Distinguish between the internal control evaluation required for MFAPs and for non-MFAPs. What level of internal control evaluation is required if a government has no MFAPs?
Answer to relevant QuestionsDifferent sets of accounting and reporting concepts, principles, and standards have evolved for state and local governments, nonprofit organizations, and business enterprises. Given the differences between and among them, ...Funds used in state and local government accounting and financial reporting are classified into three categories: (1) Governmental funds, (2) Proprietary funds, (3) Fiduciary funds. What measurement focus is used for each of ...Distinguish the compliance audit requirements for MFAPs from those for non-MFAPs. What requirements apply if there are no MFAPs?Place the letter of the terms at the right to the left of the numbered terms at the left. The same term at the right may be a proper match in more than one instance, and one or more of the terms may have an appropriate ...A recent single audit report for the County of Alameda, California, contains the following: “I. Summary of Auditor’s Results.” Based on the content of this chapter, information contained in the AICPA Website ...
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