Matt Gunlock, CPA, is performing an audit of the City of Ryan in accordance with AICPA generally accepted auditing standards. Required: a. Must Matt be concerned with the city’s compliance with laws and regulations? Explain. b. How should Matt decide on the nature and extent of the tests of compliance that should be performed in the audit?
Matt Gunlock, CPA, is performing an audit of the City of Ryan in accordance with AICPA generally accepted auditing standards. Required: a. Must Matt be concerned with the city’s compliance with laws and regulations? Explain. b. How should Matt decide on the nature and extent of the tests of compliance that should be performed in the audit?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Matt Gunlock, CPA, is performing an audit of the City of Ryan in accordance with AICPA generally accepted auditing standards.
Required:
a. Must Matt be concerned with the city’s compliance with laws and regulations? Explain.
b. How should Matt decide on the nature and extent of the tests of compliance that should be performed in the audit?
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