SWCAA is subject to Auditing by the Washington State Auditor in Accountability and Financial areas. The internal controls and activities of the Agency are evaluated. It is also determined whether the Agency complies with state laws and regulations and its own policies and procedures. In keeping with general auditing practices, not all transactions, activities or areas are examined. Instead, the areas examined were those representing the highest risk of noncompliance, misappropriation or misuse. The following areas are examined during the audits:
Financial audits are conducted in accordance with auditing standards generally accepted in the United States of America and the standards applicable to the financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that the audit is planned and performed to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.