41 risk based audit plan - Study guides, Class notes & Summaries

Auditing & Assurance Services, 7e (Louwers) Chapter 2 Professional Standards 1) Control risk is A) the probability that a material misstatement could not be prevented or detected by the entity's internal control policies and procedures. B) the probability that a material misstatement could occur and not be detected by auditors' procedures. C) the risk that auditors will not be able to complete the audit on a timely basis. D) the risk that auditors will not properly control the staff on th...

Understanding and Managing Organizational Behavior, 6e (George/Jones) Chapter 3 Work Values, Attitudes, and Moods and Emotions 1) A person's thoughts and feelings about the meaning and nature of work itself are called values. Answer: TRUE Diff: 1 Page Ref: 67 Topic: Values, Attitudes, and Moods and Emotions Skill: conceptual Objective: Describe the nature of work values and ethical values and why they are critically important in organizations. 2) Values are concerned with...

Auditing & Assurance Services: A Systematic Approach, 11e (Messier) Chapter 1 An Introduction to Assurance and Financial Statement Auditing 1) Auditing focuses on rules, techniques, and computations required to prepare and analyze financial information. Answer: FALSE Difficulty: 1 Easy Topic: The Importance for Studying Auditing Learning Objective: 01-01 Understand why studying auditing can be valuable to you whether or not you plan to become an auditor, and why it is different from studyin...

Chapter 03 Audit Planning, Types of Audit Tests, and Materiality True / False Questions 1. The first phase of audit planning is risk assessment. True False 2. When the prospective client has previously been audited, auditing standards require that the successor auditor make certain inquiries of the predecessor auditor before accepting the engagement. True False 3. The Code of Professional Conduct does not allow an auditor to disclose confidential client information without the client's con...

Auditing & Assurance Services, 7e (Louwers) Chapter 1 Auditing and Assurance Services 1) The audit objective that all transactions and accounts that should be presented in the financial statements are in fact included is related to which of the PCAOB assertions? A) Existence. B) Rights and obligations. C) Completeness. D) Valuation. Answer: C Difficulty: 1 Easy Topic: Management's Financial Statement Assertions Learning Objective: 01-03 Describe and define the assertions that managemen...

Chapter 01 The Role of the Public Accountant in the American Economy True / False Questions 1. Independent audits of today place more emphasis on sampling than did the audits of the 19th century. True False 2. The American Institute of Certified Public Accountants issues CPA certificates and permits CPAs to practice. True False 3. A company is either audited by the GAO or internal auditors, but not both. True False 4. The SEC does not pass on the merits of the securities that are registe...

Western Governors University. D220 Information Technology In Nursing Practice. Complete: WGU D220 Actual Exam Updated 2024. 100% Questions & Correct Answers Rated A+. 1. Which information in an electronic medical record (EMP) helps a nurse plan & manage a patient's post-operative care after open-heart surgery - CORRECT ANSWER-Provider orders 2. Which information in a patient's electronic medical record (EMA), in addition to the nursing flowsheets & provider orders, helps a nu...

SHRM-CP PRACTICE EXAM 231 Questions with Verified Answers 1) A specialized field which works on engineering the work environment is: A. industrial existentialism. B. ergonomics. C. environmentalism. D. engineering design - CORRECT ANSWER B. ergonomics. 2) A primary advantage of unstructured versus structured interviewing techniques is that: A. structured interviews take less time B. in an unstructured interview, the interviewer can ask follow-up questions and pursue points of interest as t...

Chapter 1 - Auditing: Integral to the Economy 1. The need for assurance services arises because the interests of the users of information may be different from that of the interests of those responsible for providing information. ANSWER: POINTS: NATIONAL STANDARDS: STATE STANDARDS: TOPICS: a. b. True False True 1 United States - BUSPORG: Analytic United States - AK - AICPA BB-Critical thinking Demand for Assurances 2. A financial statement audit is a systematic process of objectively ...

CRISC EXAM TOPIC 2 LONG Questions and Answers 2023 Question #:2 - (Exam Topic 2) A recent audit identified high-risk issues in a business unit though a previous control self-assessment (CSA) had good results. Which of the following is the MOST likely reason for the difference? A. The audit had a broader scope than the CSA. B. The CSA was not sample-based. C. The CSA did not test control effectiveness. D. The CSA was compliance-based, while the audit was risk-based. D. The CSA was compli...