Government Auditing Standards do not apply to audits conducted to satisfy the requirements of the Single Audit Act as well as other governmental audits

Question

Quizplus · Accepted Answer

Financial audits of state and local governments and not-for-profit organizations must comply with the AICPA's generally accepted auditing standards for fieldwork and reporting as well as Government Auditing Standards. The Government Auditing Standards are issued by the U.S. Government Accountability Office GAO and apply to audits conducted to satisfy the requirement of the Single Audit Act as well as other governmental audits.

Government Auditing Standards Do Not Apply to Audits Conducted to Satisfy