those standards incorporate generally accepted auditing standards as adopted by the American institute of certified public accountants.

(2) Audits must conform to the requirements of the Federal Single Audit Act of 1984 as amended by the Single Audit Act Amendments of 1996 (P.L. 104-156) and the OMB Circular A-133 (see ARM 2.4.411(4) ) .

(3) All audit reports shall comply with the reporting standards for financial audits prescribed in Government Auditing Standards as established by the comptroller general of the United States, which incorporate the standards of reporting for financial audits prescribed by the American institute of certified public accountants (see ARM 2.4.411(3) ) .

(4) For audits conducted under the provisions of the OMB Circular A-133, the audit reports must comply with the reporting requirements of that circular (see ARM 2.4.411(4) ) .