Explain why each of the following audits would be classified as (1) financial statement, (2) operational, or

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Explain why each of the following audits would be classified as (1) financial statement, (2) operational, or (3) compliance.

a. Audit of the contract costs of building jet fighter planes.

b. Audit by internal auditors of the efficiency of purchasing operations.

c. Audit by a CPA firm of whether a state government agency operated in accordance with its contract with the federal government.

d. Audit of a tax return by an Internal Revenue Service agent.

e. Audit of a company's financial statements by a CPA firm.

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Auditing An Assertions Approach

ISBN: 9780471134213

7th Edition

Authors: G. William Glezen, Donald H. Taylor

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Question Posted: May 07, 2024 02:00 AM

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Explain why each of the following audits would be classified as (1) financial statement, (2) operational, or

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a Audit of the contract costs of building jet fighter planes Classification 2 Operational Audit Explanation This audit focuses on evaluating the effic...View the full answer

Auditing An Assertions Approach

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