Which organization promulgates the Government Auditing Standards? A. The U. S. Government Accountability Office B. The U. S. Office of Management and Budget C. The American Institute of Certified Public Accountants D. The U. S. Congressional Budget Office E. The U. S. Congress

Question

Social Studies

Salma Morrison

26 May, 09:11

Which organization promulgates the Government Auditing Standards? A. The U. S. Government Accountability Office B. The U. S. Office of Management and Budget C. The American Institute of Certified Public Accountants D. The U. S. Congressional Budget Office E. The U. S. Congress

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Answers (1)

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Dereon Berger · Answer 1

A. The U. S. Government Accountability Office

Explanation:

The main source for the promulgation of the Government Auditing Standards is the Government Accountability Office (GAO). The GAO has a Federal Accounting Standards Advisory Board (FASAB) which is mainly responsible for formulating the standards and then promoting them for federal government agencies. The Government Accounting Standards Board (GASB) is responsible for doing the same at state level with the collaboration of state government.