Audit Standards And Report Elements

Audit Review Checklist -- Section AAudit Standards And Report ElementsName of Agency ______________________________________________Audit Period 1. Determine the applicable audit standards for the type of agency and nature of funding:Type Characteristics of the agency Applicable Audit Standardsq 1 Non-Profit Organization which Generally Accepted Auditing Standardsexpended more than $300,000 in federal (gaas)financial assistance Government Auditing Standards (GAS)OMB Circular A-133 (A-133)Provider Agency Audit Guide (PAAG)q 2 Non-Profit Organization, Tribe, orLocal Government which expended less (gaas)than $300,000 in federal financialassistance or For Profit Organizationq 3 Local Government or Tribe which Generally Accepted Auditing Standardsexpended more than $300,000 in federal (gaas)financial assistance Government Auditing Standards (GAS)OMB Circular A-133 (A-133)State Single Audit Guidelines (SSAG)2. Determine whether the audit materials are complete:Report elements to be sent to funding agency (and Type 1 Type 2 Type 3source of requirement for this element): q q q1. Opinion on the financial statements (gaas) 2. Financial statements and notes thereto (gaas) 3. Schedule of expenditures of federal awards (A-133) 4. Report on compliance and internal control over financial reporting based on an audit of financialstatements performed in accordance with GovernmentAuditing Standards (GAS)5. Report on compliance with ...