Certified Government Auditing Professional (CGAP) Practice Exam

Which statement about the IIA's performance standards is not accurate in comparison to GAGAS?

1. Both encourage a statement that the report complies with standards

2. Both advocate for clear and timely audit reports

3. GAGAS requires inclusion of views from responsible officials

4. GAGAS explicitly details report contents regarding management controls

The correct answer is: Both encourage a statement that the report complies with standards

The statement about the comparison between the IIA's performance standards and GAGAS that is not accurate is the one suggesting that both encourage a statement that the report complies with standards. While it is true that both IIA's standards and GAGAS emphasize the importance of adhering to established guidelines for audit practice, the specific requirement for a compliance statement is more explicitly mandated in GAGAS. GAGAS indeed has a strong emphasis on ensuring that the audit report includes a clear statement about compliance with applicable standards. This requirement is intended to enhance transparency and accountability in government auditing, ensuring that stakeholders are aware of the adherence to these standards. In contrast, while IIA's standards encourage adherence to its performance framework, they do not specifically mandate a formal statement regarding compliance in every audit report. This nuanced difference in language and mandate reflects the distinct focus areas of the two standards frameworks. The other statements in the comparison accurately reflect similarities in both standards, such as the advocacy for clear and timely audit reports. GAGAS's requirement for including views from responsible officials and its detailed specifications regarding report contents about management controls further underscore the specific commitments GAGAS makes in fostering accountability and transparency in government auditing practices.