### Question
What is the definition of financial and compliance audit?


### Answer
The definition of **financial and compliance audit** is as follows in *42 U.S.C. § 300ee*:

> 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 6A-PUBLIC HEALTH SERVICE > SUBCHAPTER XXIII-PREVENTION OF ACQUIRED IMMUNE DEFICIENCY SYNDROME > Part A-Formula Grants to States**

