4. Two good governance practices for ensuring government accountability to the people are A unilateral decision making and regular publication of Auditor General's Report B. top down decision making and regular publication of Auditor General's Report C. legislation to'gag' the media and regular publication of Auditor General's D. legislation of freedom of information and regular publication of Auditor General Report

4. Two good governance practices for ensuring government accountability to the people are A unilateral decision making and regular publication of Auditor General's Report B. top down decision making and regular publication of Auditor General's Report C. legislation to'gag' the media and regular publication of Auditor General's D. legislation of freedom of information and regular publication of Auditor General Report

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter14: Activities Required In Completing A Quality Audit

Section: Chapter Questions

Problem 23TFQ

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The Sarbanes-Oxley Act (SOX) mandates which of the following? a. Increased regulations related to auditor–client relations. b. Increased regulations related to internal control. c. Increased regulations related to corporate executive accountability. d. All of the above.
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46 Delano Co. is required to file its annual audited financial statements with the Government Accountability Office, and Smith & Olson, CPAs have been hired to perform the engagement. Which of the following nonaudit services provided by Smith & Olson would NOT impair the firm's independence? I. Accepting responsibility for designing, implementing, or maintaining internal control. I. Accepting responsibility for the management of an audited entity's project. III. Directing and accepting responsibility for the actions of the audited entity's employees in the performance of their routine, recurring activities. I. lI. and III 2. I only 3. Il only 4. III only Please donot provide solution in image format and it should be in step by step format and provide solution asap
Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false. 1. GAAP is the term used to indicate the whole body of FASB authoritative literature. 2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. 3. The primary governmental body that has influence over the FASB is the SEC. 4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard.
47-Which of the following are not the rights of the auditors? a) The right to all information and explanations (from management) necessary for the proper conduct of the audit. b) The right to receive notice of all meetings of the directors and to attend those meetings. c) The right to speak at shareholders’ meetings on matters affecting the Management. d) The right to visit the branches of the client and right to access all accounting books and records. e) The right to examine and evaluate financial and information systems, recommending controls to ensure system reliability and data integrity f) The right to review data about material assets, net worth, liabilities, capital stock, surplus, income and expenditures Only d) , e) and f) All a) , b) , c) , d) and e) Only e) and f) None of the options given
1. _____is central to, and an essential part of adequate government financial information. a. Auditing b. Reporting c. Accounting d. Public Financial Legislation 2. Which of the following statement is incorrect: a. Budget is a critical tool for managing government revenue. b. Government budget is a cyclical process. c. Revenue management is important in controlling government revenues d. Budgets are only used for revenue controls 3. All government accounting must abide by International Public Sector Accounting Standards (IPSAS). Select one: True or False 4. Accrual Accounting increase government transparency and accountability. Select one: True or False
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