The GAO Standards of Reporting for Governmental Financial Audits Incorporate

question 23

Multiple Choice

The GAO standards of reporting for governmental financial audits incorporate the AICPA standards of reporting and prescribe supplemental standards to satisfy the unique needs of governmental audits. Which of the following is a supplemental reporting standard for audits in accordance with Government Auditing Standards?

• A) A report on the entity's internal control.
• B) Material indications of illegal acts should be reported in a document with distribution restricted to senior officials of the entity audited.
• C) Instances of abuse, fraud, mismanagement, and waste should be reported to the organization with legal oversight authority over the entity audited.
• D) All privileged and confidential information discovered should be reported to the senior officials of the organization that arranged for the audit.

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Definitions:

National Workshops

An employment and vocational training program established in France during the 1848 Revolution as a response to unemployment.

Central Paris

Refers to the central part of Paris, the capital city of France, which includes many of the city's most famous landmarks and districts.

Bureaucratic Spying

The act of surveillance within or by governmental or organizational structures, often to control or gather information on citizens or employees.

Political Opposition

Refers to individuals or groups that contest or oppose the policies, practices, or power of the governing bodies or ruling parties.