Which of the following is NOT a type of federal audit?

• A. Financial
• B. Attestation
• C. Performance
• D. Compliance

Answer: (D)

Federal audits are commonly grouped into three main categories. A financial audit focuses on whether financial statements present fairly in accordance with established standards. An attestation engagement provides assurance on a subject matter or an assertion about that subject matter, based on evidence gathered. A performance audit evaluates whether a program or activity is achieving its objectives with economy, efficiency, and effectiveness.

Compliance audits, while important, are not listed as a separate category of federal audit in this framework. They can be addressed within attestation engagements or performance audits, or under specific statutory requirements, but they aren’t treated as one of the standard audit types by themselves.

So, the term that is not a standalone type of federal audit is compliance.