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covering both years , if the government so requests. It shall also <br /> honor requests for biennial audits by governments that have an <br /> administrative policy calling for audits less frequent than <br /> annual, but only for fiscal years beginning before <br /> January 1, 1987 . <br /> The audit shall be made by an independent auditor . <br /> An independent auditor is a state or local government auditor or a <br /> public accountant who meets the independence standards specified <br /> in the General Accounting Office 's Standards for Audit of <br /> Governmental Organizations , Programs, Activities, and Functions. <br /> The audit report shall state that the audit was <br /> performed in accordance with the provisions of OMB Circular A-128 <br /> (or A-110 as applicable) . <br /> • The audit report shall include: <br /> A. The auditor ' s report on financial statements <br /> and on a schedule of federal assistance; the financial statements; <br /> and a schedule of federal assistance, showing the total <br /> expenditures for each federal assistance program as identified in <br /> the Catalog of Federal Domestic Assistance. Federal programs or <br /> grants that have not been assigned a catalog number shall be <br /> identified under the caption "other federal assistance" . <br /> B. The auditor 's report on the study and <br /> evaluation of internal control systems must identify the <br /> organization 's significant internal accounting controls, and those <br /> controls designed to provide reasonable assurance that federal <br /> programs are being managed in compliance with laws and <br /> • <br /> Page No. 11 <br />