A public accounting firm has been engaged to perform the audit of a local, federally funded Housing
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A public accounting firm has been engaged to perform the audit of a local, federally funded Housing Allowance Program. The objective of the program is to increase the housing standards of Agana County through subsidized rent payments. The program, however, has been criticized by local authorities for failing to achieve significant results during its two years of existence. You have been assigned to plan an audit.
Required:
1. What matters should you take into consideration when planning the Housing Allowance engagement?
2. Apply the scientific method of inquiry (Chapter 1) to the engagement, giving examples of procedures and measurement criteria the firm should deem appropriate.
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