Multiple choice questions:

1. Each federal financial assistance program has specific compliance requirements. Which of the following is not an example of the general nature of the specific compliance requirements?

a. Eligibility of individuals or groups to participate in the program.

b. Allow-ability of certain types of goods or services that may be acquired.

c. Maximum dollar amounts of expenditures.

d. Matching fund requirements.

2. GAO performance audit standards do NOT include which of the following?

a. The auditor should be independent of the entity being audited.

b. The work should be adequately planned.

c. The auditor should prepare written work papers.

d. The auditor should obtain an understanding of management controls relevant to the audit.

3. GAO standards specify that performance audit reports should be timely and include several items. Which of the following items is NOT required under the GAO standards?

a. Significant audit findings.

b. Recommendation as to how to correct problems.

c. Explanation of the audit's objectives and of its scope and methodology.

d. Details about the number of items tested and the sampling techniques used.

4. If a program to be subjected to a performance audit lacks clearly defined objectives, what can the auditor do?

a. Decline the audit until the entity defines its objectives.

b. Personally discern the objectives based on the auditor’s opinion.

c. Examine the legislation to see if the legislation articulated the goals and objectives of the program.

d. Create a list of goals and objectives.

Answer rating: 100% (QA)

1 c Maximum dollar amounts of expenditures 2 a The auditor ... View the full answer