Certified Government Auditing Professional (CGAP) Practice Exam

According to GAGAS, what is included in a performance audit objective?

1. An audit subject

2. The performance aspects to be developed

3. Potential findings and elements

4. All of the above

The correct answer is: All of the above

A performance audit objective encompasses a comprehensive range of elements that are essential for conducting a thorough and effective audit. This includes an audit subject, which identifies the specific area or program being evaluated. Additionally, it involves outlining the performance aspects that will be developed throughout the audit. These aspects may relate to efficiency, effectiveness, and economy of the program or service being assessed. Lastly, potential findings and elements are also integral to the objective, as they help define the expected outcomes or insights that the audit seeks to uncover. In sum, the objective of a performance audit is multifaceted and requires a clear articulation of the subject matter, the specific areas of performance under review, and the potential conclusions or findings that may arise from the audit process. This comprehensive approach ensures that the audit is not only aligned with its goals but also provides clear guidance on what will be evaluated and reported. Therefore, including all of these components in the performance audit objective is crucial for achieving a meaningful assessment.