Auditing and Assurance Services by Alvin a
Arens 15th Edition Test Bank
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Must auditors always perform tests of controls?
Auditors only need to perform tests of controls in the audit of a private company if they
intend to rely on them. Auditors must always perform tests of controls in the audit of a
Three factors the auditor considers when assessing control risk are: the auditors belief
concerning the effectiveness of internal controls, the results of tests of controls, and the costeffectiveness of a reduced assessed control risk. Identify the combin
The purpose of tests of controls is to provide reasonable assurance that the:
a. accounting treatment of transactions and balances is valid and proper.
b. internal control procedures are functioning as intended.
c. entity has complied with GAAP dis
1. A listing of all the things which the auditor will do to gather sufficient, competent evidence is the:
a. audit strategy.
b. audit program.
c. audit procedure.
d. audit risk model.
2. Shown below (1 through 5) are the five types of tests which auditors
1) The auditor's responsibility section of the standard unqualified audit report states
that the audit is designed to:
A) discover all errors and/or irregularities.
B) discover material errors and/or irregularities.
C) conform to generally accepted
There are three stages of the audit in which analytical procedures are performed. Identify each
of these three stages and, for each stage, discuss the purpose of performing analytical
procedures in that stage. Also indicate in which stage(s) analytical pr