Typical objectives of a performance audit include:
A) Determining whether financial statements fairly present the entity's operational results.
B) Judging the appropriateness of an entity's program goals.
C) Determining whether financial statements fairly present in conformity with GAAP.
D) Assessing effectiveness and results, economy and efficiency, and internal controls.

Question

Quizplus · Accepted Answer

The typical objectives of a performance audit include assessing effectiveness and results, economy and efficiency, and internal controls. Choices A and C relate to financial statement audits, while choice B refers to program evaluation, which is not necessarily a focus of a performance audit.

Typical Objectives of a Performance Audit Include