The U.S.Office of Management and Budget issues generally accepted auditing standards which provide general guidelines for governmental audits and address the minimum responsibilities of the auditor.

Question

Quizplus · Accepted Answer

The U.S. Office of Management and Budget (OMB) does not issue generally accepted auditing standards; these are issued by the American Institute of Certified Public Accountants (AICPA) and the Government Accountability Office (GAO) for governmental audits.

The USOffice of Management and Budget Issues Generally Accepted Auditing Standards