Ch12-Acct for Gov and NonProfit Ent 15e

Ch12-Acct for Gov and NonProfit Ent 15e - COURSES >...

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Add, modify, and remove questions. Select a question type from the Add Question drop-down list and click Go to add questions. Use Creation Settings to establish which default options, such as feedback and images, are available for question creation. COURSES > ACCOUNTING FOR GOVERNMENTAL AND NONPROFIT ENTITIES:, 15/E - WILSON > CONTROL PANEL > POOL MANAGER > POOL CANVAS Pool Canvas Add Multiple Choice Creation Settings Name Chapter 12 Auditing of Governmental and Not-for-Profit Organizations Description Questions which Blackboard's assessment component is incapable of supporting are not included in the export. Instructions Add Question Here Question 1 True/False Question The AICPA's suite of risk assessment audit standards requires that auditors conduct a more rigorous assessment of the risk of material misstatement of the client's financial statements. Answer True False Correct Feedback This is one of the requirements of the risk assessment standards, among others, discussed in Chapter 12. The risk assessment standards provide guidance to auditors in using a risk-based model for planning and executing audits. Incorrect Feedback This is one of the requirements of the risk assessment standards, among others, discussed in Chapter 12. The risk assessment standards provide guidance to auditors in using a risk-based model for planning and executing audits. Add Question Here Question 2 True/False Question The introductory paragraph of an audit report introduces the auditor and his/her background and qualifications to perform the auditor. Answer True False Correct Feedback This item might seem to make sense. However, as explained in Chapter 12 the introductory paragraph identifies the financial statements being audited and indicates that the financial statements are the responsibility of management, not the auditor. Incorrect Feedback This item might seem to make sense. However, as explained in Chapter 12 the introductory paragraph identifies the financial statements being audited and indicates that the financial statements are the responsibility of management, not the auditor. Add Question Here Question 3 True/False Question The scope paragraph of an audit report identifies the audit standards used in performing the audit and describes any limitations imposed on the audit. Answer True False Correct Feedback This closely paraphrases the discussion of the scope paragraph in Chapter 12. Incorrect Feedback This closely paraphrases the discussion of the scope paragraph in Chapter 12. Add Question Here Question 4 True/False Question The opinion paragraph of the independent auditor's standard report states the auditor's opinion that the financial statements are free of errors.
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This note was uploaded on 09/25/2011 for the course ACCT 3000-5000 taught by Professor Faker during the Spring '11 term at Texas Woman's University.

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Ch12-Acct for Gov and NonProfit Ent 15e - COURSES >...

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