The GAO Government Auditing Standards Requirements for Written Reports in Financial

question 30

Multiple Choice

The GAO Government Auditing Standards requirements for written reports in financial statement audits do not include

• A)audit report on financial statements.
• B)a report of any significant accomplishments and management improvements.
• C)a report on the auditee's internal control structure and the control risk assessment.
• D)a report on the auditee's compliance with applicable laws and regulations.

---

Definitions:

Forced

Compelled or coerced action or decision, often against one's will.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net identifiable assets, reflecting the company's brand, customer base, and other non-physical assets.

Restriction

A rule or condition that limits or controls someone's actions or a particular activity.

Business Elsewhere

The decision by a customer to take their business to a competitor or alternative provider, usually due to dissatisfaction.