Government Auditing Standards,published in a Document Called the Yellow Book,incorporate

question 112

Multiple Choice

Government Auditing Standards,published in a document called the Yellow Book,incorporate the AICPA standards and provide extensions that are necessary due to the unique nature of public entities. Which of the following is not one of the extensions?

• A) Higher materiality thresholds than in the private sector.
• B) Public availability of audit reports.
• C) Written evaluation of internal controls.
• D) Requirement that auditors have knowledge of government accounting and auditing.

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Definitions:

Federal Government

The national government of a federated state, which holds the authority over the political system's broad functions.

Whigs and Democrats

Two major political parties in the United States during the 19th century, with the Whigs supporting modernization and federal government power and the Democrats often advocating for states’ rights and rural interests.

Constituencies

The body of voters or residents in a specified area who elect a representative to a legislative or other public office.