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level: Government Accountability Office Rules

Questions and Answers List

level questions: Government Accountability Office Rules

QuestionAnswer
What are the two (2) unique threats to independence under this rule?1. Bias - The threat that an auditor will, as a result of political, ideological, social, or other convictions, take a position that is not objective 2. Structural - The threat that an AO's (Auditor Office) placement within a government entity, in combination with the structure of the entity being audited, will impact the AO's ability to perform work and report results objectively
How is a structural threat reduced to an acceptable level? *three (3) ways*1. At a level of government other than the one of which the audited entity is a part, i.e., federal auditors may be auditing a state government program, or state auditors may be auditing a county government program 2. If the head of an AO meets any of the following criteria: - Directly elected by voters of the jurisdiction being audited - Elected or appointed by a legislative body, subject to removal by a legislative body - Appointed by someone other than a legislative body, so long as the appointment is confirmed by a legislative body and removal from the position is subject to oversight or approval by a legislative body - Appointed by, accountable to, reports to, and can only be removed by a statutorily created governing body, the majority of whose members are independently elected 3. Appointed by, accountable to, reports to, and can only be removed by a statutorily created governing body, the majority of whose members are independently elected
Continuing Professional Education (CPE), how many hours are needed?Should complete at least 80 hours of CPE in every two-year period: 1. 24 hours of subject matter directly related to the government environment, government auditing, or the unique environment in which the audited entity operates; and 2. 56 hours of subject matter that directly enhances auditors’ professional expertise to conduct engagements.