Question 1

Which of the following factors influence the risk of material misstatement?

Accepted Answer

A) The business risks. 
B) Management incentives. 
C) IT risks. 
D) All of the above. 
A) The business risks. 
B) Management incentives. 
C) IT risks. 
D) All of the above.

Question 2

Which of the following is a type of control that the PCAOB recommends the auditor to consider in evaluating whether or not the organization has sufficiently addressed fraud risk?

Accepted Answer

A) Controls over significant,unusual transactions,particularly those that result in late or unusual journal entries. 
B) Controls over entries that relate to foreign sales. 
C) Controls over related-party transactions. 
D) Both A and C 
E) All of the above. 
A) Controls over significant,unusual transactions,particularly those that result in late or unusual journal entries. 
B) Controls over entries that relate to foreign sales. 
C) Controls over related-party transactions. 
D) Both A and C 
E) All of the above.

Question 3

Generally accepted auditing standards are the cornerstone for the interpretation of financial accounting.

Accepted Answer

A) True 
 B)False

Which of the following factors influence the risk of material misstatement?

Which of the following is a type of control that the PCAOB recommends the auditor to consider in evaluating whether or not the organization has sufficiently addressed fraud risk?

Generally accepted auditing standards are the cornerstone for the interpretation of financial accounting.

Auditing: Integral to the Economy

The Risk of Fraud and Mechanisms to Address Fraud: Regulation,corporate Governance,and Audit Quality

Internal Control Over Financial Reporting: Managements Responsibilities and Importance to the External Auditors

Professional Liability and the Need for Quality Auditor Judgments and Ethical Decisions

A Framework for Audit Evidence

Planning the Audit: Identifying and Responding to the Risks of Material Misstatement

Specialized Audit Tools: Sampling and Generalized Audit Software

Auditing the Revenue Cycle

Auditing Cash and Marketable Securities

Auditing Inventory, goods and Services, and Accounts Payable: the Acquisition and Payment Cycle

Auditing Long-Lived Assets: Acquisition, use, impairment, and Disposal

Auditing Debt Obligations and Stockholders Equity Transactions

Activities Required in Completing a Quality Audit

Audit Reports on Financial Statements

Advanced Topics Concerning Complex Auditing Judgments

Other Services Provided by Audit Firms

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Exam 5: Professional Auditing Standards and the Audit Opinion Formulation Process

Which of the following factors influence the risk of material misstatement?

Which of the following is a type of control that the PCAOB recommends the auditor to consider in evaluating whether or not the organization has sufficiently addressed fraud risk?

Generally accepted auditing standards are the cornerstone for the interpretation of financial accounting.

Auditing: Integral to the Economy

The Risk of Fraud and Mechanisms to Address Fraud: Regulation,corporate Governance,and Audit Quality

Internal Control Over Financial Reporting: Managements Responsibilities and Importance to the External Auditors

Professional Liability and the Need for Quality Auditor Judgments and Ethical Decisions

A Framework for Audit Evidence

Planning the Audit: Identifying and Responding to the Risks of Material Misstatement

Specialized Audit Tools: Sampling and Generalized Audit Software

Auditing the Revenue Cycle

Auditing Cash and Marketable Securities

Auditing Inventory, goods and Services, and Accounts Payable: the Acquisition and Payment Cycle

Auditing Long-Lived Assets: Acquisition, use, impairment, and Disposal

Auditing Debt Obligations and Stockholders Equity Transactions

Activities Required in Completing a Quality Audit

Audit Reports on Financial Statements

Advanced Topics Concerning Complex Auditing Judgments

Other Services Provided by Audit Firms

Filters