Chapter 1 HW (1-16;1-21)
a. (p.12 Figure 1-3)
Audit services: A report by a professional CPA expressing his or her opinion as to whether or
not a financial statement audited by him/her is both true and fair regarding the state of affairs of
Chapter 2 HW (2-16, 2-21)
a. Which of the following best describes what is meant by U.S. auditing standards?
1) Acts to be performed by the auditor.
2) Measures of the quality of the auditors performance.
3) Procedures to be used to gather evidence
Discuss the four primary purposes of analytical procedures performed during the planning phase
of an audit:
Accept client and perform initial audit planning
Understand the clients business and industry
Assess client business risk
Perform preliminary analy
Audit Test 1
1-5 From Text and Becker HW
6) Qualified opinion
Can be used for a scope limitation or departure from GAAP, but only when the auditor
concludes that the overall financial statements are fairly stated.
7) Sarbanes-Oxley and Securities Excha