Quiz 1 - 22. Question : In performing a financial statement...

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20. Question : A review of a company's financial statements by a CPA firm: Student Answer: Is significantly less in scope than an audit and results in a report which provides positive assurance, although not absolute assurance. Is similar in scope to an audit and adds similar credibility to the statements. Concludes with the issuance of a report expressing the CPA's opinion as to the fairness of the statements. Is designed to provide only limited, or moderate assurance. Points Received: 1 of 1 Comments: 21. Question : The Sarbanes Oxley Act included provisions establishing the: Student Answer: Auditing Standards Board. Congressional Auditing Overview Board. Public Company Accounting Oversight Board. Securities and Exchange Commission. Points Received: 1 of 1 Comments:
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Unformatted text preview: 22. Question : In performing a financial statement audit, which of the following would an auditor be least likely to consider? Student Answer: Internal control. Compliance with GAAP. Fairness of the financial statement amounts. Quality of managements' business decisions. Points Received: 1 of 1 Comments: 23. Question : Which of the following is not considered a type of audit? Student Answer: Operational audit. Sufficiency audit. Compliance audit. Financial statement audit. Points Received: 1 of 1 Comments: 24. Question : Internal auditors are most likely to issue a report on which of the following? Student Answer: Annual financial statement reporting. Internal control. Tax compliance. Quarterly financial statement reporting....
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This note was uploaded on 03/11/2011 for the course ACCT 101 taught by Professor Smith during the Spring '11 term at Alamo Colleges.

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Quiz 1 - 22. Question : In performing a financial statement...

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