Lecture 1 – Chapter 1 all

Of a bank loan agreement relating to interest

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Unformatted text preview: enance of predetermined financial ratios is an example of: a) b) c) d) A performance engagement A compliance engagement A prospective financial information engagement An accomplishment engagement Q 24. Four of the element in the five element assurance model that applies to an audit of financial reports are; subject matter, suitable criteria evidence gathering and written assurance report. The fifth missing elements is: a) b) c) d) Code of ethics Tree-part relationship Control procedures Audit professional Q 25. APES 110 formulates the fundamental ethical principles for professional accountants. These principles are: a) b) c) d) Integrity, objectivity, professional competence and due care and conidenttiality Professional behavior and technical standards Honesty, professional judgment, discretion, independence, technical competence a and b Q 26. Which of these is not a special purpose report? a) A report prepared by a non-reporting entity b) A report prepared by a not-for profit organization in accordance with the reporting provisions of an applicable State Act c) A report prepared to meet the requirements of a stock exchange d) All are special purpose reports Lecture 2 Chapter 3 Q 1. Potential employment with a client is a kind of ______ threat to audit independence. a) Self- interest b) Advocacy c) Familiarity d) Intimidation Q 2. After the passing of the CLERP 9 Act the body that is responsible for the surveillance, investigation and enforcement of the regulatory requirement for auditor independence is: a) ASIC b) FRC c) AUASB d) IFAC Q 3. Which body has the power to cancel or suspend the registration of an auditor? a) CPA Australia b) ICAA c) The Companies Auditors and Liquidators Disciplinary Board d) None of the above Q 4. Attributes Greenwood considers to be characteristic of a profession are: a) A systematic body of theory; authority; community sanction; ethical codes b) Community sanction; ethical codes; culture c) A systematic body of theory; authority; community sanction; ethical codes; culture d) Community sanction; ethical codes; rules of law; culture Q 5. Ethics focuses on a study of: a) Choices, standards and behavior b) Alternative choices and selecting the most appropriate for the time c) Choices, standards and the law d) a and b Q 6. The practice of ethical behavior requires: a) An understanding of ethical issues b) A framework within which a responsible decision can be made c) An awareness of the consequences of such decisions d) All of the above Q 7. The ethical theory of teleology is: a) A...
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This document was uploaded on 09/17/2013.

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