Government Auditing Standards,published in a document called the Yellow Book incorporate the AICPA standards and provide extensions that are necessary due to the unique nature of public entities.Which of the following is not one of the extensions?
A) Requirement that auditors have knowledge of government accounting and auditing
B) Higher materiality thresholds than in the private sector
C) Public availability of audit reports
D) Written evaluation of internal controls

Question

Quizplus · Accepted Answer

The extension regarding higher materiality thresholds is not true for government auditing standards. In fact, the materiality thresholds are often lower in the government sector due to the potential impact on public funds and accountability. The other choices are all extensions that are unique to government auditing standards.

Government Auditing Standards,published in a Document Called the Yellow Book