Governmental Entities and Other Recipients of Governmental Financial Assistance, Depending

question 40

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 the proper reports issued by auditors for each of these audits on the following: $$\begin{array} { | l | l | l | l } \hline \text { Reports issued } & \text { GAAS } & \text { GAS Audit } & \begin{array} { c } \text { Single } \\\text { AuditAct } \\\text { }\end{array} \\\text { } & \text { Aucit } \\\hline \text { Opinion on financial statements. } & & & \\\hline \text { Report of findings and questioned costs. } & & & \\\hline \begin{array} { l } \text { Summary report of audit results relating to financial } \\\text { statements, internal control, and compliance. }\end{array} & & & \\\hline \text { Special release entitlements report. } & & & \\\hline \begin{array} { l } \text { Report on compliance with applicable laws and } \\\text { regulations and internal control. }\end{array} & & & \\\hline \text { Report on the schedule of expenditures of federal funds. } & & & \\\hline \text { Report on major foreign transactions. } & & & \\\hline\end{array}$$

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Definitions:

Family Members

Individuals connected by blood, marriage, or adoption who typically share a living space and life experiences.

Anonymously

Acting or done without revealing one's identity, often to maintain privacy or avoid recognition.

Formal Assessments

Structured evaluations or tests conducted to measure an individual's abilities, traits, or performance in a standardized manner.

Working Hypotheses

Provisional ideas or assumptions made at the beginning of a research project to guide investigation.