Which of the Following Is Not a Required Component of the Audit

question 10

Multiple Choice

Which of the following is not a required component of the audit report for a single audit?

• A) A report on internal control over financial reporting and compliance with federal statutes, regulations, and the terms and conditions of the federal award.
• B) An opinion on the completeness of the schedule of expenditures.
• C) A report on compliance for each major program and on internal control over compliance.
• D) A schedule of findings and questioned costs.

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Definitions:

Efficient Communication

The process of exchanging information in a way that minimizes waste and maximizes clarity and understanding.

Effective Communication

The exchange of information in a manner where the intended message is successfully delivered, received, and understood by all parties involved.

Failure

The condition or fact of not achieving the desired end or ends, such as missing a target or not meeting a standard.

Leadership

The process of inspiring others to work hard to accomplish important tasks.