Quality of CPA Audits of Federal Financial Assistance Funds: Hearings Before a Subcommittee of the Committee on Government Operations, House of Representatives, Ninety-ninth Congress, First and Second Sessions, November 13, 1985, and March 19, 1986, Volume 4
United States. Congress. House. Committee on Government Operations. Legislation and National Security Subcommittee
U.S. Government Printing Office, 1986 - Auditing - 274 pages
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accepted accordance action additional agencies AICPA Answer appropriate assistance assure audit guides audit quality audit reports auditing standards audits of Federal basis believe boards of accountancy BRooks Chairman committee compliance compliance with laws concern conducted continuing contract correct CPA firm CPA's deficiencies Department desk review determine developed discuss documentation effective efforts Enforcement evaluation evidence Federal funds findings going Government government auditing governmental audits grant hearing identified IG's implementation important improve inspectors internal controls involved issued laws and regulations letter look managers non-Federal auditors organizations peer review percent performed prepared problems procedures professional public accounting quality control reviews quality review questions reasons received recommendations record referrals regional requirements responsibility RIGs selected share Single Audit Act specific staff statement subcommittee submitted substandard audits taken testing Thank violations
Page 8 - Statement of Frederick D. Wolf, Director Accounting and Financial Management Division Before the Legislation and National Security Subcommittee of the House Committee on Government Operations GAO/T-AFMD-87-7 Mr.
Page 158 - As a general rule, a period of debarment will not exceed three years. In the event debarment is preceded by suspension, consideration shall be given to such period of suspension in determining the period of debarment. Prior to the expiration of the debarment period...
Page 15 - ... take appropriate steps to assure that any work performed by non-Federal auditors complies with the standards established by the Comptroller General as described in paragraph (1).
Page 216 - I would be happy to try to answer any questions that you or members of the Subcommittee may have.
Page 146 - SAS 107 defines audit risk as "the risk that the auditor may unknowingly fail to appropriately modify his or her opinion on financial statements that are materially misstated" and, therefore, the risk that financial statements will include material misstatements.
Page 5 - ... distinguished panel on what is such an absolutely critical problem. I'm going to ask each of you to make your remarks, if you can, in 10 minutes or less. If you're less than 10 minutes, we'll place a higher premium on your words of wisdom. [Laughter.] Mr. Wolf, we re happy to have you start off, sir. STATEMENT OF FREDERICK D. WOLF, DIRECTOR, ACCOUNTING AND FINANCIAL MANAGEMENT DIVISION, US GENERAL ACCOUNTING OFFICE Mr. WOLF. Thank you, Mr. Chairman. We are pleased to appear today to discuss the...
Page 227 - I have a number of other questions which I would like to ask, but I am running out of time.
Page 237 - Welfare, at least one office or division dealing with consumer affairs has been set up in each of the 50 states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands.
Page 26 - The nature, timing, and extent of the procedures to be applied on a particular engagement are a matter of professional judgment to be determined by the auditor, based on the specific circumstances. However, the procedures adopted should be adequate to achieve the auditor's specific objectives and reduce detection risk to a level acceptable to the auditor. The evidential matter obtained should be sufficient for the auditor to form conclusions...