Solutions for Auditing Theories
(Assurance and Non- Assurance
Services)15th Canadian Edition Arens
The Auditors Satisfaction as to the reliability of an assertion made by one party for use by
another is called:
A. Assurance B. Reliance factor C. Precision D. Materiality - ANSA
An engagement in which a practitioner expresses a conclusion designed to enhance the degree
of confidence of the intended users other than the responsible party about the outcome of the
evaluation or measurement of a subject matter against criteria
A. Assurance Engagement
B. Attestation Engagement
C. Audit Engagement
D. Management consulting Engagement - ANSA
For Assurance Engagement which are neither audits nor reviews of historical financial
information, the following standard applies:
A. PSAs B. PSREs C. PSAEs D. PSRSs - ANSC
Pronouncements of the auditing and assurance standards council (AASC) do not cover:
A. Review Engagements
B. Compilations
C. Agreed-upon procedures Engagement
D. Consultancy Services - ANSD
The Philippines Standards on Auditing issued by AASC:
A. Apply to an independent examination of financial statements of an entity when such an
examination is conducted for the purpose of expressing an opinion thereon.
B. Must not apply to other related activities of auditors.
C. Need to be applied on all audit-related matters.
D. Require that in no circumstances would an auditor may judge it necessary to depart from a
PSA, even though such a departure may result to more effective achievement of the objective of
an audit - ANSA
Which of the following is NOT an element of an assurance engagement?
A. Sufficient appropriate Evidence
B. Appropriate Professional Fees
, C. A subject matter
D. A written Assurance Report - ANSB
The Person, Persons or class of Persons from whom the practitioner prepares the assurance
report.
A. General Public
B. Responsible Party
C. Audit Committee
D. Intended Users - ANSD
According to the IAASB Glossary of terms, this refers to a professional accountant in public
practice.
A. Auditor
B. Practitioner
C. Public Accountant
D. Professional - ANSB
The person or persons who in direct reporting engagement, is responsible for the subject; or in
an assertion-based engagement, is responsible for the subject matter information (the
assertion), and may be responsible for the subject matter.
A. General public
B. Responsible party
C. Audit Committee
D. Intended Users - ANSB
12. Which of the following forms may the subject matter of an assurance engagement take?
I. Financial Performance or condition
II. Non-financial performance or condition
III. Physical characteristics
IV. Systems and processes
V. Behavior
A. I and II
B. I, II, and III
C. I, II, III and IV
D. I, II, III, IV, V - ANSD
The outcome of the evaluation or measurement of a subject matter.
A. Audit Report
B. Subject Matter Information
C. Subject Analysis
D. Criteria - ANSB
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