Examen
Test Bank For Principles of Auditing & Other Assurance Services, 22nd Edition All Chapters - 9781260247954
Test Bank For Principles of Auditing & Other Assurance Services, 22nd Edition All Chapters
[Montrer plus]
Livre connecté
Titre de l’ouvrage:
Auteur(s):
- Édition:
- ISBN:
- Édition:
Aperçu du contenu
Test Bank for Principles of Auditing & Other Accounting Services - 22e - Whittington - Chapter 01 - Static 1) Although independent audits of today place more emphasis on sampling than did the audits of the 19th century, in increasing circumstances, changes in information technology are again making possible audits of aspects of all transactions in large populations. ⊚ true ⊚ false 2) The American Institute of Certified Public Accountants creates the CPA Exam, while individual states issue CPA certificates and permits CPAs to practice. ⊚ true ⊚ false 3) The GAO is limited by statute to performing only compliance audits. ⊚ true ⊚ false 4) The SEC does not pass on the merits of the securities that are registered with the agency. ⊚ true ⊚ false 5) The American Institute of Certified Public Accountants has the primary authority to establish accounting standards. ⊚ true ⊚ false 6) When a CPA firm enrolls in the AICPA Peer Review Program, it agrees to comply with the AICPA’s Quality Control Standards and to have a peer review of its accounting and auditing practice every seven years. ⊚ true ⊚ false 7) Despite the high cost, virtually all small companies have their financial statements audited by a CPA firm, so they can obtain a loan. ⊚ true ⊚ false 1 Test Bank for Principles of Auditing & Other Accounting Services - 22e - Whittington - Chapter 01 - Static 8) Senior auditors in CPA firms may be responsible for planning and coordinating audits on smaller engagements. ⊚ true ⊚ false 9) The Sarbanes-Oxley Act requires that auditors of certain publicly traded companies in the United States perform an integrated audit that inclu des providing assurance on both the financial statements and on compliance with laws and regulations. ⊚ true ⊚ false 10) Auditing is frequently only a small part of the practice of local CPA firms. ⊚ true ⊚ false 11) A summary of findings rather than assurance is most l ikely to be included in a(n): A) Agreed-upon procedures report. B) Compilation report. C) Audit report. D) Review report. 12) The Statements on Auditing Standards have been issued by the: A) Auditing Standards Board. B) Financial Accounting Standards Board. C) Securities and Exchange Commission. D) Federal Bureau of Investigation. 13) The risk that a company ’s financial statements will materially depart from generally accepted accounting principles is referred to as: A) Business Risk. B) Information Risk. C) Detection Risk. D) Document Risk. 2 Test Bank for Principles of Auditing & Other Accounting Services - 22e - Whittington - Chapter 01 - Static 14) Historically, which of the following has the AICPA been most concerned with providing? A) Auditing standards. B) Professional guidance for regulating financial markets. C) Internal auditing standards. D) Staff support to Congress. 15) The organization charged with protec ting investors and the public by requiring full disclosure of financial information by companies offering securities to the public is the: A) Auditing Standards Board. B) Financial Accounting Standards Board. C) Government Accounting Standards Boards. D) Securities and Exchange Commission. 16) An engagement in which a CPA firm arranges for a critical review of its practices by another CPA firm is referred to as a(n): A) Peer Review Engagement. B) Quality Control Engagement. C) Quality Assurance Engagement. D) Attestation Engagement. 17) The sequentially-numbered pronouncements issued by the Auditing Standards Board over a period of years are known as: A) Auditing Statements of Position (ASPs). B) Accounting Series Releases (ASRs). C) Statements on Auditing Standards (SASs). D) Statements on Auditing Principles (SAPs). 18) Government Accountability Office (GAO): A) is primarily concerned with rapid processing of all accounts payable incurred by the federal government. B) responsibilities include audits of government agencies. C) is an organization of professional accountants whose primary interest is in the effectiveness of presidential expenditures. D) is primarily concerned with budgets and forecasts approved by the PCAOB. 3 Test Bank for Principles of Auditing & Other Accounting Services - 22e - Whittington - Chapter 01 - Static 19) The risk associated with survivability and profitability is referred to as: A) Information risk. B) Inherent risk. C) Relative risk. D) Business risk. 20) The risk that a company will not be able to meet its obligations when they become due is an aspect of: A) Information risk. B) Inherent risk. C) Relative risk. D) Business risk. 21) Which of the following attributes is more essential for an auditor than of management? A) Integrity. B) Competence. C) Independence. D) Keeping informed on current professional developments. 22) The attest function: A) Is an essential part of every engagement by the CPA, whether performing auditing, tax work, or other services. B) Includes the preparation of a report of the CPA's findings. C) Requires a consideration of internal control. D) Requires a complete review of all transactions durin g the period under examination. 23) Attestation risk is limited to a low level in which of the following engagement(s)? A) Both examinations and reviews. B) Examinations, but not reviews. C) Reviews, but not examinations. D) Neither examinations nor reviews. 24) When compared to an audit performed prior to 1900, an audit today: A) Is more likely to use sampling in more areas. B) Is less likely to include consideration of the effectiveness of internal control. C) Has bank loan officers as the primary financial statement user group. D) Includes a more detailed examination of all individual transactions. 4Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur HIUPRO. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour $49.99. Vous n'êtes lié à rien après votre achat.
Peut-on faire confiance à Stuvia ?
4.6 étoiles sur Google & Trustpilot (+1000 avis)
75323 résumés ont été vendus ces 30 derniers jours
Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans