Financial Statement --determines (a) whether an audited agency's financial statements present fairly the financial position, results of operations and cash flows or changes in financial position in accordance with generally accepted accounting principles or another comprehensive basis of accounting; and (b) whether the entity has complied with laws and regulations that may have a material effect on the financial statements. (See CAFR Audit and Single Audit)
 

Financial-Related -- determines (a) whether financial reports and related items such as elements, accounts or funds are fairly presented, (b) whether financial information is presented in accordance with established or stated criteria; and (c) whether the entity has adhered to specific financial compliance requirements. (See Statutory Audits)

Economy and Efficiency -- determines (a) whether the entity is acquiring, protecting and using its resources (such as personnel, property and space) economically and efficiently; (b) the causes of inefficiencies or uneconomical practices; and (c) whether the entity has complied with laws and regulations pertaining to economy and efficiency.
 

Program Results -- determines (a) whether the desired results or benefits that the Legislature or other authorizing bodies establish are being achieved; and (b) the effectiveness of organizations, programs, activities or functions, and whether the entity has complied with laws and regulations applicable to the program.
 

Special Scope -- Generally undertaken with a limited scope, these audits are designed to obtain information about a specific activity or action that has occurred or is contemplated.