A governmental audit may extend beyond an examination leading to the expression of an opinion on the fairness of financial state

Question

makkiz [27]

3 years ago

9

A governmental audit may extend beyond an examination leading to the expression of an opinion on the fairness of financial state

ment presentation to include

Business

1 answer:

Darina [25.2K] · Answer 1 · 2022-11-27T16:47:04+03:00

Answer:

A governmental audit may extend beyond an examination leading to the expression of an opinion on the fairness of financial statement presentation to include

investigation of the economy, efficiency and effectiveness of operations.

Explanation:

This is known as a value for money audit. It is an independent evidence-based investigation which examines and reports on whether economy, effectiveness, and efficiency have been achieved in the use of governmental funds, which are public funds. This is how many audits for governmental funds are conducted, by expanding the scope to include these three important operational elements.