Quiz # 3 Subject: Date: Student:
Auditing and Assurance Service
1. What five circumstances are required for a standard unqualified report to be issued?
2. Distinguish between an unqualified report with an explanatory paragraph or modified wording and a qu
Subject: Introduction to Audit Date:
Quiz # 1 Student:
1. What are the major differences in the scope of the audit responsibilities for CPAs, GAO auditors, IRS agents, and internal auditors?
2. What are the differences and similarities in audits of financ
Introduction to audit
Quiz # 10
Which of the following parties is responsible for establishing an entitys internal controls? a. Management. c. Auditors. b. Management and auditors. d. Committee of Sponsoring Organizations. Which of the fol
Which of the following is least likely to be appropriate as the basis for determining the preliminary judgment about materiality in the audit of a set of financial statements? a. Net income before taxes. b. Current assets. c. Owners equity. d. Inventory.
Quiz # 8 Introduction to audit
Which of the following is not one of the three main reasons why the auditor should properly plan engagements? a. To enable proper on-the-job training of employees. b. To enable the auditor to obtain sufficien
Introduction to Audit Quiz # 7
Which of the following forms of evidence is most reliable? a. General ledger account balances. b. Confirmation of A/R balance received from a customer. c. Internal memo explaining the issuance of a credit mem
Quiz # 2 Subject: Date: Student:
Introduction to Audit
1. Describe the role of the SEC in society and discuss its relationship with and influence on the practice of auditing.
The purpose of the Securities and Exchange Commission is to assist in providing