Governmental Audit Flashcards
Our responsibility to express opinion on compliance
Single audit report
Providing opinion on compliance was not an object of audit
Yellow book
Expenditures of federal awards
Schedule of the Expenditures of federal awards
Do not express our opinion on internal control over compliance
Single audit report
In performing FS audit in accordance with Gov auditing standards auditor is required to report on compliance with laws and regulations. The report should
State that the audit should be planned to obtain reasonable assurance about whether non compliance could have material effect on entities program
Government Standards published by Government Accountability Office
Primary apply to audits of federal fin assistance and government organization
Financial audits, attest engagements, performance audit
In performing FS audit in accordance with Gov Auditing Standards, auditor is required to report on compliance with laws and reg. This report should
State that the audit should be planned to obtain reasonable assurance about non-compliance material effect on entities program
Which of the following is a documentation requirement that auditor should follow when uaditing in accordance with Government Auditing Standards?
No oral exanation needed
Management written representation to the auditor in connection with a governmental audit would most likely include
Identification of management interpretation of compliance requirements that are subject to different interpretation
A report on internal control over compliance will jnclude
A disclaimer of opinion on internal control over compliance
The auditor’s report on compliance and internal control over Compliance designed to meet the requirements of Yellow book (Government auditing standards)
The scope of auditor’s testing on internal control
Government Auditing Standards are different from GAAS
Government standards require describe the scope of auditor’s tests of compliance with laws and regulations
Single audit act
Expends more than $750,000.
Management Written representation letter in connection with government audit would include
A statement that management has disclosed any communication from geantors
