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Test Bank for Auditing A Practical Approach, Canadian Edition 4th Edition,bKindlebEdition by Robyn Moroney Fiona Campbell Jane Hamilton Valerie Warren CA$32.22
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Test Bank for Auditing A Practical Approach, Canadian Edition 4th Edition,bKindlebEdition by Robyn Moroney Fiona Campbell Jane Hamilton Valerie Warren

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Test Bank for Auditing A Practical Approach, Canadian Edition 4th Edition,bKindlebEdition by Robyn Moroney Fiona Campbell Jane Hamilton Valerie Warren

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  • November 28, 2024
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TestBank for Auditing A Practical Approach, 4th
b b b b b b b




Canadian Edition 4th Edition, Kindle Edition by Rob
b b b b b b b




yn Moroney , Fiona Campbell , Jane
b b b b b b b




Hamilton , Valerie Warren
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b




b
b
b




b
CHAPTER 1 b b



INTRODUCTION AND OVERVIEW OF AUDIT AND ASSURANCE
b b b b b b b




CHAPTER LEARNING OBJECTIVES
b b b
b

, TESTbBANKbforbAuditingbAbPracticalbApproach,b4thbCanadianbEditionbMoroney,bCampbell,bWarrenb
Stuvia.comb-bThebMarketplacebtobBuybandbSellbyourbStudybMaterialb
https://browsegrades.net/singlePaper/416762/testbank-for-auditing-a-practical-
approach-4th-c b
b



1. Definebanbassurancebengagement.b
Anbassurancebengagementbinvolvesbanbassurancebproviderbarrivingbatanbopinionbaboutbsomebi
nformationbbeingbprovidedbbybtheirbclientbtoabthirdbparty.bAbfinancialbstatementbauditbisbonebtyp
ebofbassuranceengagement.bThisbengagementbinvolvesbanbauditorbarrivingbatbanbopinionabout
b thebfairbpresentationbofbthebfinancialbstatements.bThebauditreportbisbaddressedbtobthebsharehol
dersbofbthebcompanybbeingbaudited,butbotherbusersbmaybreadbthebfinancialbstatements.bLearni
ngbaboutauditingbandbassurancebrequiresbanbunderstandingbofbauditingbandassurancebtermino
logy,bincludingbtermsbsuchbasbauditbrisk,bmateriality,internalbcontrols,blistedbentity,bandbassertio
ns.b
b
b



2. Explainbwhybtherebisbabdemandbforbauditbandbassurancebservices.b
Financialbstatementbusersbincludebinvestorsb(shareholders),bsuppliers,customers,blenders,bempl
oyees,bgovernments,bandbthebgeneralbpublic.Thesebgroupsbofbusersbdemandbauditedbfinancialbs
tatementsbbecauseboftheirbremotenessbfrombthebentity,baccountingbcomplexity,btheirincentivesc
ompetingbwithbthosebofbthebentity‘sbmanagers,bandbtheirbneedforbreliablebinformationbonbwhichbto
b basebdecisions.bThebtheoriesbusedtobdescribebthebdemandbforbauditbandbassurancebservicesbar
ebagencytheory,bthebinformationbhypothesis,bandbthebinsurancebhypothesis.b
b
b
b

3. Differentiatebbetweenbtypesbofbassurancebservices.b
Assurancebservicesbincludebfinancialbstatementbaudits,bcomplianceaudits,bperformance
b audits,bcomprehensivebaudits,binternalbaudits,andbassurancebonbcorporatebsocialbrespo
nsibilityb(CSR)bdisclosures.b
b
b



4. Explainbthebdifferentblevelsbofbassurance.b
Thebdifferentblevelsbofbassurancebincludebreasonablebassurance,bwhichisbthebhighestblevelbofbass
urance,blimitedbassurance,bandbnobassurance.Reasonablebassurancebisbprovidedbonbanbauditbofb
abcompany‘sfinancialbstatements.bLimitedbassurancebisbprovidedbinbabreviewbofb

acompany‘sbfinancialDsotwantelomadeednbtsy:.BNRoIGaHTsEsRuSraTUnDcIeESis|bjpamroohvriadbehdasain70a@cgmomail.pco
ilmationengagemWeannttt.obearnb$1.236bb ayegaer?2b
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5. Outlinebdifferentbauditbopinionsb
Anbauditorbcanbissuebanbunmodifiedbopinion,balsobknownbasbabcleanreport,borbanbunmodifiedbopi
nionbwithbanbemphasisbofbmatterbparagraph.Alternatively,babmodifiedbopinionbmaybbebissuedbas
b abqualified,banadverse,borbabdisclaimerbofbopinion.b
b
b




Distributionbofbthisbdocumentbisbillegalb extrabperb
A+
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, TESTbBANKbforbAuditingbAbPracticalbApproach,b4thbCanadianbEditionbMoroney,bCampbell,bWarrenb
Stuvia.comb-bThebMarketplacebtobBuybandbSellbyourbStudybMaterialb
https://browsegrades.net/singlePaper/416762/testbank-for-auditing-a-practical-
approach-4th-c b

6. Differentiatebbetweenbthebrolesbofbthebpreparerbandbthebauditor,bandbdiscussbthebdifferentbfi
rmsbthatbprovidebassurancebservices.b

Itbisbthebresponsibilitybofbabcompany‘sbgoverningbbodybtobensurebthatitsbfinancialbstatementsba
rebrelevant,breliable,bcomparable,bunderstandable,andbtruebandbfair.bItbisbthebresponsibilitybofbt
hebauditorbtobformbanopinionbonbthebfairbpresentationbofbthebfinancialbstatements.bInbdoing,sob

1-b2bAuditing:bAbPracticalbApproach,bFourthbCanadianbEditionb

b
b

thebauditorbmustbmaintainbprofessionalbscepticismbandbutilizebprofessionaljudgementbandbduebcare
.b
b

ThebfirmsbthatbprovidebassurancebservicesbincludebthebBig-
4internationalbfirms,bthebnationalbfirmsb(withbinternationalblinks),localbandbregionalbfirms,ban
dbconsultingbfirmsbthatbtendbtobspecializeinbassurancebofbCSRbandbenvironmentalbdisclosur
es.b
b
b



7.bIdentifybthebdifferentbregulators,blegislation,bandbregulationsbsurroundingbthebassuranc
ebprocess.b
lOMoAR b bb b b b
cPSD | 30878 49 5




b
b
b
b
b
b


b
b
b
b
b
b
b
b

IntroductionbandbOverviewbofbAuditbandbAssuranceb 1b-b3b
b b
b b
b b
b b
b b
b b
b b
b b
b b
b b
b b
b b
b b
b b
b bb b
b b
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b b
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ayegaer?3b


Downloadedbby:bBRIGHTERSTUDIESb|bjamohrabhasa70@gmail.comb Wantbtobearnb$1.236b

A+b Distributionbofbthisbdocumentbisbillegalb extrabpePrb b

, TESTbBANKbforbAuditingbAbPracticalbApproach,b4thbCanadianbEditionbMoroney,bCampbell,bWarrenb
Stuvia.comb-bThebMarketplacebtobBuybandbSellbyourbStudybMaterialb
https://browsegrades.net/singlePaper/416762/testbank-for-auditing-a-practical-
approach-4th-c b
b



TRUE-FALSE STATEMENTS b b
b

1. Onlybcurrentbinvestorsb(notbpotentialbinvestors)barebconsideredbtobbebusersbofbthebfin
ancialbstatements.b
b

Answer:bFalseb
b
b

Bloomcode:bKnowledgeb
Difficulty:bEasyb
LearningbObjective:bExplainbwhybtherebisbabdemandbforbauditbandbassurancebservices.b
SectionbReference:b1.2bDemandbforbauditbandbassurancebservicesb
CPAbCompetency:bAuditbandbAssurancebAACSB
:bAnalyticb
b
b



2. Insurancebhypothesisbisbabmeansbwherebybthebinvestorbcanbguaranteebthebsuccessb
ofbtheirbinvestment.b
b

Answer:bFalseb
b
b

Bloomcode:bComprehensionb
Difficulty:bMediumb
LearningbObjective:bExplainbwhybtherebisbabdemandbforbauditbandbassurancebservices.b
SectionbReference:b1.2bDemandbforbauditbandbassurancebservicesb
CPAbCompetency:bAuditbandbAssurancebAACSB
:bAnalyticb
b
b
b

3. Abcompliancebauditbinvolvesbgatheringbevidencebtobascertainbwhetherbthebpersonborb
entitybunderbreviewbhasbfollowedbthebrules,bpolicies,bprocedures,blawsbandbregulationsbwithbw
hichbtheybmustbconformb
b

Answer:bTrueb
b
b

Bloomcode:bComprehensionb
Difficulty:bMediumb
LearningbObjective:bDifferentiatebbetweenbtypesbofbassurancebservices.b
SectionbReference:b1.3 bDifferentbassurancebservicesb
Downloadedbby:bBRIGHTERSTUDIESb|bjamohrabhasa70@gmail.comb Wantbtobearnb$1.236b
b
Distributionbofbthisbdocumentbisbillegalb extrabpePrbayegaer?4bb
A+b

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