Which of the following is a governmental audit type that has a primary concern with providing reasonable assurance about whether financial statements are presented fairly?
A) Attestation Engagement.
B) Performance Audit.
C) Financial Audit.
D) Nonaudit services.

Question

Quizplus · Accepted Answer

A financial audit is specifically designed to provide reasonable assurance about whether financial statements are presented fairly in accordance with generally accepted accounting principles (GAAP). Attestation engagements may involve financial information, but may also cover non-financial information, such as compliance with laws and regulations. Performance audits focus on evaluating the effectiveness and efficiency of government programs, while nonaudit services are advisory in nature and do not involve obtaining assurance on financial statements.

Which of the Following Is a Governmental Audit Type That