100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS 2ND EDITION BY RAYMOND N JOHNSON, LAURA DAVIS WILEY, ROBYN MORONEY, FIONA CAMPBELL, JANE HAMILTON (CHAPTER 1_16) SOLUTIONS MANUAL $27.39
Add to cart
Quickly navigate to
Preview
  2.  
  3. AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS
  4.  
  5. AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS

Exam (elaborations)

AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS 2ND EDITION BY RAYMOND N JOHNSON, LAURA DAVIS WILEY, ROBYN MORONEY, FIONA CAMPBELL, JANE HAMILTON (CHAPTER 1_16) SOLUTIONS MANUAL
 0 purchase
  • Course
  • AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS
  • Institution
  • AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS

AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS 2ND EDITION BY RAYMOND N JOHNSON, LAURA DAVIS WILEY, ROBYN MORONEY, FIONA CAMPBELL, JANE HAMILTON (CHAPTER 1_16) SOLUTIONS MANUAL

Preview 4 out of 357  pages

Document information

  • July 16, 2024
  • 357
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • auditing a practical approach with data analytics

Connected book

book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:

More summaries for

All for this textbook (61)

Written for

  • AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS
  • AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS

Seller

avatar-seller
Succeed

Reviews received

Content preview

, AUDITING A PRACTICAL APPROACH WITH DATA ANALYTICS
2ND EDITION BY RAYMOND N JOHNSON, LAURA DAVIS WILEY,
ROBYN MORONEY, FIONA CAMPBELL, JANE HAMILTON
(CHAPTER 1_16) SOLUTIONS MANUAL
Chapter 1-16
CHAPTER 1
Introduction and Overview of Audit and Assurance
Learning Objectives
1. Differentiate among assurance, attestation, and auditing services.
2. Describe the different types of assurance services.
3. Explain the demand for audit and assurance services.
4. Discuss the different roles of the financial statement preparer and the auditor.
5. Identify the roles of different regulators and organizations that affect the audit profession.
6. Explain the concepts of reasonable assurance, materiality, and the nature of an unquali-
fied/unmodified report on the audit of financial statements.
7. Explain the concept of reasonable assurance and the nature of an unqualified report on
internal controls over financial reporting.
8. Discuss the audit expectation gap.



ANSWERS TO MULTIPLE-CHOICE QUESTIONS
1. C
LO 1, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Assurance, Attestation, and Audit Services


2. A
LO 2, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Different Assurance Services


3. B
LO 2, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Different Assurance Services


4. C
LO 2, BT: C, Difficulty: Medium, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Different Assurance Services


5. C
For Instructor Use Only

,LO 3, BT: C, Difficulty: Medium, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Demand for Audit and Assurance Services




For Instructor Use Only

, 6. B
LO 4, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Preparers and Auditors


7. A
LO 5, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Reporting, Section: The Role of Regulators and
Regulations


8. D
LO 5, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA BC: Governance Perspective, Section: The Role of
Regulators and Regulations


9. D
LO 6, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Audit Report on Financial Statements


10. C
LO 6, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Reporting, Section: Audit Report on the Financial
Statements


11. B
LO 7, BT: C, Difficulty: Easy, TOT: 2 min., AACSB: None, AICPA AC: Reporting, Section: Audit Report on Internal
Controls over Financial Reporting


12. B
LO 8, BT: C, Difficulty: Medium, TOT: 2 min., AACSB: None, AICPA PC: Professional Behavior, Section: The Audit
Expectation Gap

ANSWERS TO REVIEW QUESTIONS
R1.1 An assurance service is any service provided by an independent practitioner that im-
proves the quality of information, or its context, for decision makers. An independent practitioner
can verify that the information meets relevant criteria, which provides assurance to users who
intend to use the information for decision making. An assurance engagement has three parties:
the assurance provider (auditor/practitioner), the party responsible for providing the information
(client), and the intended users of the information (investors/lenders/others who rely on the in-
formation).
LO 1, BT: C, Difficulty: Easy, TOT: 5 min., AACSB: None, AICPA AC: Risk Assessment, Analysis and Management,
Section: Assurance, Attestation, and Audit Services


R1.2 The criterion used in a financial statement audit to measure and evaluate subject matter is
the applicable financial reporting framework used by the client. The most common framework


For Instructor Use Only

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Succeed. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $27.39. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

65004 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$27.39
  • (0)
Add to cart
Added