The city of Lydell expended federal awards from the following programs during 2019. Assume the auditor has

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The city of Lydell expended federal awards from the following programs during 2019.
The city of Lydell expended federal awards from the following

Assume the auditor has given an unqualified opinion on the financial statements and reports no material weaknesses or reportable conditions in internal control at the financial statement level. Also, assume the auditor has given an unqualified opinion on the schedule of expenditures of federal awards. Programs 4, 5, and 6 are classified as low risk, and Program 2 was assessed as high risk.
Required
1. Which programs should the auditor audit as major programs for the purpose of internal control evaluation and compliance testing for the year 2019?
2. Are there any nonmajor programs the auditor should audit?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Related Book For  answer-question

Advanced Accounting

ISBN: 978-1305084858

12th edition

Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng

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