An independent auditor must have which of the following A A pre existing and

An independent auditor must have which of the

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60.An independent auditor must have which of the following? A. A pre-existing and well-informed point of view with respect tothe auditB.Technical training that is adequate to meet the requirements of a professionalC. A background in many different disciplinesD. Experience in taxation that is sufficient to comply with generally accepted auditing standardsAACSB: AnalyticAICPA: BB IndustryAICPA: FN Decision MakingAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 2 MediumLearning Objective: 02-02 Describe the fundamental principle of responsibilities and how this principle relatesto the characteristics and qualifications of auditors.Source: AICPATopic: Fundamental Principle: Responsibilities2-57
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61.What type of evidence would provide the highest level of assurance in an attestation engagement? A. Evidence secured solely from within theentityB.Evidence obtained from independent sourcesC. Evidence obtained indirectlyD. Evidence obtained from multiple internal inquiriesAACSB: AnalyticAICPA: BB IndustryAICPA: FN Decision MakingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 02-03 Describe the fundamental principle of performance and identify the major activitiesperformed in an audit.Source: AICPATopic: Fundamental Principle: Performance62.Which of the following is an important consideration during the planning of the audit? A. Considering the independence of members of the audit teamB.Performing some of the audit procedures prior to the end of the year under auditC. Considering the ability and expertise of the audit team with respect to accounting and auditing issues in the client's industryD. Considering the impact of tests of controls on the overall assessment of control riskAACSB: AnalyticAICPA: BB IndustryAICPA: FN Decision MakingAccessibility: Keyboard NavigationBlooms: ApplyDifficulty: 2 MediumLearning Objective: 02-03 Describe the fundamental principle of performance and identify the major activitiesperformed in an audit.Source: OriginalTopic: Fundamental Principle: Performance2-58
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63.The initial development of auditing standards was in response to A.a scandal involving embezzlement that was not detected during an audit engagement.B. auditors' concerns that all components of the financial statements were not being verified.C. independent inquiries of the public accounting profession made bythe SEC.D. requests by companies for greater assurance with respect to the auditors' ability to detect financial statement misstatements.AACSB: AnalyticAICPA: BB IndustryAICPA: FN Decision MakingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 02-01 Understand the development and source of generally accepted auditing standards.
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