- 1 Marks
Question
Which ONE of the following does NOT affect public sector audit?
- A. Financial regulation
- B. The 1999 Constitution of the Federal Republic of Nigeria (as amended)
- C. Statement of Accounting Standard
- D. Treasury and circular letters
- E. Finance Act
Answer
C
Explanation: The answer is C. Statement of Accounting Standard. Public sector audits are generally governed by specific government regulations, constitutions, financial acts, and circulars. Statements of Accounting Standards (SAS) apply mainly to private sector financial reporting and do not directly influence public sector audits.
- Topic: Public sector audit
- Series: NOV 2011
- Uploader: Dotse