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 (0)
Remaining cards (0)
Know (0)
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 SM2 Ch12

MSB GovNFP Unit 10

QuestionAnswer
What is an engagement letter? A letter specifying the scope of the work to be done.
An auditors judgement as to the level at which the quantitative or qualitative effects of misstatements will have a significant impact on users evaluations is? Materiality
What does GAGAS stand for? Generally accepted government auditing standards.
What does GAGAS cover? Reporting on compliance, required communications, internal controls, report requirements, and distribution.
What are the five fundamental ethical principles identified by GAGAS? public interest, integrity, objectivity, proper use of government information, resources, and position and professional behavior
What is the purpose of Single Audit Act Amendement of 1996? To reduce audit burdens on state and local governments, Indian tribes and not for profit organizations
What are the repors in a Single Audit? Financial statements and schedule of expenditures of federal awards, summary schedule of prior audit findings, auditors reports, corrective action plan.
What does audit findings include? A detail on matters such as internal control weaknesses, instances of noncompliance, questioned costs, fraud and illegal acts, material violations of contract and grant agreements and material abuse.
What costs arise from an audit finding that generally relates to noncompliance with a law, regulation, or agreement. Questioned cost
What is Cognizant Agency for Audit Responsibilities? The federal awarding agency that provides the predominant amount of direct funding to a nonfederal entity expending more than 25 million in federal awards, as provided by OMB Circular A-133, unless the OMB designates a different cognizant agency.
What is SOX? Congress's repsonse to corporate accounting scandals of the late 1900's and early 2000.
Created by: diem.huynh
 

 



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