A CPA Has Conducted an Audit of the Financial Statements

question 29

Multiple Choice

A CPA has conducted an audit of the financial statements of an entity that received federal financial assistance and had one program that qualified as a major program. The CPA's responsibility related to reporting on compliance for this entity is to

• A) Issue a report on compliance related to the entity.
• B) Issue an opinion on compliance related to the entity.
• C) Issue a report on compliance related to the entity and a report on compliance related to the federal program(s).
• D) Issue a report on compliance related to the entity and an opinion on compliance related to the federal program(s).

Understand the concepts and tools of quality management.

Identify different types of control charts and their application.

Recognize the importance and method of sorting issues through Pareto analysis.

Describe the cause-and-effect (Ishikawa) diagram and its application in identifying problem causes.

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Definitions:

Emergency Call

A telephone call made to emergency services, such as police, fire, or ambulance, in a situation that requires immediate attention.

EMS

Emergency Medical Services, a system that provides urgent pre-hospital treatment and stabilization for serious illness and injuries and transport to definitive care.

Caller

An individual who initiates a telephone call or seeks contact with a service or business via phone.

CPR

Cardiopulmonary resuscitation, a lifesaving technique involving chest compressions and artificial ventilation to maintain circulatory flow and oxygenation during cardiac arrest.