Acc403 - Study guides, Class notes & Summaries

Non-statistical sampling _______. - may only be used for publicly traded companies with market capitalizations of less than a certain threshold - involves any sample selection and evaluation method that does not have the characteristics of statistical sampling. - may only be used for publicly traded companies with market capitalizations above a certain threshold - involves any sample selection and evaluation method that has the characteristics of non-statistical sampling. - involves ...

Non-statistical sampling _______. - may only be used for publicly traded companies with market capitalizations of less than a certain threshold - involves any sample selection and evaluation method that does not have the characteristics of statistical sampling. - may only be used for publicly traded companies with market capitalizations above a certain threshold - involves any sample selection and evaluation method that has the characteristics of nonstatistical sampling. involves any ...

A primary objective of procedures performed to obtain an understanding of internal control is to provide an auditor with a. Information necessary to prepare flowcharts. b. A basis from which to modify tests of controls. c. Knowledge necessary to assess the risk of misstatement. d. Audit evidence to use in reducing detection risk c. Knowledge necessary to assess the risk of misstatement. In obtaining an understanding of an entity's internal control relevant to audit planning, an audit...

Which AICPA Conduct Rule applies only to members in the practice of public accounting? a. General Standards b. Accounting Principles c. Independence d. Compliance with Standardsc. Independence

3 assertions that are likely to present the most risk:occurrence, existence, valuation 3 main important control activities in the revenue cycle1. three-way match 2. pre-numbering of documents 3. sales invoice 3 main segregation of duty categoriescustody, authorization, recording 3 objectives of internal controlreliability of financial reporting, effectiveness and efficiency of operations, compliance with applicable laws and regulations

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Non-statistical sampling _______. - may only be used for publicly traded companies with market capitalizations of less than a certain threshold - involves any sample selection and evaluation method that does not have the characteristics of statistical sampling. - may only be used for publicly traded companies with market capitalizations above a certain threshold - involves any sample selection and evaluation method that has the characteristics of nonstatistical sampling. involves any ...

A primary objective of procedures performed to obtain an understanding of internal control is to provide an auditor with a. Information necessary to prepare flowcharts. b. A basis from which to modify tests of controls. c. Knowledge necessary to assess the risk of misstatement. d. Audit evidence to use in reducing detection risk c. Knowledge necessary to assess the risk of misstatement. In obtaining an understanding of an entity's internal control relevant to audit planning, an audit...

Which AICPA Conduct Rule applies only to members in the practice of public accounting? a. General Standards b. Accounting Principles c. Independence d. Compliance with Standardsc. Independence The AICPA Code of Professional Conduct a. prohibits encroachment on the practice of another CPA b. prohibits offers of employment to employees of another CPA without notice c. expects the CPA to honor the public trust d. encourages but does not require CPAs to refrain from advertising or engaging...

3 assertions that are likely to present the most risk:occurrence, existence, valuation 3 main important control activities in the revenue cycle1. three-way match 2. pre-numbering of documents 3. sales invoice 3 main segregation of duty categoriescustody, authorization, recording 3 objectives of internal controlreliability of financial reporting, effectiveness and efficiency of operations, compliance with applicable laws and regulations 3 parts of employee fraud1. fraudulent act 2. conve...