Aca assurance exam - Study guides, Class notes & Summaries
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ACA Assurance - Chapter 1 - Concept and Need for Assurance Exam Questions With Verified Answers
- Exam (elaborations) • 2 pages • 2024
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ACA Assurance - Chapter 1 - Concept and 
Need for Assurance Exam Questions With 
Verified Answers 
Definition: Assurance - answerAn assurance firm's satisfaction as to the reliability of an 
assertion being made by one party for the use of another party. 
Identify: 5 Key Elements of an Assurance Engagement (Hint: Three Sweet Cows Eating Raisins) 
- answer1. Three party relationship (user, responsible party & practitioner) 
2. Subject matter 
3. Suitable criteria 
4. Evidence 
5. Written Report ...
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ACA Assurance Exam Questions With 100% Correct Answers
- Exam (elaborations) • 12 pages • 2024
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ACA Assurance Exam Questions With 
100% Correct Answers 
5 key elements of audit - answer1. 3 party involvement 
2. subject matter (f/s) 
3. suitable criteria (e.g. UK CGC) 
4. evidence 
5. written report 
ISA 200 - what are the objectives of auditors? - answer- obtain reasonable assurance f/s are 
free from material misstatement (fraud or error) 
- express opinion whether f/s prepared in accordance w/ financial reporting framework 
Exemption from statutory audit - answer- CA 2006 exempts small ...
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ACA Accounting and Assurance Exam Questions With Verified Answers
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ACA Accounting and Assurance Exam 
Questions With Verified Answers 
Reasonable Assurance engagement 
1. Evidence Sought 
2. Opinion Given 
3. Example - answer1. Sufficient and Appropriate 
2. Positive Opinion 
3. The financial statements show a true and fair view in all material respects 
Limited Assurance engagement 
1. Evidence Sought 
2. Opinion Given 
3. Example - answer1. Sufficient and appropriate (less intrusive) 
2. negative conclusion 
3. Nothing has come to our attention that makes us ...
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ACA Assurance - Chapter 1 - Concept and Need for Assurance Exam Questions With Verified Answers
- Exam (elaborations) • 2 pages • 2024
- Available in package deal
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- $10.49
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ACA Assurance - Chapter 1 - Concept and 
Need for Assurance Exam Questions With 
Verified Answers 
Definition: Assurance - answerAn assurance firm's satisfaction as to the reliability of an 
assertion being made by one party for the use of another party. 
Identify: 5 Key Elements of an Assurance Engagement (Hint: Three Sweet Cows Eating Raisins) 
- answer1. Three party relationship (user, responsible party & practitioner) 
2. Subject matter 
3. Suitable criteria 
4. Evidence 
5. Written Report ...
-
ACA Assurance Exam Questions With 100% Correct Answers
- Exam (elaborations) • 4 pages • 2024
- Available in package deal
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ACA Assurance Exam Questions With 100% 
Correct Answers 
What's in an audit strategy - answer- broad scope 
- understand the entity 
- understand the accounting systems and internal control systems 
- identifying risk and setting materiality 
- nature, timing and extent of resources necessary 
- mgmt, direction and supervision of audit team 
Audit plan - answer- more detailed 
- nature, timing and extent of the specific audit PROCEDURES required for material issues 
- ensure appropriate attenti...
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ACA Assurance Exam Bundle Questions With 100% Correct Answers.
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ACA Assurance Exam Bundle Questions With 100% Correct Answers.
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ACA – Assurance Exam Questions and Answers 100% Pass
- Exam (elaborations) • 23 pages • 2024
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ACA – Assurance Exam Questions and 
Answers 100% Pass 
What are the five elements of an assurnace engagement? - Answer- Criteria, Report, 
Evidence, Subject matter, Thrid Patry Relationship 
Who is a practitioner? - Answer- The person or party carrying out the assurance 
engagement. 
What are the two types of assurnace engagement identified under the international 
framework for assurnace engagement? - Answer- 1. Resaonable Assurance 
2. Limited Assurance 
What constitues a reasonable assuranc...
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ACA Assurance - Chapter 1 - Concept and Need for Assurance Exam Questions With Verified Answers
- Exam (elaborations) • 2 pages • 2024
- Available in package deal
-
- $10.49
- + learn more
ACA Assurance - Chapter 1 - Concept and 
Need for Assurance Exam Questions With 
Verified Answers 
Definition: Assurance - answerAn assurance firm's satisfaction as to the reliability of an 
assertion being made by one party for the use of another party. 
Identify: 5 Key Elements of an Assurance Engagement (Hint: Three Sweet Cows Eating Raisins) 
- answer1. Three party relationship (user, responsible party & practitioner) 
2. Subject matter 
3. Suitable criteria 
4. Evidence 
5. Written Report ...
-
ACA - Assurance Exam Questions With 100% Correct Answers
- Exam (elaborations) • 13 pages • 2024
- Available in package deal
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- $12.49
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ACA - Assurance Exam Questions With 
100% Correct Answers 
what are audit documentations? - answerRECORD of procedures performed, relevant 
evidence obtained and conclusions reached 
why should assurance providers record their work? - answer- assist audit team to plan and 
perform audit 
- assist relevant members to direct and supervise work 
- enable audit team to be accountable (prove adherence to ISA) 
- retain record of matters to future audits 
- enable experienced auditor to carry out qual...
-
ACA - Assurance Exam Questions With 100% Correct Answers
- Exam (elaborations) • 13 pages • 2024
- Available in package deal
-
- $12.49
- + learn more
ACA - Assurance Exam Questions With 
100% Correct Answers 
what are audit documentations? - answerRECORD of procedures performed, relevant 
evidence obtained and conclusions reached 
why should assurance providers record their work? - answer- assist audit team to plan and 
perform audit 
- assist relevant members to direct and supervise work 
- enable audit team to be accountable (prove adherence to ISA) 
- retain record of matters to future audits 
- enable experienced auditor to carry out qual...
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