Chapter_16 - Chapter 16 Student 1 Which of the following is...

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Chapter 16 Student: ___________________________________________________________________________ 1. Which of the following is not an assurance engagement? A. A review of historical financial information. B. An audit of the effectiveness of internal control. C. A performance audit. D. A consulting engagement to help an organisation meet its tax obligations. 2. Reasonable assurance is provided by: A. a review engagement. B. an audit engagement. C. an assurance engagement. D. an agreed-upon procedures engagement. 3. A review engagement provides: A. reasonable assurance. B. high but not absolute assurance. C. low assurance. D. limited assurance. 4. In performing an assurance service, an auditor typically: 5. The objective of assurance services is best described as:
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6. Assurance services are best described as: A. the expression of an opinion on the truth and fairness of a general purpose financial report. B. the preparation of a financial report based on the assumptions of a responsible party. C. independent professional services that improve the quality of information or its context, for decision makers. D. services designed for the improvement of operations, resulting in better outcomes. 7. Which of the following best describes an auditor's report on a supplementary financial report prepared in accordance with a price-level basis of accounting that has substantial support? 8. Which of the following statements, with respect to the auditor's report providing an opinion on a specific item on a financial report is correct? A. Such a report can only be provided if the auditor is also engaged to audit the entire financial report. B. Materiality must be related to the specified item rather than to the financial report taken as a whole. C. The auditor who has issued an adverse opinion on the financial report taken as a whole can never express an opinion on a specified item in that financial report. D. The attention devoted to the specific item is usually less than it would be if the financial report taken as a whole were being audited.
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