course: auditing $-1.$ Internal auditing can best be described as:

Multiple Choice

An accounting function.

A compliance function.

An activity primarily to detect fraud.

A control function. $2.$ Operational auditing is primarily oriented toward:

Multiple Choice

Future improvements to accomplish the goals of management.

Ensuring the accuracy of the data in management$$s financial reports.

Determination of the fairness of the entity$$s financial statements.

Compliance with laws and regulations. $3.$ As compared to an audit in accordance with GAAS, an audit in accordance with Generally Accepted Government Auditing Standards requires the auditors to:

Multiple Choice

Use a lower level of materiality.

Perform additional tests of internal control.

Issue an additional report on compliance with laws and regulations and internal control.

Fulfill all of the above requirements $4.$ An important aspect of performing an audit in accordance with the Single Audit Act is to identify:

Multiple Choice

Major federal financial assistance programs.

Government generally accepted assertions.

Federal supplemental requirements.

Title determination sub$-$acts. $6.$ Under the Single Audit Act, the auditor must apply procedures to test for compliance and test the effectiveness of controls for:

Multiple Choice

Major programs and non$-$major programs.

Major programs only.

Non$-$major programs only.

Neither major programs nor non$-$major programs. $7.$ The GAO standards of reporting for governmental financial audits incorporate the AICPA standards of reporting and prescribe supplemental standards to satisfy the unique needs of governmental audits. Which of the following is a supplemental reporting standard for audits in accordance with Government Auditing Standards?

Multiple Choice

Reports on compliance with laws and regulations and internal control.

Material indications of illegal acts should be reported in a document with distribution restricted to senior officials of the entity audited.

Instances of abuse, fraud, mismanagement, and waste should be reported to the organization with legal oversight authority over the entity audited.

All privileged and confidential information discovered should be reported to the senior officials of the organization that arranged for the audit.