In the REPORTING phase of governmental auditing, what are the two types of potential benefits identified?

In the REPORTING phase of governmental auditing, what are the two types of potential benefits identified?

• A. Quantitative and qualitative
• B. Monetary and non-monetary
• C. Short-term and long-term
• D. Internal and external

Answer: (B)

In the reporting phase, the focus is on what value could result from acting on the audit recommendations. The two types of potential benefits identified are monetary and non-monetary. Monetary benefits are those that can be expressed in financial terms—such as cost savings, reduced expenditures, or additional revenue. Non-monetary benefits are improvements that aren’t easily priced in dollars but still matter, like stronger internal controls, better accountability, improved efficiency, and enhanced compliance or service quality. Highlighting both types helps decision-makers understand the full impact: the direct financial impact plus the broader organizational improvements. Other pairings describe how benefits are measured, the time frame, or who benefits, rather than the nature of the benefits themselves.

In the reporting phase, the focus is on what value could result from acting on the audit recommendations. The two types of potential benefits identified are monetary and non-monetary. Monetary benefits are those that can be expressed in financial terms—such as cost savings, reduced expenditures, or additional revenue. Non-monetary benefits are improvements that aren’t easily priced in dollars but still matter, like stronger internal controls, better accountability, improved efficiency, and enhanced compliance or service quality. Highlighting both types helps decision-makers understand the full impact: the direct financial impact plus the broader organizational improvements. Other pairings describe how benefits are measured, the time frame, or who benefits, rather than the nature of the benefits themselves.