Audits may be classified as (1) financial statement audits, (2) internal audits, (3) compliance audits, and (4) operational audits. The following are a list of items that are related to one of the four types of audits:

1. Ascertaining the fairness of a municipality's financial statements.

2. Monitoring a company's system of internal control.

3. Ascertaining that the provisions of a pension contract are being met by a company.

4. Monitoring a governmental agency's system of internal control.

5. Determining that a company is meeting the regulatory requirements of a government agency.

6. Ascertaining the efficiency of a company's receiving department procedures.

7. Evaluating whether a business enterprise's financial statements fairly present.

8. Ascertaining adherence to prescribed managerial policies of a company.

9. Auditing a filed tax return for agreement with IRS regulations.

10. Determining the effectiveness of a government unit in meeting program objectives.

11. Ascertaining conformity with GAAP.

Required:
Indicate

(a) the type of audit that is involveu and (D) the type of auditors (independent, internal, or governmental) that would make the audit. Use the following format for your answer:

Transcribed Image Text:

Type of Audit Type of Auditor(s)