Multiple Choice
Which of the following statements concerning the identification of a Type A low-risk program is true?
A) A Type A program can be considered low-risk if it has been audited as a major program in one of the last two years, and the most recent audit had no internal control deficiencies or a modified opinion on the program.
B) A Type A program is low-risk if it was audited as a major program last year, whether or not there were any reportable audit findings.
C) A Type A program is low-risk if there were no audit findings within the last two years.
D) A Type A program can never be classified as low-risk.
Correct Answer:
Verified
Correct Answer:
Verified
Q35: Generally accepted governmental auditing standards are issued
Q36: Match the following audit items with the
Q37: An auditor must audit as a major
Q38: <span class="ql-formula" data-value="\underline{\text{ Requirement: }}"><span class="katex"><span class="katex-mathml"><math
Q39: Auditors are responsible for<br>A) Preparing a government's
Q40: In order for a government to have
Q41: What is a low-risk auditee, and what
Q42: If required to perform risk assessments on
Q43: Generally accepted government auditing standards (GAGAS) are
Q45: What is a major federal program? Why