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Government and Not for profit Accounting – Chapter 16 My Book Details are: To answer these questions, Book Link is below: https://reader.yuzu.com/#/ Login – XXXXXXXXXX XXXXXXXXXXPassword : Newyork2018...

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Government and Not for profit Accounting – Chapter 16
My Book Details are:
To answer these questions, Book Link is below:
https:
eader.yuzu.com/#
Login – XXXXXXXXXX XXXXXXXXXXPassword : Newyork2018
These questions should be based on Government and Not for profit Accounting that’s my subject name.
Need to the Points Answers only : Not One page long one answer.
1. Discuss the need for performance audits (page 718)
2. State the objectives of, and the manner of conducting, performance audits (pages 718 – 726)
3. Describe the approaches auditors take in performing single audits (pages 712 – 716)
Answered Same Day Jul 16, 2020

Solution

Preeta answered on Jul 18 2020
120 Votes
1. Discuss the need for performance audits.
Ans: The performance audit is needed for the following reasons:
· Performance audit actually assess if the government company or the nonprofit organization as the case may be is performing economically as well as performing with its full efficiency.
· It also helps to compare the actual result with the expected result.
· An entity might have different kinds of projects with different objectives, targets and with different employees handling them, performance audit helps to evaluate each of those projects separately.
· Analysis of performance audit takes into account a wide variety of evidences and is not confined only to documental evidences and physical assets, which increases its efficiency and depict true image to the organization.
2. State the objectives and the manner of conducting, performance audits.
Ans: The objective of performance audit is to analyze the performance of individual projects as well as the organization as a whole.
The manner in which...
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