Government Accountability Office (GAO).

Using  the fictitious entity created in the assignments for the first two weeks, you  will continue to work with that agency for this week. Your fictitious agency has decided to start  an internal audit function and hire an auditor. As the budget director of the  agency, you need to determine the standards that will guide the auditor’s  actions. Become familiar with the possible standards and their sources and  legal requirements for auditing. Write  a 4- to 5-page paper describing the necessary internal financial and management  controls you would like to include for your fictitious entity.             Consider  the controls to ensure valid financial statements, protect assets, comply with  regulations, use resources efficiently, and achieve objectives. Consider  the feasibility of such controls. Provide an example and calculate some numbers  to facilitate the auditing process to back up your analysis. Evaluate  alternative controls. The  standards you will need to adopt and evaluate options, including standards by  Government Accountability Office (GAO). Include  information on what benefits the standards will have on the credibility and  responsibility of the auditor. Report on how this audit will impact your  budget. Must be done in APA format. Using  the fictitious entity created in the assignments for the first two weeks, you  will continue to work with that agency for this week. Your fictitious agency has decided to start  an internal audit function and hire an auditor. As the budget director of the  agency, you need to determine the standards that will guide the auditor’s  actions. Become familiar with the possible standards and their sources and  legal requirements for auditing. Write  a 4- to 5-page paper describing the necessary internal financial and management  controls you would like to include for your fictitious entity.             Consider  the controls to ensure valid financial statements, protect assets, comply with  regulations, use resources efficiently, and achieve objectives. Consider  the feasibility of such controls. Provide an example and calculate some numbers  to facilitate the auditing process to back up your analysis. Evaluate  alternative controls. The  standards you will need to adopt and evaluate options, including standards by  Government Accountability Office (GAO). Include  information on what benefits the standards will have on the credibility and  responsibility of the auditor. Report on how this audit will impact your  budget. Must be done in APA format.