auditors apply certain limited procedures W r i t i n g

Part A:

For each of the following items, indicate whether the standards are GAAS or GAGAS standards, or both, and why.

1. The auditor must identify in the
   auditor’s report those circumstances in which such principles have not
   been consistently observed in the current period in relation to the
   preceding period.
2. The auditor must adequately plan the work and must properly supervise any assistants.
3. Auditors apply certain limited
   procedures in connection with RSI to provide assurance that it is fairly
   presented in relation to the basic financial statements.
4. Pertinent information should be communicated to individuals contracting for or requesting an audit.
5. Known findings and recommendations
   from previous engagements that directly relate to the current audit
   should be considered in planning.
6. When the financial statement audit
   report contains an opinion or a disclaimer of opinion, a report on
   internal control over financial reporting and on compliance with laws,
   regulations, and provisions of current contracts and grants must be
   provided as part of the report or as a separate report.
7. The auditor exercises due professional care in the performance of the audit and preparation of the report.
8. When the audit findings involve
   deficiencies, the elements (criteria, condition, cause and effect) of
   the findings should be developed.

Part B:

1. Discussion
   at a local meeting of the government finance officers centered on using
   a balanced scorecard to present information to the public on the
   government’s website. Describe how the components of a balanced
   scorecard and provide an example of how each component is applicable in a
   governmental setting.
2. Under the
   hierarchy of Generally Accepted Accounting Principles, describe the
   sources of accounting principles that have the most authority for state
   and local governments, federal government entities, and non-government
   entities. Where do accountants and auditors look when a particular item
   is not covered within the hierarchy?

Required:

• Submit your responses to Parts A B in a 4-6-page Microsoft Word document.
• Ensure your responses are well-written.
• Be sure to follow the formatting guidelines outlined in the CSU Global Writing Center (Links to an external site.) .
• Include at least two scholarly references in addition to the course textbook. The CSU Global Library (Links to an external site.) is a good place to find these references.