Questions from Accounting for Government and Non-Profit

Q: What are the benefits of having an audit committee?

What are the benefits of having an audit committee?

Q: The following is the pre-closing trial balance for Horton University

The following is the pre-closing trial balance for Horton University as of June 30, 2011. Additional information related to net assets and the statement of cash flows is also provided. Additional i...

Q: What are the three levels of audit to which a government or

What are the three levels of audit to which a government or not-for-profit entity may be subject? Who is responsible for setting the standards or requirements for each of the three levels identified?...

Q: What is an opinion unit and of what significance is an opinion

What is an opinion unit and of what significance is an opinion unit to the auditor?

Q: A new board member for the Fire Protection District (a special

A new board member for the Fire Protection District (a special purpose government) was reviewing the audit report for the district and noted that, although the district received an unqualified opinion...

Q: Define GAGAS, and describe how GAGAS differ from GAAS.

Define GAGAS, and describe how GAGAS differ from GAAS.

Q: What are the major types of auditor services described in the Government

What are the major types of auditor services described in the Government Accountability Office’s Government Auditing Standards (yellow book), and how do they differ?

Q: The director of a not-for-profit organization was overheard

The director of a not-for-profit organization was overheard saying that government auditing standards (GAGAS) were developed by the federal government to ensure that local governments were spending fe...

Q: The midsize City of Orangeville funds an animal control program intended to

The midsize City of Orangeville funds an animal control program intended to minimize the danger stray dogs pose to people and property. The program is under scrutiny because of current budgetary const...

Q: On the basis of the following data, prepare a statement for

On the basis of the following data, prepare a statement for the Town of Chippewa for the year ended June 30, 2011, showing the total cost of solid waste removal and the cost per ton of residential sol...