Chapter_12 - Chapter 12 Student 1 A B C D Analytical...

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Chapter 12 Student: ___________________________________________________________________________ 1. Analytical procedures used in the overall review stage of an audit generally include: A. testing transactions to corroborate management's financial report assertions. B. considering unusual or unexpected amount balances that were not previously identified. C. retesting control procedures that appeared to be ineffective during the assessment of control risk. D. gathering evidence concerning account balances that have not changed from the prior year. 2. An auditor should obtain evidential matter relevant to all the following factors concerning third-party litigation against a client except the: A. period in which the underlying cause for legal action occurred. B. probability of an unfavourable outcome. C. jurisdiction in which the matter will be resolved. D. existence of a situation indicating an uncertainty as to the possible loss. 3. An auditor is concerned with completing various phases of the examination after the balance date. This 'subsequent period' for audit testing extends to the date of the: A. final review of the audit working papers. B. auditor's report. C. delivery of the auditor's report to the client. D. public issuance of the financial report. 4. A major customer of an audit client suffers a fire just prior to completion of year-end fieldwork. The audit client believes that this event could have a significant direct effect on the financial report. The auditor should:
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5. Which of the following procedures would an auditor most likely perform to obtain evidence about the occurrence of subsequent events? 6. Which of the following procedures would an auditor most likely perform to obtain evidence about the occurrence of subsequent events? 7. After an auditor has issued an auditor's report on the financial report of a non-public entity, there is no obligation to make any further audit tests or inquiries with respect to the audited financial report covered by that report unless: A. new information comes to the auditor's attention concerning an event that occurred prior to the date of the auditor's report that may have affected the auditor's report.
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