Auditing State and Local Governments

Government entities present significant auditing challenges, since they may operate a multitude of funds, deal with grant funding, and account for significant infrastructure assets. In the Auditing State and Local Governments course, we examine how the auditor can navigate these challenges by delving into government controls and using targeted audit procedures. Particular attention is paid to component units, fund classifications, interfund activity, and the government budget.
Format

PDF Course

Level

Overview

Duration

3 Hours

Related Courses
Governmental Acctg

Course Information

Author: Steven Bragg
Course Number: AU1038

Learning Objectives
  • Recognize why an audit strategy is needed, and what it controls.
  • Identify the issues associated with the environment in which a government operates.
  • Specify the risk assessment steps associated with the audit of a government entity.
  • Recognize when a government’s internal audit function can be used by the auditor.
  • Identify the budget controls that a government entity might use.
  • Specify the controls that a government entity might use over financial reporting.
  • Recognize when a misstatement is considered to be material.
  • Identify the actions that can be taken to reduce detection risk.
  • Specify the events or conditions that indicate the presence of a risk of material misstatement.
  • Identify the areas in which an auditor may choose to hire a specialist when auditing a government entity.
  • Specify who is responsible for fraud prevention and detection.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Auditing
Prerequisites: None
Advance Preparation: None
Latest Review Date: December 2024
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

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The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

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