Governmental Entities and Other Recipients of Governmental Financial Assistance,depending Upon

question 42

Essay

Governmental entities and other recipients of governmental financial assistance,depending upon the circumstances,may be subject to an audit in accordance with Generally Accepted Auditing Standards (GAAS audit),Government Auditing Standards (GAS audit)and the Federal Single Audit Act (Single Audit Act audit).Place an X by proper reports issued by auditors for each of these audits on the following: $$\begin{array} { | l | l | l | l | } \hline \text { Reports issued } & \begin{array} { c } \text { GAAS } \\\text { audit }\end{array} & \begin{array} { c } \text { GAS } \\\text { Audit }\end{array} & \begin{array} { c } \text { Single } \\\text { Audit Act } \\\text { Audit }\end{array} \\\hline \text { Opinion on financial statements. } & & \\\hline \text { Report of findings and questioned costs. } & & \\\hline \begin{array} { l } \text { Summary report of audit results relating to financial } \\\text { statements, internal control, and compliance. }\end{array} & & & \\\hline \text { Special release entitlements report. } & & & \\\hline \begin{array} { l } \text { Report on compliance with applicable laws and } \\\text { regulations and internal control. }\end{array} & & & \\\hline \begin{array} { l } \text { Report on the schedule of expenditures of federal } \\\text { funds. }\end{array} & & & \\\hline \text { Report on major foreign transactions. } & & & \\\hline\end{array}$$

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Definitions:

Catalysts

Substances that increase the rate of chemical reactions without being consumed in the process.

Enzymes

Biomolecules that substantially increase the pace of nearly all chemical processes happening within cellular structures.

Concentration

is the measure of the amount of a subcomponent (especially solute) in a solution.

Cyanide Compounds

Toxic chemicals that can inhibit cellular respiration by preventing cells from using oxygen, potentially leading to death.