Gaas - Study guides, Class notes & Summaries

AUD CPA Exam Notes 2024/2025 SU 1 - ANS-Engagement Responsibilities Nature of an Attest Engagement - ANS-Gives an assertion or opinion on the material of the responsible party. They only apply to a CPA operating in public practice. Some services require a CPA to disclaim assurance. Attestation Standards - ANS-General Standards (training, proficiency, knowledge). Should be measurable. CPA must maintain independence. Field Work Standards (planning and supervision & sufficient appropriate...

CPA Exam – Audit Exam Review 2024 Independent Auditor's Responsibilities - ANS-Independent Auditor's Responsibilities: performing an audit in accordance with generally accepted auditing standards (GAAS). Management Responsibilities - ANS-Management Responsibilities: responsible for the fair presentation of the financial statements in conformity with GAAP, even if the statements are prepared or audited by CPAs Effective Internal Control - ANS-Management is also responsible for establis...

MODULE C--- #1 Legal Concepts--- Legal EnvironmentAuditors > Client: 1. Performs services in accordance with contract 2. Conduct a GAAS audit Auditors > 3rd Party user of FS 1. Issues auditor's report Client > 3rd Party user of FS 1. Rely on audited FS in making economic decisions "Deep Pockets" theorythe concept that lawsuits may be brought against auditors not because they are necessarily at fault, but because they are the only party with resources against which recove...

Audit Chapter 2 Test Questions and Revised Answers All Correct The auditors' report for a nonpublic company should indicate: A. That the audit was made in accordance with auditing standards generally accepted in the United States of America. B. Any weakness in internal control observed by the auditors. C. That accounting principles have been consistently applied. D. That no illegal acts have been identified. - Answer-A. That the audit was made in accordance with auditing standards gene...

Asymmetry seldom occurs correct answers False The basic definition of auditing states it is a process to: correct answers A. Objectivley obtain and evaluate evidence regarding assertions Evidence is reliable if it: correct answers A. signals the true state of a management assertion During the final phases of an audit, a CPA most likely would: correct answers C. Evaluate the integrity of management Which of the following best describes why publicly- traded corporations follow the prac...

(immobilization) without normal stresses, - ligaments and bones become weaker as well 1 MHz setting vs. 3 MHz setting of US - 1 MHZ is for deeper tissue 3 MHz is for more superficial tissue 2 essential elements in improving neuromuscular control - proprioception and kinesthesis 2 types of low-lever lasers - helium neon (HeNe) gallium arsenide (GaAs) 3 components of female athlete triad - disordered eating, amenorrhea, osteoporosis 3 phases of the healing process - inflammatory phase fibr...

AWS - Certified Cloud Practitioner (CLF-C01) / Multiple Choices. Exam Review questions and answers, verified. Which of the following is not a common cloud characteristic as defined by the NIST? * On-demand self-service * Measured service * Broad network access * Dedicated hardware - -Dedicated hardware What is the term commonly used for the cloud's capability to scale outward and inward automatically based on demand? * Agility * Reliability * Elasticity * Fault tolerance - -Elasti...

Test Bank For Auditing Theory 2024 AUE2601-Auditing Theory And Practice EXAM PACK (SUMMARISED NOTES AND PAST PAPERS Up to 2024). Chapter 01 Auditing and Assurance Services Multiple Choice Questions 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 2. To be proficient as an auditor, a per...

Name the elements of a CPA firm's system of quality control for its auditing, attest, and accounting and review services. correct answers "Quality control will HELP ME!" Human resources Engagement/client acceptance & continuance Leadership responsibilities Performance of the engagement Monitoring Ethical requirements What are the objectives of an auditor when implementing quality control procedures at the engagement level? correct answers Provide reasonable assurance: 1. that the au...

Gleim's CPA Test Prep Auditing [1] Which of the following is required documentation in an audit in accordance with generally accepted auditing standards? A. A flowchart or narrative of the accounting system describing the recording and classification of transactions for financial reporting. B. An audit program setting forth in detail the procedures necessary to accomplish the engagement's objectives. C. A planning memorandum establishing the timing of the audit procedures and coordinating the ...