When Auditors Report on a Financial Audit Engagement in Accordance

question 117

Multiple Choice

When auditors report on a financial audit engagement in accordance with generally accepted government auditing standards (GAGAS) ,the basic report(s) include a

• A) Disclaimer of opinion on financial statements, report on internal control, and report on compliance audit regarding laws and regulations.
• B) Report (opinion) on financial statements, report on internal control, and report on compliance audit regarding laws and regulations.
• C) Report on internal control and report(s) on efficiency and effectiveness of operations.
• D) Report on compliance regarding laws and regulations and report(s) on achievement of program goal(s).

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Definitions:

Post-traumatic Stress Disorder

A mental health condition triggered by experiencing or witnessing a traumatic event, characterized by flashbacks, nightmares, severe anxiety, and uncontrollable thoughts about the event.

Extreme Anxiety

A heightened state of unease or worry, often with severe physical and psychological symptoms.

Nightmares

Disturbing dreams that can cause a person to wake up feeling anxious, frightened, or in distress.

Unrealistically Optimistic

The tendency to hold excessively positive expectations for one's self despite evidence to the contrary.