Question 1 :

North Valley School District's engagement acceptance form references Government Auditing Standards, but the planning checklist copied from last year includes only GAAS and is marked complete. What should staff request before the planning section is reviewed?

A planning note documenting GAGAS applicability based on the engagement terms

A preparer signoff confirming the GAAS checklist was rolled forward correctly

A note deferring GAGAS applicability until fieldwork results are known

A report-stage comment saying GAGAS will be addressed if exceptions arise

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Question 2 :

While reviewing Marlow County's government-wide statement of net position, the staff auditor sees assets, deferred outflows, liabilities, and deferred inflows, but the equity section uses restricted fund balance and unrestricted fund balance captions. What change should be requested?

Use restricted and unrestricted net position captions

Keep fund balance captions if the underlying restrictions are governmental

Move the equity lines to the governmental funds balance sheet

Add a note saying fund balance and net position are interchangeable

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Question 3 :

Building inspection records support a $63,200 favorable variance after fee-funded activity was lower than expected. The explanation agrees to the department revenue and staffing reports. What conclusion can the staff auditor document?

The variance explanation is supported by the attached department records

The favorable variance must remain open until council approval is provided

The variance should be reclassified as an encumbrance control issue

The actual expenditures should be increased to match the final budget

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Question 4 :

September 2025 permit receipt records jump from Receipt - 1846 to Receipt - 1851, and the void log has no entries for the missing pre-numbered forms. Which follow-up is needed?

Request the monthly deposit listing only, because deposit totals address receipt sequence gaps

Request support explaining the missing receipt numbers in the sequence

Remove the receipt sequence from testing because the used forms were deposited

Treat the gap as a posting cutoff issue only if October receipts are missing

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Question 5 :

Brighton Township’s federal grant folder contains complete award documents, current-year expenditure detail, and a draft SEFA line that ties to the GL, but total federal expenditures appear near the applicability level noted by the audit senior. What should staff document?

The SEFA line ties, and the total federal expenditure observation was flagged to the senior

The line-level tie-out is complete, so no separate note is needed about the total federal expenditure level

The total federal expenditure level should be monitored after final SEFA approval instead of included in the current file

The grant support is complete, so staff should document that Single Audit applicability was resolved

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Governmental Audit

North Valley School District's engagement acceptance form references Government Auditing Standards, but the planning checklist copied from last year includes only GAAS and is marked complete. What should staff request before the planning section is reviewed?

MCQ

0

5

While reviewing Marlow County's government-wide statement of net position, the staff auditor sees assets, deferred outflows, liabilities, and deferred inflows, but the equity section uses restricted fund balance and unrestricted fund balance captions. What change should be requested?

MCQ

0

5

Building inspection records support a $63,200 favorable variance after fee-funded activity was lower than expected. The explanation agrees to the department revenue and staffing reports. What conclusion can the staff auditor document?

MCQ

0

5

September 2025 permit receipt records jump from Receipt - 1846 to Receipt - 1851, and the void log has no entries for the missing pre-numbered forms. Which follow-up is needed?

MCQ

0

5

Brighton Township’s federal grant folder contains complete award documents, current-year expenditure detail, and a draft SEFA line that ties to the GL, but total federal expenditures appear near the applicability level noted by the audit senior. What should staff document?

MCQ

0

5