GAO Standards Specify That Performance Audit Reports Should Be Timely

question 53

Multiple Choice

GAO standards specify that performance audit reports should be timely and include several items. Which of the following items is NOT required under the GAO standards?

• A) Significant audit findings.
• B) Recommendation as to how to correct problems.
• C) Explanation of the audit's objectives and of its scope and methodology.
• D) Details about the number of items tested and the sampling techniques used.

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Definitions:

Expected Rate

The expected rate often refers to the anticipated return on an investment over a specific period, factoring in all known information and risks.

Standard Deviation

A measure of the dispersion or spread of data points in a data set, indicating how much variation exists from the average.

Standard Deviation

A measure of the dispersion or spread of a set of data points from their mean, indicating the variability within the dataset.

Budget Line

A diagram showing all imaginable combinations of two products that can be bought given a fixed budget at unchanged price points.