MULTIPLE CHOICE QUESTIONS FROM CPA
6-19 (Objective 6-1) The following questions concern the reasons auditors do audits.
Choose the best response.
(2) Different interests may exist between the company preparing the
statements and the persons
We also have the Institute of Internal Auditors (IIA). Started
on 1941, The functions of IIA are:
1. To make the Internal Auditing, a dignified profession.
2. Educating the practitioners and other relevant audiences
the best practices in Internal Auditing
The ACFE is the world's largest anti-fraud organization and premier
provider of anti-fraud training and education The Certified Fraud
Examiner (CFE) credential denotes proven expertise in fraud
prevention, detection and deterrence. CFEs around the world h
There are many differences between IAASB Auditing Standards
and US PCAOB Standards. They are :
1. International Standards do not require an audit of
Internal Controls while PCAOB Standards, do so require.
2. International Standards for documentation are l
AICPA = GAAP + GAAS + More
Sufficient evidence of consistency = no reference needed
Positive Confirmation for Material A/R
Negative Confirmation for Immaterial A/R
Sufficient appropriate audit evidence to afford a reasonable basis for the opi
Deficiencies in Broker-Dealer Audits under PCAOB Standards
The first five inspections of broker-dealer audit and new attestation
engagements subject to PCAOB standards show deficiencies in the
auditors' application of these standards, the Public Company