AUD

Which of the following is a conceptual difference between the attestation standards and generally accepted auditing standards?

which of the following is not an attestation standard?

which of the following is most likely to be unique to the audit work of CPA's as compared to work performed by practitioners of other professions

the third general standard states that due care is to be exercised in the performance of an audit. This standard is ordinarily interpreted to require

after fieldwork I see you, a partner of the CPA firm was not involved in the audit forms a second or wrap up working paper review. This second review usually focuses on

financial statement assertions are established for account balances,

which of the following is not financial statement assertion relating to account balances?

as the acceptable level of detection risk decreases, auditor may

the risk that an auditor will conclude, based on substantive tests, and material misstatement does not exist an account balance when, in fact, such misstatement does exist is referred to as

as the acceptable level of detection risk decreases the assurance directly provided from

which of the following audit risk components may be assessed in non-quantitative terms

inherent risk and control risk differ from detection risk in that they

on the basis of the audit evidence gathered and evaluated, auditor decides to increase the assessed level of control risk from that originally planned. To achieve an overall audit risk level that is substantially the same as the planned audit risk level, the auditor would

relationship between control risk and detection risk is ordinarily

which of the following would it auditor most likely use determining the auditor's preliminary judgment about materiality

which of the following statements is not correct about materiality

which of the following elements underlies the application of generally accepted auditing standards, particularly the standards of fieldwork and reporting?

in considering materiality for planning purposes, and auditor believes that misstatements aggregating $10,000 would have a material fact on entities income statement, but that misstatements would have to aggregate 20,000 to materially affect the balance sheet. Ordinarily, it would be appropriate to design auditing procedures that would be expected to detect the statements that aggregate

which of the following would it auditor most likely use in determining the auditor's preliminary judgment about materiality?

holding other planning considerations equal, a decrease in the amount of misstatement in a class of transactions that an auditor could tolerate most likely would cause the auditor to

when issuing an unqualified opinion, the auditor who evaluates the audit findings should be satisfied that the

an attitude that includes a questioning mind and a critical assessment of audit evidence is referred to as

professional skepticism requires that an auditor assume that management is

which of the following is an example of fraudulent financial reporting

which of the following best describes what is meant by the term fraud risk factor?

which of the following is correct concerning requirements about auditor communications about fraud

when performing a financial statement audit, auditors are required to explicitly assess the risk of material misstatement due to

audits of financial statements are designed to obtain assurance of detecting misstatement due to

and auditor is unable to obtain absolute assurance that misstatements due to fraud will be detected for all of the following except

the most difficult type of misstatement to detect is fraud based on

when considering fraud risk factors relating to management's characteristics, which of the following is least likely to indicate a risk of possible misstatement due to fraud?

which of the following conditions identified during fieldwork of an audit is most likely to affect the auditor's assessment of the risk of misstatement due to fraud

which of the following is most likely to be a response to the audit tors assessment of the risk of material misstatement due to fraud the existence of inventory is high

which of the following is most likely to be an example of fraud

which of the following characteristics most likely would heighten an auditors concern about the risk of intentional manipulation of financial statements

which of the following statements reflects and auditors responsibility for detecting misstatements due to errors and fraud

disclosure of fraud to parties other than a client senior management and its audit committee or board of directors ordinarily is not part of and auditors responsibility however to which of the following outside parties may duty to disclose fraud exist

under statements on auditing standards, which of the following would be classified as an error

what assurance does the auditor provide that misstatements due to errors, fraud, and direct effect illegal acts that are material to the financial statements will be detected

because of the risk of material misstatement, an audit of financial statements in accordance with generally accepted auditing standards should be planned and performed with an attitude of

which of the following most accurately summarizes what is meant by the term material misstatement

which of the following statements best describes the auditors responsibility to detect conditions relating to financial stress of employees or adverse relationships between a company and its employees

when the auditor believes in misstatement is or may be the result of fraud but that the effect of the misstatement is not material to the financial statements, which of the following steps is required

which of the following statements is correct relating to the auditors consideration of fraud

which of the following factors are conditions is and auditor least likely to plan an audit to discover

at which stage of the audit may fraud risk factors be identified

management's attitude toward aggressive financial reporting and its emphasis on meeting projected profit goals most likely would significantly influence and entities control environment when

which of the following is least likely to be required on an audit

which of the following is most likely to be an overall response to fraud risks identified in an audit

which of the following is least likely to be included in an auditors inquiry of management while obtaining information to identify the risks of material misstatement due to fraud

individuals who commit fraud are ordinarily able to rationalize the act and also have and

what is and auditors responsibility you discovers management involved in what is financially immaterial fraud

which of the following is most likely to be considered a risk factor relating to fraudulent financial reporting

which of the following is most likely to be presumed to represent fraud risk on an audit

an auditor who discovers the client's employees paid small bribes to municipal officialsmost likely would withdraw from the engagement if

which of the following factors most likely would cause a CPA to not accept a new audit engagement

which of the following factors would most likely heighten and auditors concerned about the risk of fraudulent financial reporting

in auditor who discovers the client employees have paid small bribes to public officials most likely would withdraw from the engagement if the

which of the following illegal acts should an audit be designed to obtain reasonable assurance of detecting

which of the following relatively small misstatements most likely could have a material effect on an entity's financial statements

during the annual audit of Ajax Corporation a publicly held company, Jones, CPA, a continuing auditor Jones notified the Board of Directors about the illegal contributions, but they refused to take any action because the amounts involved were immaterial to the financial statements. Jones should reconsider the intended degree of reliance to be placed on the

the most likely explanation why the auditor's examination cannot reasonably be expected to bring all illegal acts the client to the auditor's attention is that

if specific information comes to an auditor's attention that implies the existence of possible illegal acts that could have a material, but indirect effect on the financial statements, the auditors should next

in auditor discovers the client employees have committed an illegal act as a material fact the clients financial statements most likely would withdraw from the engagement if

under the Pvt. securities litigation Reform Act of 1995, Baker, CPA, reported certain uncorrectable illegal acts to supermarkets Board of Directors. Baker believed that failure to take remedial action would warrant qualified audit opinion because the illegal acts Adam serial affect on supermarkets financial statements. Supermarkets failed to take appropriate remedial action and the Board of Directors refused to inform the SEC that it had received such notification from Baker. Under these circumstances, Baker is required to

which of the following would be least likely to be considered an audit planning procedure

which of the following factors would most likely cause ACPA to decide not to accept a new audit engagement

before accepting an engagement to audit and the client, A CPA is required to obtain

before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding

before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding the predecessors

and auditor is required to establish an understanding with the client regarding the services to be formed for each engagement. This understanding generally includes

which of the following matters is generally included in an auditors engagement letter

during the initial planning phase of an audit, ACPA most likely would

which of the following statements would least likely appear and auditors engagement letter

which of the following documentation is not required for an audit in accordance with generally accepted auditing standards

an engagement letter should ordinarily include information on the objectives of the engagement

arrangements concerning which of the following are least likely to be included in engagement letter

the auditor should document the understanding established with the client through a

which of the following factors most likely would influence and auditor's determination of the auditability of an entity's financial statements

which of the followingis most likely to require special planning considerations related to asset valuation

ACPA wishes to determine how various publicly held companies have complied with the disclosure requirements of a new financial accounting standards. Which of the following information sources with the CPA most likely consult for the information

an audit for should design the written audit program so that

the audit program usually cannot be finalized until the

audit program should be designed so that

in designing written audit programs, and auditory should establish specific audit objectives that relate primarily to the

with respect to planning an audit which of the following statements is always true

the element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the

to obtain an understanding of a continuing clients business, and auditory is likely

on an audit engagement performed by a CPA firm with one office, at the minimum, knowledge of the relevant national accounting and auditing standards should be held by

in auditor obtains knowledge about a new client business and its industry to

which of the following procedures would and auditory least likely perform while obtaining an understanding of a client and a financial statement audit

ordinarily the predecessor auditory permits the successor auditor to review the predecessors working paper analysis relating to

in auditing the financial statements of Star Corporation, land discovered information leading land to believe that stars prior years financial statements, which audited by tell, requires substantial revisions. Under these circumstances, Land should

a successor auditors should request a new client to authorize the predecessor auditor to allow a review of the predecessors

which of the following procedures within auditor most likely perform implanting a financial statement audit

analytic procedures used in planning an audit should focus on

the objective of performing analytic procedures and planning an audit is to identify the existence of

which of the following nonfinancial information within auditory most likely consider him performing analytic procedures during the planning phase of an audit

the in charge auditor most likely would have a supervision tree responsibility to explain to the staff assistance

the audit work performed by each assistant should be reviewed to determine whether it was adequately performed and to evaluate whether the

while assessing the risks of material misstatement auditors identify risks, relate risk to what could go wrong, consider the magnitude of risks and

which of the following are considered further audit procedures that may be designed after assessing the risks of material misstatement

which of the following is least likely to be considered a risk assessment procedure

confirmation of ending Accounts Receivable

in an audit of a non-issue or, non-public company, the auditors identify significant risks. These risks often