What document defines the expected levels of performance for audits of government entities?

The document that defines the expected levels of performance for audits of government entities is Generally Accepted Government Auditing Standards, commonly referred to as GAGAS. GAGAS provides a framework for conducting government audits, ensuring transparency and accountability in the use of public funds. It outlines the principles and standards that auditors must follow, addressing matters such as audit independence, professional judgment, and the quality of audit work.

GAGAS is essential because it sets forth criteria that auditors must comply with to provide a consistent and high level of audit quality across government entities. This is crucial in establishing trust in the findings and recommendations of audits, which in turn helps to uphold the integrity of public financial reporting and accountability.

Other documents, like the General Purpose Government Standards, while relevant, do not specifically serve the same comprehensive role as GAGAS in defining audit performance standards for government entities. Similarly, while the Governmental Accounting Standards Board (GASB) provides guidance on accounting practices, it does not dictate the performance criteria for audits. The Federal Audit Clearinghouse Standards primarily facilitate the collection, management, and reporting of audit reports, but again, they do not establish the performance standards that GAGAS does. Thus, GAGAS stands as the definitive source for audit performance