Formula grants — legally mandated funding levels and restrictions on eligible grantees, with little or no discretion being exercised by the grantor.

Project grants — Similar to contracts because grantors agree to pay the grantee for services, performance, or a specific project.

Construction grants — Awarded only for construction of permanent facilities.

All of the above.

None of the above.

An “assignment” may have an extremely short deadline, making it virtually impossible to comply with all appropriate audit standards.

The organization doesn’t follow the audit standards.

Assignments that are strictly tied to compliance with contract terms, regulations, or grant requirements.

The requesting body (legislature, for example) may not want standards to be applied to the assignment.

Developing a budget document that incorporates all agency requests into a government wide request or plan.

Not developing a budget document that incorporates all agency requests into a government wide request or plan.

Assessing the national economy and the impact it will have on finances.

Assessing financial performance — reviewing and analyzing the revenues, expenditures, and cash balances at various times throughout the year.