### Question
How does THE CHILDREN'S BUREAU define financial and compliance audit?


### Answer
Under *42 U.S.C. § 300ee*, **financial and compliance audit** is defined as:

> an audit to determine whether the financial statements of an audited entity present fairly the financial position, and the results of financial operations, of the entity in accordance with generally accepted accounting principles, and whether the entity has complied with laws and regulations that may have a material effect upon the financial statements

#### Citation:
  - *42 U.S.C. § 300ee*
  - Heading: **CHAPTER 6-THE CHILDREN'S BUREAU > SUBCHAPTER XXIII-PREVENTION OF ACQUIRED IMMUNE DEFICIENCY SYNDROME > Part A-Formula Grants to States**

