Exam 26: Internal and Governmental Financial Auditing and Operational Auditing

In addition to an opinion on whether the financial statements are in accordance with GAAP,identify four other reports required by the OMB Circular A-133/2 CFR 200 subpart F.

The Internal Auditing Standards Board issues Statements on Internal Auditing Standards.

Discuss three major differences between operational and financial auditing.

Government auditing standards are included in the Yellow Book.

Which of the following can affect the independence of operational auditors?

Operational auditors must accumulate sufficient appropriate evidence to provide a basis for a conclusion about the objectives being tested.

Which of the following is not one of the major differences between financial and operational auditing?

Which of the following best describes an audit that emphasizes how efficiently and effectively functions interact?

When a state or local government agency receives federal funds,it is subject to the audit requirements of

List the three purposes of a program audit.

The two most important qualities for an operational auditor are

The International Standards for the Professional Practice of Auditing list seven performance standards.List three.

The objectives of internal auditors are considerably broader than the objectives of external auditors.

Auditors involved in planning,performing,or reporting on audits under Generally Accepted Government Auditing Standards (GAGAS)must complete ________ hours of continuing professional education in each two-year period.

The formal name of the Yellow Book is Government Auditing Standards.

Which one of the following is not a major difference between operational and financial auditing?

Extensive professional development is necessary for auditors doing governmental audits.

Which of the following is not a difference between operational auditing and financial auditing?

Which of the following is not a purpose of a program audit as performed by government auditors?

Which of the following is most correct with regard to the comparison of the financial auditing standards of the Yellow Book with the principles of the AICPA auditing standards?