Question

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

Answer 1

A: No...Yes

Step-by-step 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.