P20-4 (Major Program Determination) A government receives and expends funds under several federal programs during 20X7. The programs and amounts expended follow: Program A Program B Program C Program D Program E Program F Program G Program H Program I Program J $ 190,000 $ 800,000 $1,000,000 $ 250,000 $ 180,000 $ 775,000 $ 220,000 $150,000 24 30,000 $ 400,000 Programs CandJ have been audited as major programs (with no audit findings) in the past 2 years. Which programs would you treat as major programs in a single audit for 20X7 if the government is not a low-risk auditee? Document the basis for your decision, including any risk assessments that you would conduct. (Indicate programs that you have assessed as high risk-that is, assume that some are high risk and indicate them.)

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Chapter1: Financial Statements And Business Decisions
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P20-4 (Major Program Determination) A government receives and expends funds under several
federal programs during 20X7. The programs and amounts expended follow:
$ 190,000
$ 800,000 >
$1,000,000
$ 250,000
$180,000
Program A
Program B
Program C
Program D
Program E
Program F
Program G
Program H
Program I
Program J
$ 775,000
$ 220,000
$150,000
2$
30,000
$ 400,000
Programs Cand J have been audited as major programs (with no audit findings) in the past 2 years.
Which programs would you treat as major programs in a single audit for 20X7 if the government
is not a low-risk auditee? Document the basis for your decision, including any risk assessments
that you would conduct. (Indicate programs that you have assessed as high risk-that is, assume
that some are high risk and indicate them.)
Transcribed Image Text:P20-4 (Major Program Determination) A government receives and expends funds under several federal programs during 20X7. The programs and amounts expended follow: $ 190,000 $ 800,000 > $1,000,000 $ 250,000 $180,000 Program A Program B Program C Program D Program E Program F Program G Program H Program I Program J $ 775,000 $ 220,000 $150,000 2$ 30,000 $ 400,000 Programs Cand J have been audited as major programs (with no audit findings) in the past 2 years. Which programs would you treat as major programs in a single audit for 20X7 if the government is not a low-risk auditee? Document the basis for your decision, including any risk assessments that you would conduct. (Indicate programs that you have assessed as high risk-that is, assume that some are high risk and indicate them.)
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