Tell, CPA, is auditing the financial statements of Youth Services Co. (YSC), a not-for-profit organization, in accordance with GAGAS as promulgated in Government Auditing Standards. Tell's report on YSC's compliance with laws and regulations is required to contain statements of

Positive Assurance ... Negative Assurance

A. No ... Yes

B. Yes ... Yes

C. Yes ... No

D. No ... No

Question

Lola Hartman

Business

20 March, 09:45

Tell, CPA, is auditing the financial statements of Youth Services Co. (YSC), a not-for-profit organization, in accordance with GAGAS as promulgated in Government Auditing Standards. Tell's report on YSC's compliance with laws and regulations is required to contain statements of

Positive Assurance ... Negative Assurance

A. No ... Yes

B. Yes ... Yes

C. Yes ... No

D. No ... No

+2

Answers (1)

Know the Answer?

Mickey · Answer 1

A: No ... Yes

Explanation:

Negative Assurance refers to a representation by the auditor that particular facts are believed to be accurate since there is no evidence to the contrary. This type of audit report is usually resorted to when there is no legal requirement to do otherwise.