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Posted: 31 Jan 2010 at 21:47 | IP Logged Quote bryris

I don't get it. What is the difference between these?

Also - when is compliance actually opined on as opposed to only a procedures/findings analysis?

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Posted: 01 Feb 2010 at 09:28 | IP Logged Quote WORKnSTUDY

I believe GAS and GAGAS are the same, aka Yellow Book.

I work for a larger city and am looking at our recent audit report.  The financial section talks about GAAS and GAS.  There is a stand alone compliance section and it gives negative assurance on compliance.  It also says providing an opinion on the compliance was not an objective of the audit and accordingly do not express one.  The report was restriced as well.

I think the compliance is closer to a review than an audit.  We have a lot of grants, so I believe this report would be typical of compliance questions on the exam.  Hope that helps... 

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