Chap020 - Chapter 20 - Additional Assurance Services: Other...

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Chapter 20 - Additional Assurance Services: Other Information Chapter 20 Additional Assurance Services: Other Information True / False Questions 1. Assurance services improve the quality of information or its context for decision makers. True False 2. Attestation services are similar, but go beyond assurance services in scope of procedures and reporting. True False 3. Independence is required for the performance of all assurance services. True False 4. Practitioners may report on either an assertion about the subject matter, or on the subject matter for most attestation engagements. True False 5. Attestation risk, like audit risk consists of three components--inherent risk, control risk, and substantiation risk. True False 6. The attestation standards prohibit the examination of prospective financial statements. True False 7. A practitioner may be engaged to perform a review of management's discussion and analysis for an annual or an interim period. True False 20-1
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Chapter 20 - Additional Assurance Services: Other Information 8. A WebTrust seal assures consumers that they will be satisfied with their purchases. True False 9. Trust Services are a part of the AICPA's vision that increased trust in annual historical financial statements is necessary. True False 10. SysTrust engagements relate only to database systems. True False Multiple Choice Questions 11. Which of the following is least likely to be included in an agreed-upon procedures attestation engagement report? A. The specified party takes responsibility for the sufficiency of procedures. B. Use of the report is restricted. C. Limited assurance on the information presented. D. A summary of procedures performed. 12. Conditions exist that result in a material deviation from the criteria against which the subject matter was evaluated during an examination performed following the attestation standards. The CPA's conclusion may be on: A. Option A B. Option B C. Option C D. Option D 20-2
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Chapter 20 - Additional Assurance Services: Other Information 13. Suitable criteria in an attestation engagement may be available: A. Option A B. Option B C. Option C D. Option D 14. When performing an attestation examination engagement, which of the following is not always required? A. Assertion. B. Practitioner independence. C. Subject matter. D. Suitable criteria. 15. Which of the following engagements is most likely to consider availability, security, integrity, and maintainability of a company's computer systems? A. Internal control over financial reporting. B. Trust Services. C. Website Asssociate. D. Financial statement audit. 16. Which of the following are Trust Services principles? A. Option A B. Option B C. Option C D. Option D 20-3
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Chapter 20 - Additional Assurance Services: Other Information 17. Which of the following is the least likely to be considered subject matter of an attestation engagement?
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Chap020 - Chapter 20 - Additional Assurance Services: Other...

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