ACC 460 Week 5 DQs

This paperwork of ACC 460 Week 5 DQs consists of:

DQ 1: What is a performance audit? In what significant ways do performance audits differ from financial audits?

DQ 2: How do audits of governmental agencies differ from those of not-for-profit entities? How are these audits different from those of organizations that operate for profit? Who are the stakeholders for the various audits?

DQ 3: What is the Single Audit Act? How has this act influenced auditing of governmental agencies? What types of reports and opinions do the auditors provide?

DQ 4: How has the Sarbanes-Oxley Bill influenced reporting by governmental agencies and not-for-profit organizations?

Does the Public Company Accounting Oversight Board have authority to establish auditing standards for not-for-profits?

What specific steps might governmental agencies or not-for-profits take to comply with the requirements of the Sarbanes-Oxley Bill?