CPA Audit Review module 4 - 1

After assessing the risks of material misstatement, the auditors design and perform further audit procedures - _______________ and ________________.

For account balance assertions, what is checked for the existence assertion?

For Account balances, when you check if assets, liabilities, and equity interests exist, what assertion are you checking?

For account balance assertions, what is checked for the Rights and Obligations assertion?

For account balance assertions, what is checked for the Completeness assertion?

For account balance assertions, what is checked for the Valuation and allocation assertion?

For Account balances, when you check if the entity holds or controls the rights to assets and liabilities are the obligation or the entity, what assertion are you checking?

For Account balances, when you check if all assets, liabilities, and equity interests have been recorded, what assertion are you checking?

For Account balances, when you check if Assets liabilities and equity interests are included at appropriate amounts, what assertion are you checking?

For Transaction classes assertions, what is checked for the Occurence assertion?

For Transaction classes assertions, what is checked for the Completeness assertion?

For Transaction classes assertions, what is checked for the Accuracy assertion?

For Transaction classes assertions, what is checked for the Cutoff assertion?

For Transaction classes assertions, what is checked for the Classification assertion?

For Transaction classes, when you check if transactions and events that have been recorded have occurred and pertain to the entity, what assertion are you checking?

For Transaction classes, when you check if all transactions and events have been recorded, what assertion are you checking?

For Transaction classes, when you check if amounts and other data relating to recorded transactions have been recorded appropriately, what assertion are you checking?

For Transaction classes, when you check if transactions and events have been recorded in the correct accounting period, what assertion are you checking?

For Transaction classes, when you check if transactions and events have been recorded in the proper accounts, what assertion are you checking?

For Disclosure assertions, what is checked for the Occurence assertion?

For Disclosure assertions, what is checked for the Rights and obligations assertion?

For Disclosure assertions, what is checked for the Completeness assertion?

For Disclosure assertions, what is checked for the Accuracy and valuation assertion?

For Disclosure assertions, what is checked for the Classification and understandability assertion?

For Disclosures, when you check if disclosed events and transaction have occured, what assertion are you checking?

For Disclosures, when you check if disclosed events pertain to the entity, what assertion are you checking?

For Disclosures, when you check if all disclosures that should have been included have been included, what assertion are you checking?

For Disclosures, when you check if information is disclosed fairly and at appropriate amounts, what assertion are you checking?

For Disclosures, when you check if information is presented and described clearly, what assertion are you checking?

For the ------------------------------------, accounts are described and classified in accordance with generally accepted accounting principles and financial statement disclosures are complete, appropriate, and clearly expressed.

For the presentation and disclosure assentation, accounts are described and classified in accordance with -------------------------------------------------- and financial statement disclosures are complete, appropriate, and clearly expressed.

For the --------------------------- assentation's, assets, liabilities, and equity interests exist, and recorded transactions and events have occurred.

For the ----------------------------- assentation's, the company holds rights to the assets and liabilities are the obligations of the company.

For the ---------------------------- assentation's all assets, liabilities, equity interest and transactions that should have been recorded, and all transactions and events recorded in the appropriate accounting period.

For the -----------------------------------assentation's, all transactions, assets, liabilities, and equity interests are included in the financial statements at proper amounts.

The ------------------------------relates to whether the recorded amount is bona fide.

The ---------------------- assentation addresses the issue of whether all transactions have been recorded

The statement on attestation standards suggest 2 basic types of evidence collection procedures

1.

2. internal inquires

The statement on attestation standards suggest 2 basic types of evidence collection procedures

1. search and verification

2.

The statement on attestation standards suggest 2 basic types of evidence collection procedures

1.

2.