Which of the following statements regarding generally accepted government auditing standards (GAGAS)is not true?
A) GAGAS incorporate AICPA auditing standards and specifie additional general,performance,and reporting standards.
B) GAGAS must be used on all audits of governmental entities.
C) GAGAS are issued by the Government Accountability Office.
D) GAGAS cover both financial and performance audits.

Question

Quizplus · Accepted Answer

While GAGAS should be followed on all audits of governmental entities, it is not mandatory that they be used on every audit. The decision to use GAGAS or another set of standards is left to the auditor's professional judgment.

Which of the Following Statements Regarding Generally Accepted Government Auditing