3.4 Auditing Flashcards
1
Q
What are the four waves of the FIAR strategy?
A
 wave one – appropriations received audits
Wave two – statement of budgetary resources audit, and includes fund balance with treasury
Wave three - mission critical asset existence, and completeness audit
Wave four – full financial statements, audit 
2
Q
What are the phases of a governmental audit
A
Plan, review, report 
3
Q
What are the GAO standards? 
A
- auditor independence
- auditor professional judgment
- Auditor competence
- Quality control and assurance 
