Using the CAFR you obtained for Exercise 1-1, answer the following questions:

  a. Auditors. Was this CAFR audited by external certified public accountants (CPAs) or by state or local governmental auditors?

  b. Audit Opinion. What type of opinion did this entity receive? If it was qual ified, what reason was given? Was an opinion expressed on the supple mentary information as well as the basic financial statements?

  c. Auditing Standards. Did the auditor use generally accepted auditing stan dards (GAAS), generally accepted government auditing standards (GAS or GAGAS), or both?  

  d. Paragraphs. How many paragraphs are there in the auditor's report? Can you identify the introductory, scope, opinion, and any explanatory paragraphs?

  e. Single Audit. Can you tell whether this entity was required to have a single audit? If so, are the required single audit reports contained within the cover of the CAFR that you are examining? If the entity does receive federal financial assistance but you see no mention of the single audit in the auditor's report, where do you expect that single audit report to be?