Accounting For Governmental & Nonprofit Entities
18th Edition
ISBN: 9781259917059
Author: RECK, Jacqueline L., Lowensohn, Suzanne L., NEELY, Daniel G.
Publisher: Mcgraw-hill Education,
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Chapter 11, Problem 19.13EP
To determine
Find the correct option, the option that is not part of the reporting package for a single audit.
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Based on the information in scenario C, classify the information (1-8) according to the elements of an audit finding (criteria, condition,cause, effect and recommendations)
The Government Accountability Office (GAO) describes expanded-scope governmentalauditing to include all of the following excepta. Financial statement audits.b. Attestation engagements.c. Compliance audits.d. Performance audits.
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a) To determine the timing of the audit work.
b) To communicate the results of the audit.
c) To document the scope, objective(s), preliminary risk assessment and plan for the audit.
d) To document the plan for substantive audit requirements.
Chapter 11 Solutions
Accounting For Governmental & Nonprofit Entities
Ch. 11 - Prob. 1QCh. 11 - Prob. 2QCh. 11 - Prob. 3QCh. 11 - Prob. 4QCh. 11 - Prob. 5QCh. 11 - Prob. 6QCh. 11 - Prob. 7QCh. 11 - Prob. 8QCh. 11 - Prob. 9QCh. 11 - Prob. 10Q
Ch. 11 - Background. Lake View Mental Health Affiliates, a...Ch. 11 - Prob. 12CCh. 11 - Prob. 14CCh. 11 - Custer County receives pass through funds from the...Ch. 11 - Prob. 16CCh. 11 - The city council members of Laurel City are...Ch. 11 - Prob. 19.1EPCh. 11 - Prob. 19.2EPCh. 11 - Prob. 19.3EPCh. 11 - Prob. 19.4EPCh. 11 - Prob. 19.5EPCh. 11 - Prob. 19.6EPCh. 11 - Prob. 19.7EPCh. 11 - Prob. 19.8EPCh. 11 - Dan Cole is the head of the countys Division of...Ch. 11 - Prob. 19.10EPCh. 11 - Prob. 19.11EPCh. 11 - Prob. 19.12EPCh. 11 - Prob. 19.13EPCh. 11 - Prob. 21EPCh. 11 - Prob. 22EPCh. 11 - Prob. 23EPCh. 11 - Prob. 24EPCh. 11 - Prob. 25EP
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- Which of the following BEST (select one) describes the purpose of the audit work program? a) To communicate the results of the audit. b) To document the plan, scope and objectives of the audit. c) To document that sufficient and reliable evidence was obtained to support the audit objectives. d) To verify and substantiate the results of the preliminary field work.arrow_forwardWhich of the following plays an important role in all field audits? Adjustments. Verification of income. Filing status. Tax credits.arrow_forwardExplain the content of each section of the AICPA audit report. Evaluate the importance of each section with respect to the users of financial reports.arrow_forward
- 23. Which of the following types of audits is designed to determine that an organization has complied with the specific requirements of major financial assistance programs? Group of answer choices An audit in accordance with Government Auditing Standards. A single audit. An audit in accordance with generally accepted auditing standards. An operational audit.arrow_forwardThe phases in the internal audit process are: determining audit assignment and overall plan; planning the internal audit (engagement planning); performing the engagement (fieldwork) and audit reporting and follow up. Based on scenario B, name which phase of the internal audit process each of the activities (a - f) listed fallsarrow_forwardThe internal audit risk assessment process: [SELECT ALL THAT APPLY] a) Provides the Internal Audit function with an ability to prioritize risk areas based on objective and subjective evaluation criteria. b) Should be considered the foundation of the audit function. c) Leads to the creation of the annual audit plan and audit budget. d) Should leverage management's enterprise risk management assessment process, if appropriate.arrow_forward
- Compare and contrast the objectives of financial, compliance, operational audit and government audit. Include in your answer who performs each type of audit.arrow_forwardWhich of the following is required documentation in an audit in accordance with generally acceptedauditing standards? Group of answer choices a. A flowchart or narrative of the accounting system describing the recording and classification of transactions for financial reporting. b. All major stakeholder groups. c. An internal control questionnaire identifying controls that assure specific objectives will be achieved. d. The overall audit strategy and audit plan.arrow_forwardWhich of the following stakeholders rely on internal audit report? a. General public b. Investors c. Government agencies d. Managementarrow_forward
- These are standards against which the assertions or representations are judged. They maybe specific rules prescribed by a legislative body, budgets and other measures of performance set by management. A. Audit objectives B. Government regulations C. Established criteria D. Audit assertionsarrow_forwardSubject- Audit SUMMARIZE THE CORE ISSUES for the following topic:- ISA 510, Subsequent Eventsarrow_forwardOnce the overall audit strategy has been established, what can be developed to address the various matters identified in the overall audit strategy, taking into account the need to achieve the audit objectives through the efficient use of the auditor’s resources. A.audit strategy B.audit plan C.audit plan and audit strategy D.audit note bookarrow_forward
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