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Match the Engagement Described to the (A) Type of Audit

Question 80

Question 80

Matching

Match the engagement described to the (A) type of audit and (B) auditor that would most likely perform the engagement. Each engagement will have an answer from List-A and List-B. An answer can be used once, more than once, or not at all.

Premises:

Responses:

Determine if a public school is properly applying their reimbursement for the payment-in-kind program.
List A - Type of Audit:

Financial Statement

Determine the effectiveness of a Department of Defense project.
List A - Type of Audit:

Operational
List B - Type of Auditor:

Evaluate a company's payroll processing for economy of scale.
List A - Type of Audit:

IRS

Determine if the tax return of a multinational corporation is in accordance with the tax code.
List A - Type of Audit:

External

Determine if Medicare reimbursements are in accordance with the Healthcare Financing Administration (HCFA).
List A - Type of Audit:

Compliance

Evaluate financial statements that are to be submitted to a bank.
List A - Type of Audit:

Internal

Evaluate the promptness of materials inspection in a manufacturer's receiving department.
List A - Type of Audit:

Government

Evaluate/determine if bank covenants are being met.
List A - Type of Audit:

Premises:

Determine if a public school is properly applying their reimbursement for the payment-in-kind program.
List A - Type of Audit:

Determine the effectiveness of a Department of Defense project.
List A - Type of Audit:

Evaluate a company's payroll processing for economy of scale.
List A - Type of Audit:

Determine if the tax return of a multinational corporation is in accordance with the tax code.
List A - Type of Audit:

Determine if Medicare reimbursements are in accordance with the Healthcare Financing Administration (HCFA).
List A - Type of Audit:

Evaluate financial statements that are to be submitted to a bank.
List A - Type of Audit:

Evaluate the promptness of materials inspection in a manufacturer's receiving department.
List A - Type of Audit:

Evaluate/determine if bank covenants are being met.
List A - Type of Audit:

Responses:

Financial Statement

Operational
List B - Type of Auditor:

IRS

External

Compliance

Internal

Government

Correct Answer:

Premises:

Responses:

Determine if a public school is properly applying their reimbursement for the payment-in-kind program.
List A - Type of Audit:

Determine the effectiveness of a Department of Defense project.
List A - Type of Audit:

Evaluate a company's payroll processing for economy of scale.
List A - Type of Audit:

Determine if the tax return of a multinational corporation is in accordance with the tax code.
List A - Type of Audit:

Determine if Medicare reimbursements are in accordance with the Healthcare Financing Administration (HCFA).
List A - Type of Audit:

Evaluate financial statements that are to be submitted to a bank.
List A - Type of Audit:

Evaluate the promptness of materials inspection in a manufacturer's receiving department.
List A - Type of Audit:

Evaluate/determine if bank covenants are being met.
List A - Type of Audit:

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