100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
Solution Manual For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version$20.49
Solution Manual For Auditing & Assurance Services: A Systematic Approach, 12th Edition By William Messier Jr, Steven Glover, Verified Chapters 1 - 21, Complete Newest Version
,K T An Introduction to Assurance and Financial Statement Auditing
KT KT KT KT KT KT KT
1) Auditing focuses on rules, techniques, and computations required to prepare and analyze
KT KT KT KT KT KT KT KT KT KT KT KT
financial information. KT
ANSWER: FALSE Difficult K T KT
y: 1 Easy KT KT
Topic: The Importance for Studying Auditing
K T KT KT KT KT
Learning Objective: 01- KT K T
01 Understand why studying auditing can be valuable to you whether or not you plan to become a
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
n auditor, and why it is different from studying accounting.
KT KT KT KT KT KT KT KT KT
Bloom's: Remember AAC K T KT
SB: Communication K T
AICPA: BB Legal; FN Decision Making K T KT KT KT KT
2) Decision makers demand reliable information that is provided by accountants. KT KT KT KT KT KT KT KT KT
ANSWER: TRUE Difficulty K T KT
: 1 Easy
KT KT
Topic: The Demand for Auditing and Assurance
K T KT KT KT KT KT
Learning Objective: 01- KT K T
02 Understand the demand for auditing and be able to explain the desired characteristics of audit
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
ors and audit services through an analogy to a house inspector and a house inspection service.
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
Bloom's: Understand AA K T KT
CSB: Communication K T
AICPA: FN Decision Making; BB Industry K T KT KT KT KT
3) Information asymmetry seldom occurs. KT KT KT
ANSWER: FALSE Difficult K T KT
y: 2 Medium KT KT
Topic: The Demand for Auditing and Assurance
K T KT KT KT KT KT
Learning Objective: 01- KT K T
02 Understand the demand for auditing and be able to explain the desired characteristics of audit
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
ors and audit services through an analogy to a house inspector and a house inspection service.
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
Bloom's: Apply K T
AACSB: Communication K T
AICPA: BB Industry; FN Reporting K T KT KT KT
, 4) Conflicts of interest often occur between absentee owners and managers.KT KT KT KT KT KT KT KT KT
ANSWER: TRUE Difficulty K T KT
: 2 Medium
KT KT
Topic: The Demand for Auditing and Assurance
K T KT KT KT KT KT
Learning Objective: 01- KT K T
02 Understand the demand for auditing and be able to explain the desired characteristics of audit
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
ors and audit services through an analogy to a house inspector and a house inspection service.
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
Bloom's: Apply K T
AACSB: Communication K T
AICPA: BB Industry; FN Reporting K T KT KT KT
5) Auditing services and attestation services are the same. KT KT KT KT KT KT KT
ANSWER: FALSE Difficult K T KT
y: 1 Easy
KT KT
Topic: Auditing, Attest, and Assurance Services Defined
K T KT KT KT KT KT
Learning Objective: 01- KT K T
03 Understand the relationships among auditing, attestation, and assurance services.
KT KT KT KT KT KT KT KT KT
Bloom's: Understand AA K T KT
CSB: Communication K T
AICPA: BB Industry; FN Reporting K T KT KT KT
6) Auditing is a type of attest service. KT KT KT KT KT KT
ANSWER: TRUE Difficulty K T KT
: 1 Easy
KT KT
Topic: Auditing, Attest, and Assurance Services Defined
K T KT KT KT KT KT
Learning Objective: 01- KT K T
03 Understand the relationships among auditing, attestation, and assurance services.; 01-
KT KT KT KT KT KT KT KT KT KT
04 Know the basic definition of a financial statement audit.
KT KT KT KT KT KT KT KT KT
Bloom's: Understand AA K T KT
CSB: Communication K T
AICPA: BB Industry; FN Reporting K T KT KT KT
7) Testing all transactions that occurred during the period is cost prohibitive.
KT KT KT KT KT KT KT KT KT KT
ANSWER: TRUE Difficulty K T KT
: 2 Medium Topic: The Au
KT KT KT K T KT
dit Process KT
Learning Objective: 01- KT K T
06 Be able to explain why on most audit engagements an auditor tests only a sample of transactio
KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT KT
ns that occurred.
KT KT
Bloom's: Apply K T
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 GeniusSolutions. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $20.49. You're not tied to anything after your purchase.
