In auditing a not-for-profit entity that receives governmental financial assistance, the auditor has a responsibility...
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Accounting
In auditing a not-for-profit entity that receives governmental financial assistance, the auditor has a responsibility to:
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Issue a separate report that describes the expected benefits and related costs of the auditor's suggested changes to the entity's internal control.
Assess whether management has identified laws and regulations that have a direct and material effect on the entity's financial statements.
Notify the governmental agency providing the financial assistance that the audit is not designed to provide any assurance of detecting errors and fraud.
Render an opinion concerning the entity's continued eligibility for the governmental financial assistance.
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