Deliverable Length: 3 to 4 paragraphs.
Details: The municipal village or a non-profit organization solicits bids for the annual audit from local audit firms and the firm with the lowest bid is chosen.
Answer the given problems regarding the following scenario:
A) Is this the most prudent option of auditor for the organization?
B) What must the managers take into consideration when attempting to recognize an appropriate audit firm?
Objective: describe knowledge of the current tax, auditing and accounting issues which concern governmental and not-for-profit entities.