Questions from Auditing and Assurance

Q: Contrast the requirements of an audit in accordance with Generally Accepted Government

Contrast the requirements of an audit in accordance with Generally Accepted Government Auditing Standards with the requirements of an audit in accordance with generally accepted auditing standards.

Q: Explain why compliance with laws and regulations is so important in the

Explain why compliance with laws and regulations is so important in the audit of governmental organizations.

Q: Prepare an example of lapping of cash receipts, showing actual transactions

Prepare an example of lapping of cash receipts, showing actual transactions and the cash receipts journal entries.

Q: What is the purpose of the Single Audit Act?

What is the purpose of the Single Audit Act?

Q: When is an organization required to have an audit in accordance with

When is an organization required to have an audit in accordance with the Single Audit Act?

Q: Nearly every large corporation now maintains an internal auditing department, but

Nearly every large corporation now maintains an internal auditing department, but 50 years ago relatively few companies carried on a formal program of internal auditing. What have been the principal f...

Q: Explain how major federal assistance programs are identified.

Explain how major federal assistance programs are identified.

Q: Describe what is meant by a questioned cost.

Describe what is meant by a questioned cost.

Q: Distinguish between a subrecipient and a primary recipient. Provide an example

Distinguish between a subrecipient and a primary recipient. Provide an example of each.

Q: Identify the 12 requirements that may be applicable to federal financial assistance

Identify the 12 requirements that may be applicable to federal financial assistance programs.