Generally accepted government auditing standards (GAGAS):
A) Establish the same scope as GAAS, but use wording appropriate to government entities instead of business organizations.
B) Are set forth in the Federal Government Compliance Supplement.
C) Establish more standards that are broader in scope than those found in GAAS.
D) Establish standard wording of auditor's reports on government financial statements.

Question

Quizplus · Accepted Answer

Generally accepted government auditing standards (GAGAS), also known as the Yellow Book, do establish more standards that are broader in scope than those found in GAAS. GAGAS covers audits of government organizations, programs, activities, and functions, including audits of government entities that receive federal financial assistance.

Generally Accepted Government Auditing Standards (GAGAS)