Unformatted text preview: d. program expense ratio = program expenses/total expenses 90.43% = $204,899,000/ $226,587,000 e. fund-raising efficiency = fund-raising expense/contribution revenue 6.13% = $16,461,000/ $268,412,000 13-9 a. A major program is one that is audited under the single audit approach. A non-major program is one that is considered low r b. A single audit or a program specific audit is required if an organization has $500,000 in federal expenditures. c. opinion on the financial statements evaluation and testing of internal control and compliance with laws and regulations significant deficiencies in internal controls instances of fraud, illegal acts, or other material noncompliance views regarding any significant deficiencies d. To conduct an audit an auditor would need: GASB Codification, local government legislation, state rules and regulations, A I C...
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- Spring '11