Begin by identifying the three main types of audits in the table. Then select an X in the box for each item that describes the purpose and nature of each type of audit. (If a box is not used in the table or an item does not apply, leave the box empty. Abbreviations used: CPA = Certified Public Accountant, GAO Auditors = Government Accountability Office Auditor, IRS Auditors = Internal Revenue Service Auditors.) Three main types of audits are Purpose: To determine whether the client is following specific procedures set by a higher authority To determine whether the overall financial statements are presented in accordance with specified criteria (usually GAAP) To evaluate whether operating procedures are efficient and effective Users of audit report: Different groups for different purposes Management of organization Authority setting down procedures, internal or external Nature: Highly nonstandard; often subjective Highly standardized Not standardized, but specific and usually objective Frequency of audits performed by: CPAs GAO auditors IRS auditors Internal auditors Begin by identifying the three main types of audits in the table. Then select an X in the box for each item that describes the purpose and nature of each type of audit. (If a box is not used in the table or an item does not apply, leave the box empty. Abbreviations used: CPA = Certified Public Accountant, GAO Auditors = Government Accountability Office Auditor, IRS Auditors = Internal Revenue Service Auditors.) Three main types of audits are Purpose: To determine whether the client is following specific procedures set by a higher authority To determine whether the overall financial statements are presented in accordance with specified criteria (usually GAAP) To evaluate whether operating procedures are efficient and effective Users of audit report: Different groups for different purposes Management of organization Authority setting down procedures, internal or external Nature: Highly nonstandard; often subjective Highly standardized Not standardized, but specific and usually objective Frequency of audits performed by: CPAs GAO auditors IRS auditors Internal auditors