MODA - Module A - Other Public Accounting Services Module A...

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Module A - Other Public Accounting Services Module A Other Public Accounting Services Multiple Choice Questions 1. The AICPA Special Committee on Assurance Services identified eight megatrends that can affect CPAs' business. Which of the following is NOT one of the megatrends they identified? A. Increased competition among CPA and non-CPA service providers B. Aging of the U.S. population C. Globalization of trade D. Merging of corporations creating fewer audit opportunities Difficulty: Easy Source: Original 2. According to the AICPA Special Committee on Assurance Services, assurance services are independent professional services that A. Establish criteria for effective measurement of business activity B. Improve the quality of information, or its context, for decision makers C. Attest to the adequacy of controls over business operations D. Develop efficient and effective accounting systems to ensure compliance with accounting standards and policy Difficulty: Easy Source: Original 3. The difference between assurance services and attestations is that assurance services are A. More customized and intended to be used by a smaller group of decision makers B. Designed to focus on specific elements of financial statements of interest to selective financial statement users C. Build on competencies of the CPA outside of accounting and other traditional accounting services D. Directed at the management of the client to inform them of global issues that may affect their business Difficulty: Easy Source: Original MODA-1
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Module A - Other Public Accounting Services 4. Many individuals are apprehensive about using the Internet to purchase items. This apprehension mainly arises from users' concerns about A. The reliability of computer technology B. The time delays in Internet purchases C. A lack of security for information transmitted over the Internet D. The lack of CPA involvement in Internet company financial information Difficulty: Medium Source: Original 5. The phrase "Trust services" refers to A. WebTrust and SysTrust Services B. PrimePlus and SysTrust Services C. WebTrust and PrimePlus Services D. All AICPA designated assurance services Difficulty: Easy Source: Original 6. Which of the following is NOT a principle of Trust Service engagements? A. Security from unauthorized use B. Availability of the system, products, or services C. Proficiency in preparing transactions D. Confidentiality of information Difficulty: Medium Source: Original MODA-2
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Module A - Other Public Accounting Services 7. What is the appropriate name for an assurance service provided by a CPA regarding a client's commercial Internet site with reference to the principles of privacy, security, processing integrity, availability, and confidentiality? A.
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MODA - Module A - Other Public Accounting Services Module A...

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