Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know
Remaining cards (0)
Know
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

MSB AC 330 XM2

MSB GovNFP Unit 10

QuestionAnswer
Name the three types of financial audits in order of complexity. GAAS, GAGAS, single audit
How many standards of reporting are in a GAAS type audit? 4
Name the paragraphs included in a GAAS audit opinion. introductory, scope, opinion, explanatory
Name the types of opinion an auditor may express. unqualified, qualified or adverse
What is an engagement letter? A written memorandum specifying the scope of the work to be done by the auditor.
What does GAGAS stand for? generally accepted government auditing standards
When was the single audit enacted? 1984
A single audit is done for which entities? Those entities received federal grant monies either directly or as a pass-through from another entity.
What is the main criteria of whether an entity will receive a single audit? Whether or not they have expended $500,000 in federal grant money during the year.
What reports are required for a single audit? Finanacial statement and schedule of expenditures of federal awards, summary schedule of prior audit findings, auditors' reports, corrective action plan
What are the three types of GAGAS audits or engagements? Financial audits, attestation engagements, performance audits
Created by: margaret.miller
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards