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We do not solicit donations in locations where we have not received written confirmation of compliance.

We do not try and get donations in certain locations.

We get donations anywhere we want to.

They are therefore accounted for as a custodial activity of the collecting entity and recognized as a nonexchange revenue in the Government-wide consolidated financial statements.

Financial statements are consolidated for the whole government.

Financial statements are not consolidated for the whole government.

(Kohler's Dictionary for Accountants) HUMAN CAPITAL -Expenses incurred for education and training programs financed by the Federal Government for the benefit of the public and designed to increase or maintain national economic productive capacity.

The Federal Government educated the public for their benefit.

Education and training programs are not financed by the Federal Government.

Waters said she'd like to get an appropriation from the state legislature to help Legal Services in Alabama, but she realizes that is unlikely, given the state of the economy.

Waters said she'd like to get an appropriation from the state legislature.

Waters said she'd like to get an appropriation from the federal government.

SOCIAL INSURANCE PROGRAMS - Income transfer programs financed by compulsory earmarked taxes and also, in certain cases, general revenues of the federal government.

Social Insurance Programs receive funding from specifically designated taxes and sometimes also from the federal government's revenue.

Social insurance programs are primarily funded by private donors.

They noted that the funding must be reliable so that the organization could plan, budget, and remain consistent in its activities.

They needed the funding to be reliable so they could plan consistent activities.

It didn't matter to them if the funding was reliable or if it wasn't reliable.

For instance, the President's proposal permits the Secretary to allocate funds as he sees fit, without regard to the original purpose of the appropriations.

Under the suggested rule it will be okay to use these funds for purposes other than they were intended for.

The President proposed the funds be burned on a bonfire each night.

An easy way to do this would be to enforce strict limits on the percentage of voucher tenants allowed in any one building.

There are to be limitations on voucher tenants in the building.

Enforcing strict limits on the building would be difficult.

The collections are dedicated by law to a special fund whose receipts are made available by permanent indefinite appropriation to finance Customs Service operations.

The collections are dedicated by law to a special fund

The collections aren't dedicated by law to a special fund

Centrelink is an agency not individually funded by the Treasury, but rather through business partnership agreements with government departments.

Centrelink is funded through partnership agreements rather than individually by the Treasury.

Centrelink is exclusively funded by the Treasury.

BUDGET AUTHORITY - The authority provided by Federal law to incur financial obligations that will result in immediate or future outlays.

Federal law can incur financial obligations.

Financial obligations do not result in outlays.

TRUST FUNDS - Accounts that are designated by law as trust funds, for receipts earmarked for specific purposes and the associated expenditure of those receipts (OMB, Budget System and Concepts).

They are funds with certain purposes for beneficiaries.

They are anti-trust funds.

It's funded through congressional appropriation.

Congressional appropriation find it.

It receives private donations to fund it.

In general, our grants support technical personnel directed to deliver a statewide technology plan.

The delivering of technology plans statewide is the goal that the grants seek to support.

The grants are for the express purpose of the technology plan and as such personnel aren't allowed to use it.

They are a corporate soft money issue advocacy outfit, as is this [party] program financed by corporate soft money.

This program is financed by corporate soft money.

This program is financed by corporate hard money.

Nevertheless, this approach has proven effective in securing funds year to year.

This approach worked in getting funding.

This approach worked in spending money.

Second, the Slate 60 list does not attempt to weigh the merits of different charities.

There is a list that includes charities.

The merits of each charity are clearly defined in the list.

Grants made to Arkansas and Virginia aided in coordination of case management systems and building systems for statewide client intake.

Grants were made to Arkansas and Virginia to build systems for statewide client intake.

Grants were not used to help build Virginia's statewide client intake system.

uh besides that i i can't imagine what kind of uh uh bureaucracies we'd get into and expense having it be full time oh you're going to go to this camp and you're going to you know like um back in the Depression the CCC the the construction corps that went out and did things that was great it was needed it gave folks some jobs and we got some great public works out of it but

I can't imagine the expense we'd face.

I know there would be no expenses involved.

Donations are accepted in a number of other ways including checks, online payments and credit card donations.

Checks, online payments, and credit card donations are three of the ways donations are accepted.

Donations must be cash only.

She says she'll be looking for contributions that

She mentions she will be collecting contributions.

She says she will not need any contributions.

Further, Her Majesty's Treasury requires disclosure in the notes to the financial statements on a cash basis of all instances of significant irregular expenditures arising from erroneous benefit awards and fraud by claimants.

In the notes, her majesty's treasury requires disclosure.

Irregular expenditures have not arisen from benefit awards.

budget authority and rejected $1.

$1 was rejected.

$1 was accepted.

A small display inside is dedicated to the benefactor.

There is a small display inside dedicated to their investor.

There is no display dedicated to an investor.

Betting is organized through a centralized tote system.

A centralized system is used to arrange betting.

Betting is not organized using any particular system.

OFFSETTING COLLECTIONS - Collections from the public that result from business-type or marketoriented activities and collections from other Government accounts.

Offsetting collections includes collections from the public and collections from the Government.

Offsetting collections are use by the government to build UFOs.

COHORT -Those direct loans obligated or loan guarantees committed by a program in the same year even if disbursements occur in subsequent years.

Loan guarantees can be committed by programs in different years than the actual disbursement of those loans.

Loans money must be disbursed in the same year that the loan guarantee is authorized.

In applying this requirement, the following factors may influence the auditors' assessment of control

The influence of the following factors is possible.

There is no possibility that the following factors have an influence.

Participants generally agreed that improvements in corporate governance will bring about improvements in auditing.

There will be Improvements in auditing due to better corporate governance.

Improved corporate governance would lead to worse auditing.

Auditors will need to exercise professional judgment in assessing the significance of audit results or findings.

Auditors need to apply their experience in assessing the significance of audit results.

Auditors are not responsible for the assessment of audit results.

This requires determining which laws, regulations, and other compliance requirements are significant to the audit objectives and assessing the risk that significant noncompliance could occur.

We need to assess the risk of people not doing their jobs.

We don't need to assess risk.

Although the Board does not have authority to set audit standards, it established RSSI with the expectation that OMB and GAO will, in collaboration, determine appropriate audit procedures for this information.

RSSI, OMB, and GAO will decide on procedures appropriate for auditing.

The board will choose appropriate auditing procedures.

Auditors also need to consider whether any reliance will be placed on internal controls in designing audit procedures.

Whether any reliance will be placed on internal controls in designing audit procedures, is something that auditors need to consider.

There is no need for auditors to consider whether any reliance will be placed on internal controls in designing audit procedures.

7.11 Auditors should obtain an understanding of the internal control environment, as well as specific internal controls, that are significant to the audit objectives, including internal control over compliance with legal and regulatory requirements, and consider whether the internal controls have been placed in operation.

Auditors should check whether or not internal control is compliant with regulatory requirements.

It's is not necessary for auditors to understand internal controls, but they should be familiar with the law.

Find out how long it took to get approvals from management and the direction management gave to project personnel.

Discover how long it takes to be approved by management and direction management

Don't discover how long approvals from management take

information8 and state that the report is an integral part of the audit and should be considered in assessing the results of the audit.

The report should be considered when assessing the audit.

The report is superfluous and can be ignored when considering the audit.

The nine chapters present audit guidance

Audit guidance is presented in the nine chapters

Audit guidance is presented in the 6 chapters

They also have certain conflicts in connection with their investment banking and brokerage operations that need to be addressed just as independent auditors do in connection with their consulting services.

The investment banking and brokerage operations yield certain conflicts.

They do not have problems with the investment banking portion of their business.

reforming the audit process and auditor reporting is the auditor's fear of legal liability.

Fear of becoming legally liable on the part of the auditor has an effect on the possibility of reforms in the audit process.

Fear of being held legally responsible has had no effect on reforms in the auditor reporting process.

This site provides standards, guidance, and information on internal auditing best practices for its members.

There are many useful tools available to the user on this website.

This site is still under construction and does not have anything on it just yet.

In addition to following up on significant reported findings and recommendations7 from previous financial audits, auditors should consider significant findings identified in attestation engagements, performance audits, or other studies if these findings could materially affect the results of the financial audit.

Auditors should consider significant findings in attestation engagements, performance audits, or other studies in addition to following up on significant reported findings and recommendations from previous financial audits.

If these findings could materially affect the results of the financial audit, auditors should not consider findings identified in attestation engagements.

As discussed in chapter 1, financial audits contribute to making governments more accountable for the use of public resources and the delivery of services.

What financial audits contribute to is discussed in chapter 1.

There is no information regarding financial audits in chapter 1.

Auditors should make arrangements to make audit documentation available, upon request, in a timely manner to other auditors or reviewers.

Auditors should make every effort to make sure that documents can be retrieved by other auditors.

Auditors are not allowed to view or edit other auditor's work.

Auditors should place their findings in proper perspective by providing a description of the objectives, scope, and methodology used to conduct the work.

Auditors should give a description of the objectives of their work.

Auditors should avoid placing their findings in perspective.

it's just the audit department happened to be just a little behind the times because the uh the senior vice president over audits is cheap

The audit department is growing obsolete because the Senior Vice President is too cheap to do them.

The audit department is at the forefront of innovation.

An audit cannot ensure that stock prices will be achieved.

The audit can't make sure stock prices will be achieved

The audit makes sure stock prices are reached

Once an organization has identified its risks related to improper payments and undertaken activities to reduce such risks by upgrading its control activities, monitoring performance allows the organization to gauge how well its efforts are working.

Once an organization identifies risks of improper payments, they should guage how the efforts are working.

They don't have any improper payments.

Inspector General and GAO audit findings reported since July 1999.

An audit took place in 1999.

No audit took place in 1999.

Auditors should obtain an understanding of the program to be audited to help assess, among other matters, the significance of possible audit objectives and the feasibility of achieving them.

Auditors should understand the program well.

Auditors don't need to understand the program well.

Audit Results

Results to be audited.

There is nothing to audit.

Further, the act sets up a series of pilot audits under which certain agencies are required to prepare agencywide financial statements and subject them to audit by the agenciesa inspectors general.

The act sets up a series of pilot audits.

The act does not set up a series of pilot audits.

The amount and kinds of evidence required to support auditors' conclusions should be based on auditors' professional judgment.

The kinds of evidence that support auditors conclusions should be based on their professional judgment.

The kinds of evidence that support auditors conclusions should not be based on their professional judgment.

We strongly disagree with the Vice President's objections to our audit and access authority.

The Vice President came out against the actions we tried to undertake.

The Vice President gave the go-ahead to our audit authority.

An additional reporting standard for financial audits conducted in accordance with GAGAS

There are two or more reporting standards for financial audits conducted in accordance with GAGAS.

There no reports done on the financial audits by anyone.

detecting material misappropriations is an objective of control over safeguarding of assets, understanding this type of control can be essential to planning the audit.

Understanding such controls can be vital when planning an audit.

These controls are of no use or relevance when planning an audit.

summary of the officials' oral comments and provide a copy of the summary to management of the audited entity to verify that the comments are accurately stated.

The comments stated have to be verified.

The accuracy of the comments is never verified.

Different metrics may be useful for an audit, depending on the objectives and status of an acquisition.

The objectives and status of an acquisition help determine metrics for audits.

The same metrics are used for an audit every time.

The Counsel has asserted that section 712(1) limits GAO's audit authority to financial transactions.

The Counsel stated that section 712(1) affected GAO's audit authority.

The Counsel stated that section 712(1) gave GAO audit authority beyond financial transactions.

These unique roles involve sound management practices and professional audits and attestation engagements.

Professional audits one of the things that the unique roles involve.

The roles don't include sound management practice or anything of that nature.

These services generally differ from financial audits, attestation engagements, and performance audits in that auditors may (1) provide information or data to a requesting party without providing verification, analysis, or evaluation of the information or data, and therefore the work does not usually provide a basis for conclusions, recommendations, or opinions on the information or data, or (2) perform tasks requested by management that directly support the entity's operations, such as asset evaluation, actuarial services, or information system design services.

These services usually differ from a wide array of services.

There is only one type of service.

Although not applicable to attestation engagements, the AICPA statements on auditing standards may provide useful guidance related to fraud for auditors performing attestation engagements in accordance with GAGAS.

The AICPA's statements regarding auditing standards may help auditors performing attestation engagements.

The AICPA's statements in regards to auditing standards apply to attestation engagements.

Similarly, the auditor should recommend that the agency take appropriate actions where senior management involvement seems lacking, or where the project organization is unstable and subject to high turnover.

the auditor should recommend that the agency take appropriate actions

the auditor shouldn't recommend that the agency take appropriate actions

Auditors should consider the results of previous audits and attestation engagements and follow up on known significant findings and recommendations that directly relate to the subject matter of the attestation engagement being undertaken.

When a current attestation engagement is underway, an auditor should review the results of previous audits and engagements to reference any significant findings that relate to the current engagement.

Attestation engagements and audits are always unprepared, this is the reason why auditors need to research previous audits.

In planning the engagement, auditors should obtain an understanding of internal control7 as it relates to the subject matter or assertion to which the auditors are attesting.

Auditors get an understanding of internal controls.

Auditors have external controls.

Only 1 percent of returns get audited at all.

99% of returns do not get audited.

10% of returns get audited.

Referencing is a process in which statements of facts, figures, and dates are traced back to the supporting working papers by an experienced auditor who is independent of the audit.

Referencing is tracing back the fact to the original authors.

Referencing is tracing back all the information to the same source.

Approval thresholds, for example, should show which officials have the authority to review and approve acquisitions.

Approval thresholds will let everyone know who is in charge of approvals and reviews of acquisitions.

There is no way for anyone to know who is in charge of reviewing acquisitions.

This chapter prescribes reporting standards and provides guidance to auditors reporting on performance audits in accordance with generally accepted government auditing standards (GAGAS).

GAGAS are generally accepted government auditing standards.

Auditors receive no guidance in their reports on performance audits.

The audit approach described in this guide is intended to result in a risk assessment of an acquisition project at any point in its development.

The audit approach is intended to assess the risk of an acquisition project.

The audit approach is intended to assess the cost of an acquisition project.

Some areas of assessment will require the expertise of auditors with specific technical skills and experience.

Auditors with a particular set of technical skills may be needed for certain assessment portions.

Auditors won't need to have any particular technical expertise for portions of the assessments.

Auditors should communicate information to officials of the audited entity and the individual contracting for the audit services regarding the nature and extent of planned testing and reporting on the subject matter or assertion.

Auditors communicate information to officials of those audited to let them know the extent of the audit.

Auditors do not take the time to talk to those being audited or their officials.

98 Identifying Sources of Audit Evidence

There are different sources of evidence for audits.

99 Different sources of Audit Information

When auditors conclude significant abuse has or is likely to have occurred, they should also include

Auditors conclude abuse has or is likely to occur

Auditors can't read abuse

Auditors General in their countries, and many more have served as Deputies or in other highlevel posts.

Many have served at the deputy level or higher.

Very few serve as deputy or higher in their countries.

Considering the Results of Previous Audits

Analysing the Results of Previous Audits

Analysing the Results of Previous Couples

Understanding the controls relevant to compliance with those laws and regulations that the auditors have determined are significant can help auditors assess the risk of illegal acts.

Knowing the process relevant to compliance with laws can help auditors know the risk of illegal movements.

The controls are not much help.

In addition, the annual report is to include (1) an independent financial audit, (2) applicable financial and performance requirements under the Chief Financial Officers Act and the Results Act, (3) the results achieved by the Office relative to its goals, (4) an evaluation of the Chief Operating Officer's performance, (5) recommendations for legislative and regulatory changes to improve service and program integrity, and (6) other information as detailed by the Director of the Office of Management and Budget.

The annual report includes an independent financial audit.

The annual report does not include an independent financial audit.

Auditors may also determine the validity and reliability of computer-processed data by direct tests of the data.

Auditors can determine if something is valid and reliable using direct tests.

Auditors can determine if something is valid and reliable using indirect tests.

When an audit is terminated before it is completed, auditors should communicate that fact to management of the audited entity, the entity requesting the audit, and other appropriate officials, preferably in writing.

If an audit is terminated before it is completed, auditors should communicate that fact.

Auditors should never communicate the fact to management of the audited entity.

As expected, CAGE and AUDIT performed best within the spectrum of alcohol use they were developed to explore.

CAGE and AUDIT did best when they were created to explore.

CAGE and AUDIT performed poorly when developed to explore.

Chapter 4 25 Audit Objectives 26 Needs / Documentation Required 26

Documentation is needed for Audit Objectives.

Chapter 4 has nothing to do with audits.

Though an in-depth discussion of quality-assurance practices to be used in electronic testing and analyses is beyond the scope of this guidance, it is important to perform appropriate checks to ensure that you have obtained the correct file.

Certain checks are vital to insure you have obtained the correct file.

There are no quality-assurance practices associated with obtaining files.

WHO developed the AUDIT (Alcohol Use Disorder Identification Test) in 1992 as a brief screening tool to detect at-risk drinking in addition to alcohol abuse and dependence.

The AUDIT system was developed by the World Health Organisation in 1992.

The AUDIT system was designed by the FBI in 1995.

In an attestation engagement, auditors issue an examination, a review, or an agreed-upon procedures report on subject matter, or on an assertion about the subject matter, that is the responsibility of another party.

One of the things auditors issue in an attestation engagement is a procedures report.

Auditors tend not to get involved in attestation engagements.

The audit team should include persons sufficiently knowledgeable about the information technology being purchased to judge how well the agency has defined its requirements in the RFP.

People who are knowledgeable about the information technology being purchased should be included in the audit team.

Knowledge about information technology is not important for the audit team.

This awareness can also help auditors judge whether possible findings could be significant to various possible users.

Auditors can judge if findings might be significant for users.

Auditors see no benefit in looking at the findings.

Reports by GAO or other auditing institutions can provide valuable background information.

Reports from GAP and other auditing institutions can give valuable information.

Reports from GAP and other auditing institutions cannot give valuable information.

If the auditor chooses to apply or use standards or methodologies developed by other professional organizations when performing work under GAGAS, the auditor should also apply the standards in this chapter as appropriate.

In addition to external standards, auditors must make sure to use standards from this chapter.

If other standards are used, auditors need not use the standards in this chapter.

REPORTING STANDARDS FOR PERFORMANCE AUDITS

REPORTING STANDARDS FOR AUDITS OF PERFORMANCE.

REPORTING STANDARDS NOT FOR AUDITS OF PERFORMANCE.

Auditors without sufficient knowledge to perform the functions listed above may have to engage a consultant for quality control purposes for the areas related to the specialist's work.

Specialists are sometimes consulted in audits.

Auditors are cross-trained in all related fields.

1.15 Given the importance and complexity of government programs in providing a variety of public services, auditors are increasingly being called on by legislative bodies and government agencies to expand the variety of performance audits to include work that has a prospective focus or provides guidance, best practice information, or information on issues that affect multiple programs or entities already studied or under study by an audit organization.

There is a growing demand for auditors to do more performance audits that provide guidance and best practice.

Government programs are not important because they provide a narrow range of services.

Each chapter lists audit objectives, commonly expected documentation, detailed audit questions, and references to federal regulations and guidance.

The book contains comprehensive information on these types of audits.

The book only lists a few phone numbers you can call and nothing else.

Thus, whereas AICPA standards cite two main purposes of audit documentation--providing the principal support for the audit report and aiding auditors in performing and supervising the audit--audit documentation serves an additional purpose in audits performed in accordance with GAGAS.

When audit documentation is done in accordance with GAGAS, it has three purposes.

Audit documentation under AICPA standards has just one purpose.

The audit steps and questions provided are directed toward assessing whether an agency has sufficiently addressed critical factors, including support from managers and users, adequate project staff, and controls over the acquisition's scope before and after a contract is awarded.

The audit steps that are provided are directed towards assessing if an agency addressed the critical factors.

The audit steps that are provided are directed towards assessing if an agency addressed the inconsequential factors.

If auditors obtain sufficient evidence of the effectiveness of these controls, they can reduce the extent of their tests of compliance.

Auditors have the ability to reduce the extent of their tests of compliance.

Auditors have not the ability to reduce the extent of their tests of compliance.

Although many factors contribute to these weaknesses, audits by GAO and Inspectors General have found that an underlying cause is poor security program management.

Poor security and program management are the biggest factors in the weaknesses.

Security and program management were found to be the strongest sectors with no problems during the audit.

An expectation gap between what an audit is and is not continues to exist, especially with regard to the auditor's responsibility for detecting fraud.

There is a gap between expectation and reality.

The audit has no issues of uncertainty.

The auditors' assessment of risk includes consideration of whether the entity has controls that are effective in preventing or detecting noncompliance.

The auditor's assessment explains the controls that are effective in dealing with noncompliance.

The auditor never completed their assessment regarding controls and noncompliance.

8.52 The fourth reporting standard for performance audits

There are several standards for reporting performance audits.

There are two standards for reporting performance audits.

Auditors should report the scope of their testing of compliance with laws and regulations and of internal control over financial reporting, including whether or not the tests they performed provided sufficient evidence to support an opinion on compliance with laws and regulations or internal control over financial reporting and whether the auditors are providing such opinions.

There might not be sufficient evidence for an opinion on compliance.

Auditors can neglect reporting the scope of their testing of compliance with laws.