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Test Bank For Auditing A Practical Approach with Data Analytics, 2nd Edition by Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton All Chapters A+ $10.99   Add to cart
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Test Bank For Auditing A Practical Approach with Data Analytics, 2nd Edition by Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton All Chapters A+

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Test Bank For Auditing A Practical Approach with Data Analytics, 2nd Edition by Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton All Chapters A+

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  • October 11, 2024
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  • test bank for auditing a practical approach with d
  • auditing a practical approach with data analytics
  • a practical approach with data analytics 2nd edit
  • 2nd edition by raymond n johnson laura davis wil

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TEST BANK for Auditing: A Practical Approach with
Data Analytics 2nd Edition by Laura Davis Wiley,
Raymond N. Johnson and Robyn Moroney ISBN-.
All Chapters 1-16 (Complete Download).

, Table of Contents

Chapter 1: Introduction and Overview of Audit and Assurance

Chapter 2: Professionalism and Professional Responsibilities

Chapter 3: Risk Assessment Part I: Audit Risk and Audit Strategy

Chapter 4: Risk Assessment Part II: Understanding the Client

Chapter 5: Audit Evidence

Chapter 6: Gaining an Understanding of the Client's System of Internal

Control

Chapter 7: Audit Data Analytics


Chapter 8: Risk Response: Performing Tests of Controls

Chapter 9: Risk Response: Performing Substantive Procedures

Chapter 10: Risk Response: Evaluating Audit Data Analytics and Audit

Sampling

Chapter 11: Auditing the Revenue Process


Chapter 12: Auditing the Purchasing and Payroll Processes

,Chapter 1




Introduction and Overview of Audit

and Assurance

Question Type: True or False




1. GAAP and IFRS are examples of applicable financial reporting framework.

A. True

B. False

Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Reporting, AACSB:

Communication, Learning Objective: LO1.1, Solution: The applicable financial reporting

framework refers to the set of standards used in preparing the historical financial statements,

such as GAAP, IFRS or a Federal Income Tax Basis of Accounting.




2. Review of financial forecasts falls under attestation services.

A. True

B. False

Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Measurement Analysis and



4

, Interpretation, AACSB: Ethics, Learning Objective: LO1.1, Solution: Attestation services (under

the umbrella of assurance services) include review of historical financial statements, review of

financial forecasts, and examination of internal control.




3. Within a U.S. context, the applicable financial reporting framework is typically Generally

Accepted Accounting Principles (GAAP).

A. True

B. False

Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Measurement Analysis and

Interpretation, AACSB: Ethics, Learning Objective: LO1.2, Solution: Within a U.S. context, the

applicable financial reporting framework is typically generally accepted accounting principles

(GAAP).



4. Private companies, or non-issuers, are not required by the U.S. government to have an

annual financial statement audit

A. True

B. False

Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Reporting, AACSB: Analytic,

Learning Objective: LO1.2, Solution: Private companies, or non-issuers, are not required by the

U.S. government to have an annual financial statement audit, but often other interested users,

such as a bank or lender, may request that a private company provide audited financial

statements.




5

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