A CPA has conducted an audit of the financial statements of an entity that received federal financial assistance and had one program that qualified as a major program. The CPA's responsibility related to reporting on compliance for this entity is to

Question

Quizplus · Accepted Answer

In conducting an audit of an entity that has received federal financial assistance and has a major program, the CPA's responsibility includes issuing a report on compliance for the entity as a whole and also providing an opinion on compliance specifically related to the federal program(s) identified as major. This dual reporting approach ensures that both the entity's overall compliance and the compliance related to the major federal program are adequately addressed.

A CPA Has Conducted an Audit of the Financial Statements