CPA Exam: Auditing and Attestation Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
4 views 0 purchase
Course
CPA
Institution
CPA
A CPA firm's quality control procedures pertaining to the acceptance of a
prospective audit client would most likely include
-:- Consideration of the business reputation of the client's principal
owners, key management, related parties, and those charged with
governance.
A difference of op...
CPA Exam: Auditing and Attestation
Questions & 100% Correct Answers- Latest
Test | Graded A+ | Passed
A CPA firm's quality control procedures pertaining to the acceptance of a
prospective audit client would most likely include
✓ -:- Consideration of the business reputation of the client's principal
owners, key management, related parties, and those charged with
governance.
A difference of opinion concerning accounting and auditing matters relative to a
particular phase of the audit arises between an assistant auditor and the auditor
responsible for the engagement. After appropriate consultation, the assistant
auditor asks to be dissociated from the resolution of the matter. The audit
documentation would probably be
✓ -:- Expanded to detail the assistant auditor's position and how the
difference of opinion was resolved.
Must a CPA in public practice be independent in fact and appearance when
providing the following services?
✓ -:- Compilation of personal Financial Statements: No, Preparation of
a tax return: No, Compilation of a financial forecast: No
✓ -:- Maintain public confidence in the profession
According to the PCAOB, which of the following tax services may be provided
jointly with the audit of an issuer's financial statements without impairing
independence?
✓ -:- Reviewing a proposed transaction and informing the client of the
tax consequences.
In an audit of financial statements for which an auditor's assessment of risk is
judgmental and may not be sufficiently precise to identify all risks of material
misstatement, the auditor should take which of the following actions?
✓ -:- Perform substantive procedures for all relevant assertions
related to each material class of transactions.
The auditor should consider certain factors in assessing the efficiency and
effectiveness of analytical procedures as compared to tests of details. In
determining whether and to what extent analytical procedures should be used,
which of the following should the auditor consider?
✓ -:- The nature of the assertion tested.
2|Page | Grade A+| 2024/2025
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 Latestupdate. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
