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Quiz - ACC/490 Auditing Multiple Choice Highlight the best...

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ACC/490 Auditing Multiple Choice Highlight the best answer 1. Which one of the following is among the three components of audit risk? a. incurrence risk b. occurrence risk c. rejection risk d. control risk 2. The Hochfelder Case is important because it limited auditor liability under: 3. Which of the following is an INCORRECT statement concerning one of the field work standards? 4. An auditor would be most likely to issue a “summary of findings” in connection with which one of the following types of services? 5. Making sure that the detail of and accounts receivable file agrees with the general ledger before the file is used to produce confirmations is an example of which of the following audit procedures? a. Confirmation. b. Recalculation. c. Reperformance. d. Vouching. 6. The auditor has some control over: 7. Concerning such matters as the integrity of management, errors, and illegal acts, the auditor should plan the audit with an attitude of: a. cautious mistrust. b. professional skepticism. c. seasoned pessimism. d. adversarial pursuit. 8. Incompatible duties are those that allow an irregularity to be perpetrated:
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9. In making judgments about materiality at the account balance level, the auditor must consider the relationship between it and financial statement materiality. This should lead the auditor to plan the audit to detect misstatements that:
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