Question

Question 4
Out of the following audit of Government Grants
will be important for audit of
Partnership Firm
Hospital
Hotel
Smal Company
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Answer 1

Explanation:

Among the various options given in question statement, the correct option is the second one.

For government grants especially for hospitals, it is important to audit them. Normally, government grants are given to educational institutions, hospitals and it is necessary to check that the grant has been fully and properly utilised on the given subject. This also ensures that grant has been used without any corruption  or mis use

Answer 2

Government grants audits are important for the audit of an hospital.

• The economic assistance typically offered by the elected government with certain explicit requirements in ample cash or specific kind is the government grants.
• The aim of government auditing is to evaluate the performance of public transparency, which means evaluating the achievement of administrative targets so that government agencies can complete the process of providing people with services.
• The process by which any grant is compensated for is frequently based on the essence of the grant obtained.  
• Direct grants are accepted only when there is reasonable assurance that the specific requirements and the final collection of such grants are amply fulfilled.