Compliance Audits Flashcards
1
Q
T/F: One of the auditors objectives for a compliance audit is to state an opinion
A
TRUE- auditor can state an opinion on compliance requirements
2
Q
What standards does SAS 117 incorporate for audits on compliance
A
AICPA Risk Assessment Standards
- Risk of material noncompliance which are “pervasive” to the financial statements
- Internal controls
3
Q
In a compliance audit the auditors MUST perform a test of details and cannot rely solely on the internal controls?
A
TRUE- There must be test of details
4
Q
In terms of presenting the compliance report, how can that be presented?
A
1) Combined with the audit report
2) Seperate report
