Exam 11: Auditing of Governmental and Not-For-Profit Organizations

What are the objectives of the Single Audit Act Amendments of 1996 (and original Single Audit Act of 1984),and to whom is it applicable?

(Essay)

4.9/5

(42)

Question 61

An unqualified audit opinion rendered on a governmental unit's general purpose external financial statements means those statements

(Multiple Choice)

4.8/5

(29)

Question 62

Generally accepted government auditing standards (GAGAS)apply to audits of state and local governments only if they expend $500,000 or more in federal financial assistance.

(True/False)

4.8/5

(37)

Question 63

Which of the following kinds of information is not included within the scope of a financial statement audit of a state or local government?

(Multiple Choice)

4.8/5

(31)

Question 64

Describe the importance of materiality for auditors and explain how materiality is determined in audits of state and local governments that follow GASB standards.

(Not Answered)

Question 65

This question doesn't have any answer yet

Ask our community

Before an auditor agrees to provide a nonaudit service to an audited entity,the auditor should determine whether providing such a service would create a threat to independence with respect to any GAGAS audit or attestation engagement it performs.

(True/False)

4.9/5

(35)

Question 66

Showing 61 - 66 of 66

What are the objectives of the Single Audit Act Amendments of 1996 (and original Single Audit Act of 1984),and to whom is it applicable?

An unqualified audit opinion rendered on a governmental unit's general purpose external financial statements means those statements

Generally accepted government auditing standards (GAGAS)apply to audits of state and local governments only if they expend $500,000 or more in federal financial assistance.

Which of the following kinds of information is not included within the scope of a financial statement audit of a state or local government?

Describe the importance of materiality for auditors and explain how materiality is determined in audits of state and local governments that follow GASB standards.

Before an auditor agrees to provide a nonaudit service to an audited entity,the auditor should determine whether providing such a service would create a threat to independence with respect to any GAGAS audit or attestation engagement it performs.

Introduction to Accounting and Financial Reporting for Governmental and Not-For-Profit Entities

Principles of Accounting and Financial Reporting for State and Local Governments

Governmental Operating Statement Accounts; Budgetary Accounting

Accounting for Governmental Operating Activities-Illustrative Transactions and Financial Statements

Accounting for General Capital Assets and Capital Projects

Accounting for General Long-Term Liabilities and Debt Service

Accounting for the Business-Type Activities of State and Local Governments

Accounting for Fiduciary Activities-Agency and Trust Funds

Financial Reporting of State and Local Governments

Analysis of Governmental Financial Performance

Budgeting and Performance Measurement

Accounting for Not-For-Profit Organizations

Not-For-Profit Organizations-Regulatory, Taxation, and Performance Issues

Accounting for Colleges and Universities

Accounting for Health Care Organizations

Accounting and Reporting for the Federal Government

Filters