Auditing standards (51 - 60 of 923 items)
International Peer Review of the Performance Audit Practice of the United States Government Accountability Office
A85708: May 30, 2008
An international peer review team with representatives from the supreme audit institutions of Canada, Australia, the Netherlands, and the United Kingdom reviewed the quality assurance system that GAO has established for managing its performance audit practice. GAO's quality assurance system encompasses its organizational structure and the policies and procedures established to provide it with reas...
Internal Control: Improvements Needed in SEC's Accounting and Financial Reporting Process
GAO-08-461R: Published: Apr 1, 2008. Publicly Released: Apr 1, 2008.
On November 16, 2007, we issued our report on the U.S. Securities and Exchange Commission's (SEC) fiscal years 2007 and 2006 financial statements and on SEC's internal control as of September 30, 2007. We also reported on the results of our tests of SEC's compliance with selected provisions of laws and regulations during fiscal year 2007. The purpose of this report is to present areas of SEC's int...
Financial Audit: Special Counsel Expenditures for the Six Months Ended September 30, 2007
GAO-08-541: Published: Mar 31, 2008. Publicly Released: Mar 31, 2008.
This report presents the results of our audit of expenditures reported by the Office of Special Counsel Patrick J. Fitzgerald for the 6 months ended September 30, 2007. The independent counsels were required under 28 U.S.C. 596 (c)(1) to prepare a statement of expenditures on a semiannual basis. Under 28 U.S.C. 596 (c)(2 ), we were required to conduct a financial review of a midyear statement and...
Financial Audit: American Battle Monuments Commission's Financial Statements for Fiscal Years 2007 and 2006
GAO-08-326: Published: Feb 29, 2008. Publicly Released: Feb 29, 2008.
In accordance with 36 U.S.C. 2103, GAO is responsible for conducting audits of the agencywide financial statements of the American Battle Monuments Commission (the Commission). GAO audited the financial statements of the Commission for the fiscal years ended September 30, 2007, and 2006. The audits were done to determine whether, in all material respects, (1) the Commission's financial statements...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2007 and 2006 Financial Statements
GAO-08-416: Published: Feb 11, 2008. Publicly Released: Feb 11, 2008.
GAO is required to annually audit the financial statements of the Deposit Insurance Fund (DIF) and FSLIC Resolution Fund (FRF), which are administered by the Federal Deposit Insurance Corporation (FDIC). GAO is responsible for obtaining reasonable assurance about whether FDIC's financial statements for DIF and FRF are presented fairly in all material respects, in conformity with U.S. generally acc...
Understanding Similarities and Differences between Accrual and Cash Deficits: Update for Fiscal Year 2007, an E-supplement to GAO-07-117SP
GAO-08-410SP: Published: Jan 31, 2008. Publicly Released: Jan 31, 2008.
The unified budget deficit--sometimes called the "cash deficit"--and the net operating cost-- sometimes called the "accrual deficit"--are two key measures of the government's annual fiscal position. The cash deficit provides information on the government's current cash flow and borrowing needs. The accrual deficit provides information on the current cost of government-- the amount of resources use...
Audits of Public Companies: Continued Concentration in Audit Market for Large Public Companies Does Not Call for Immediate Action
GAO-08-163: Published: Jan 9, 2008. Publicly Released: Jan 9, 2008.
GAO has prepared this report under the Comptroller General's authority as part of a continued effort to assist Congress in reviewing concentration in the market for public company audits. The small number of large international accounting firms performing audits of almost all large public companies raises interest in potential effects on competition and the choices available to large companies nee...
Audits of Public Companies: Survey of Public Accounting Firms and Public Companies (GAO-08-164SP, January 2008), an E-supplement to GAO-08-163
GAO-08-164SP: Published: Jan 9, 2008. Publicly Released: Jan 9, 2008.
This document presents the results of GAO's survey of accounting firms that perform public company audits and GAO's survey of public companies. The purpose of the accounting firm survey was to obtain firms' views on their plans regarding engagements with public companies, participation in associations, competition, audit costs and quality, and related issues. The firm survey sample included all fi...
Government Auditing Standards: Implementation Tool: Professional Requirements Tool for Use in Implementing Requirements Identified by "Must" and "Should" in the July 2007 Revision of Government Auditing Standards
GAO-08-210G: Published: Dec 31, 2007. Publicly Released: Dec 31, 2007.
This is the Government Auditing Standards Implementation Tool. This document outlines the professional requirements tool for use in implementing requirements identified by "must" and "should" in the July 2007 revision of Government Auditing Standards. This document is supplementary to the July 2007 revision. The Implementation Tool does not apply to the December 2011 revision...
Guidance on Complying with Government Auditing Standards Reporting Requirements for the Report on Internal Control for Audits of Certain Entities Subject to the Requirements of the Sarbanes-Oxley Act of 2002 and Government Auditing Standards
D06245: Dec 20, 2007
In this document, GAO provides guidance on complying with government auditing standards reporting requirements for the report on internal control for audits of certain entities subject to the requirements of the Sarbanes-Oxley Act of 2002 and Government Auditing Standards...