Chapter25 - final

Auditing and Assurance Services (12th Edition)

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 25 Multiple-Choice Questions 1. easy d The standards which govern the CPA’s association with unaudited financial statements of private companies are the: a. AICPA’s Code of Professional Conduct. b. Statements on Auditing Standards (SASs). c. Statements of Standards on Attestation Engagements (SSAEs). d. Statements on Standards for Accounting and Review Services (SSARS). 2. easy b The two types of services provided in connection with the Statements on Standards for Accounting and Review Services are: a. audit and examination services. b. compilation and review services. c. examination and review services. d. management advisory services and compilations. 3. easy c Statements on Standards for Attestation Engagements are established by the: a. Securities and Exchange Commission. b. Public Company Accounting Oversight Board. c. Auditing Standards Board. d. None of the above. 4. easy c Because the same CPA firm does both the annual audit and the public company interim financial statement review, they are referred to as _______. a. bookkeepers b. accountants c. auditors d. CPAs 5. easy b Practitioners who perform reviews and compilations are referred to in the SSARS standards as: a. bookkeepers. b. accountants. c. auditors. d. CPAs. 6. easy c A(n) _______ results in a conclusion that is in a positive form. a. review b. compilation c. examination d. none of the above 7. easy a Compilation reports may be of all but which of the following types? a. Compilation with limited independence. b. Compilation with full disclosure c. Compilation without independence. d. Compilation that omits substantially all disclosures. 25-1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
8. easy c An examination results in a conclusion that is in a(n) _______ form. a. limited assurance b. negative c. positive d. unequivocal 9. easy d A CPA firm can issue a compilation report: a. only if the partners are independent. b. only if all the partners and the staff in the office performing the engagement are independent. c. if the partners have no material or direct immaterial interest in client. d. even if it is not independent. 10. easy b Which of the following meets the attestation standards’ definition of an examination? a. Preparing a corporation’s annual tax returns. b. An audit of the financial statements. c. A review of the financial statements. d. A compilation of the financial statements. 11. easy a Which of the following would not be included in a CPA’s report based upon a review of the financial statements of a nonpublic entity? a. A statement that the review was in accordance with generally accepted auditing standards. b. A statement that all information included in the financial statements is the representation of management. c.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This document was uploaded on 09/12/2010.

Page1 / 17

Chapter25 - final - CHAPTER 25 Multiple-Choice Questions 1....

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online