Does the annual financial report contain a single audit section? If not, does the report refer to the existence of a single audit report? If so, does the report include a Schedule of Federal (and State) Financial Assistance? Are all the reports illustrated in this chapter included? Can you identify the major programs, if any?

• 137.With regard to the Government Auditing Standards

1. Differentiate among the different types of professional engagements.
2. Assume you are auditing a city that has a summer youth employment program. List some factors you might investigate in terms of (1) financial statement audits and (2) performance audits.