Which of the following best describes the relationship between generally accepted auditing standards (GAAS) and generally accepted government auditing standards (GAGAS)?

Question

Quizplus · Accepted Answer

GAGAS incorporates GAAS as a minimum requirement, but also includes additional standards tailored for government audits. Therefore, audits conducted in conformity with GAGAS require the auditor to conform to GAAS as well. Option A is incorrect because both GAAS and GAGAS apply to both independent CPA auditors and government auditors. Option C is incorrect because GAAS do not necessarily require conformity with GAGAS. Option D is incorrect because audits of state and local governments may require the use of both GAAS and GAGAS, but this is not always the case.

Which of the Following Best Describes the Relationship Between Generally