Audit itself is kind of a crapshow for me, I'm not good at rote memorization and find myself having to reason my way through this and some of it is sticking. However, governmental audit is mad confusing right now.
Am I understanding these reports right?
-FS opinion report
-Internal Control over FR report- no opinion
-Internal Control over compliance report. Becker MC says this report will have a disclaimer of opinion on internal control over compliance… but then the compliance report(below) does have an opinion??
-Compliance report- is this a type of performance report or is it the same as the internal control over compliance report. The becker multiple choice called it “compliance report”. I'm confused which have opinions and which don't. The becker MC says “an objective of a compliance audit of a governmental entity is to form an opinion on whether that govt complied with applicable compliance requirements in all material respects, and then to report at the level specified by the governmental audit requirement”. I'm just not seeing this report in module 7.
And what is yellow book? 🤕
AUD - 83 BEC - NINJA in Training FAR - 89 REG - NINJA in Training
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