Are State agencies ever audited by private auditing firms?
A private firm could audit a State agency if it were partnering with a private entity or other governmental entity that used a private audit firm. In addition, some State entities, the Lottery and Department of Insurance Conservation and Liquidation Division for instance, are routinely subject to CPA firm audits. • Normally how long does the revolving fund deficiency claim take to process? The process itself can be relatively short and sweet. However, it may seem like it takes forever because of the time it takes to get the claim in the right hands, and then having those right hands have time to devote to processing the claim. • When it comes to an audit what are you looking for in general? Every audit has a different goal. A financial statement audit is looking to verify that the amounts reported on Revenue/Expenditure reports and Balance Sheets accurately reflect the entitys financial position as of a certain date for a certain period. A performance audit is to verify that a program
