Cl l no consijcre0 a outficient basis or saint to

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cl. l." no': consiJ.c;re0 a. outficient basis ~or Saint to cr.mclude that dl~ expense.s have 'oeeu recorded. ··o. Thi:; ref:ers to !;he a•1rlit procecl.ures deemed necessary in the cir~u.'1lstances to ac:hieve the obje...:tL,~e of the review. c.. Scope of E,n ·audit. c. .;,uctit program. b. Scooe cf a review. d, Scope limitc.ticn. 71. Th,' folloHing .:..re loqi~-~1 furoctions ot n. CPA itl put.lic acco1:nting pract.lce: Attest function (l~e., audits, revie·..;s) Tax praccice. !tax ~la~2in0, tax co:npl.'.ance) M~nagement consulting services !r.t:~c:rna} audit A Yes Yes Yes Yes B Yes Ye.s Yes No Yes Yes r; Yes No Yes No ..
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·">.j ~ -:2. In p.Lar..ning an audj_t, t:.h.e auditor shc..uld coiL~ider t•he presence of frauc'. risk fac:tors relc.. cing to lllisst:at:ements ·arising from ( 1) £raudul-=nt fJ.r1ancial n.,po.:t.; ~g a11d { 7) mi3ilppiopria tioTJ. o-f asset . .::;. In v>hic.:h of the folJ.ow::..ng situations would t.hf' audit0r most: likely presume tl'.at ., high risll. of defalcati')Il e>~.ists? a. ABC Company i::: a multinational compar.y tha<;:. does bu:>ines.s in ~ariou~ countries in the A~i~-Pacific ri~. b. c. ct. DEF Company does business with Lelatf'd parties• GHI Company has 3. ·cashi_,~r 1-1:'1o al.sc ha!1dles account.ing dut~orization functions. MNO Company ic.: in an inc~ust:::~· wherE: tJ:-.e ratE:! of change is ~ slow. and very 73. An audito.L lJelieves '::.hat an u:J.derstanuinq with the clien+-. ~as not 74. been established. In this case, the au~itor should ordinarily: o.. Pertonn the engagement 'll.:i.':h r~newed ,prof~ssional skeptic.!..<>n. b. ::Jecline to accept or :2er£orm t.h.:: t>nq~.<;:em211t. c. Asse::;.> ...:cmtr.ol risk"' at: a hiGH levt:.l ar,d rely J?rirrari:!.y on sul:;.s·cantive nudit p..:-oce.:dcres. d. Modify the usses::;m~nt of rlsk d~e tc traud. Th~ fol.lovling stateme!1ts ;::elate to :KJI.'J298. \~hich statenent is correct') ----- a. The Boa1.d Acco•.mt arcy ehns the author;.ty to rem:;ve, a:I:U:!J. due. Professional Rtgulqtion Commission b. c. proc-ess, 2ny member of t:.he for ;-;egL.yence, in.compet<'l!C-:! or any ether ju::;t ·cause. 'l'hr: .functions 0f t!-.P. Board ·cf Acc.~untancy .:tncl :1cle the preparat~ un of th~ coPtents of the C2A l.icensu.-:e e:.<arn..:.n.'J.t:'..on and the rati~g of ex~mination paper~.' J\fter two years, st~bject·. t1) cert'lin conditivns, the Board cf ACC('\lDcanc..:y must urde.c th-= r.ein:::tatemen'i:: of· C\ C:PA whose c~rtificate of regiEtr~tion has be~n revoked. Iu:>;:tnity is a g.:.-ound for iss~ing a certifica·te of registration to a successful CPA ca~1didate.
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