Question: What is the difference between financial statement and compliance audit
What is the difference between financial statement and compliance audit work? Why do government units and other entities need compliance audits?
Answer to relevant QuestionsWhat is the benefit of the Single Audit Act?Under what circumstances do attest reports have limited distribution?Why is auditing described as a systematic process?In a CPA firm, the work of each person is reviewed by his or her supervisor. What is the purpose of having the work of each person reviewed by a professional with more experience?What audit results cause a preliminary conclusion that internal control over financial reporting is effective?
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