BUNDLE OF ACC 550 EXAMS ALL WITH Questions with 100% Correct Verified Answers

an attitude that includes a questioning mind, being alert to conditions that may indicate possible misstatement due to fraud or error, and a critical assessment of audit evidence; includes questioning contradictory audit evidence and considering sufficiency and appropriateness of audit evidence o...

How is Information Relevant to Auditing? - ANSWER The financial statements that are audited are comprised of information. The audit report is also info itself. Reduces info asymmetries and info risk. What does it mean to be an audit professional? - ANSWER To be ethical, inquisitive, and professi...

Indications of noncompliance - ANSWER 1) Investigation by governmental agency 2) Violations cited by regulators 3) Unusually large payments made in cash 4) Unexplained payments of gov't officials 5) Improperly recorded transactions 6) Purchasing prices significantly above/below market 7) Adve...

the omission or misstatement of an item in a financial report is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying upon the report would have be been changed or influenced by the inclusion...

What company's CEO was named Business Week's CEO of the year for 2001? - ANSWER TYCO CEO, DENNIS KOZLOWSKI What CEO said, "We are the good guys. We are on the side of angels"? - ANSWER Jeffrey Skilling, Enron What companies' CFOs were named CFO of the year for 1999, 2000, and 2001 by CFO m...

Responses to Address the Risk of Management Override - ANSWER -review accting ests for biases -eval bus rationale for sig unusual trans (internal/external pressures) -test appropriateness of JEs and other adjs AU-C 240 Three Classifications of Journal Entries - ANSWER 1. Standard, recurring ent...

according to the IIA, continuing professional development activities may include a. up to 8 hours of ethics training of which 4 hours are mandatory for nonpracticing CIAs b. participating in conferences, online and classroom courses, and webinars c. completion of at least 40 hours of continuing p...