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:

Competency And Knowledge

Refers to the possession of the required skills, abilities, and information necessary to perform a task effectively.

Healthcare Information

Data related to the health status of a person or the health care services provided to a person.

Government Regulations

Laws and rules established by the government designed to control and guide the activities of businesses, individuals, and other organizations.

HIPAA

The Health Insurance Portability and Accountability Act, a U.S. law designed to protect patient health information privacy and security.