Question 1

Which of these is not a reform introduced by CLERP 9.in relation to Auditors and annual general meetings (AGMs)?

Accepted Answer

A)  shareholders can submit written questions to the auditor before the AGM relating to the auditor's report and the conduct of the audit. 
B)  the auditor must attend the AGM. 
C)  the auditor must address the AGM. 
D)  a reasonable opportunity must be allowed for members as a whole to ask questions of the auditor and for the auditor to respond. 
A)  shareholders can submit written questions to the auditor before the AGM relating to the auditor's report and the conduct of the audit. 
B)  the auditor must attend the AGM. 
C)  the auditor must address the AGM. 
D)  a reasonable opportunity must be allowed for members as a whole to ask questions of the auditor and for the auditor to respond.

Question 2

The body that is responsible for setting the auditing standards in Australia is:

Accepted Answer

A)  AUASB. 
B)  AASB. 
C)  IAASB. 
D)  FRC. 
A)  AUASB. 
B)  AASB. 
C)  IAASB. 
D)  FRC.

Question 3

Under ASA 200/ IAS 200 the primary objective of a financial report audit is to:

Accepted Answer

A)  ensure that the company is free from all fraud 
B)  provide assurance about the future viability of the entity 
C)  to express an opinion as to whether the financial report is prepared in all material aspects, in accordance with a financial reporting framework 
D)  ensure the company complies with all aspects of Corporations Law 
A)  ensure that the company is free from all fraud 
B)  provide assurance about the future viability of the entity 
C)  to express an opinion as to whether the financial report is prepared in all material aspects, in accordance with a financial reporting framework 
D)  ensure the company complies with all aspects of Corporations Law

Question 4

It is not a requirement to be registered as an auditor in Australia to:

Accepted Answer

A)  be a fit and proper person 
B)  be a member of CPA Australia, the ICAA or other approved body. 
C)  have a degree or diploma from a course in accounting (including auditing) of not less than 3 years duration and in commercial law(including company law) of not less than 2 years duration or have other equivalent qualifications acceptable to ASIC. 
D)  all are requirements to be registered as an auditor in Australia. 
A)  be a fit and proper person 
B)  be a member of CPA Australia, the ICAA or other approved body. 
C)  have a degree or diploma from a course in accounting (including auditing) of not less than 3 years duration and in commercial law(including company law) of not less than 2 years duration or have other equivalent qualifications acceptable to ASIC. 
D)  all are requirements to be registered as an auditor in Australia.

Question 5

The auditing and accounting body with the highest number of members is:

Accepted Answer

A)  The National Institute of Accountants 
B)  CPA Australia 
C)  The Institute of Chartered Accountants in Australia 
D)  The International Federation of Accountants 
A)  The National Institute of Accountants 
B)  CPA Australia 
C)  The Institute of Chartered Accountants in Australia 
D)  The International Federation of Accountants

Question 6

Describe the principal - agent relationship and how it is used to explain the development of auditing.

Accepted Answer

When one or more of the principals engag

Which of these is not a reform introduced by CLERP 9.in relation to Auditors and annual general meetings (AGMs)?

The body that is responsible for setting the auditing standards in Australia is:

Under ASA 200/ IAS 200 the primary objective of a financial report audit is to:

It is not a requirement to be registered as an auditor in Australia to:

The auditing and accounting body with the highest number of members is:

Describe the principal - agent relationship and how it is used to explain the development of auditing.

Governance and the Auditor

Professional Ethics, Independence and Audit Quality

Other Assurance Engagements and Quality Standards

The Auditors Legal Liability

Overview of the Audit Financial Statements

The Auditors Report

Client Evaluation and Planning the Audit

Audit Risk Assessment

Materiality and Audit Evidence

Tests of Controls

Designing Substantive Procedures

Audit Sampling

Auditing Sales and Receivables

Auditing Purchases, Payables and Payroll

Auditing Inventories and Property, Plant and Equipment

Auditing Cash and Investments

Completing the Audit

Filters

Exam 1: An Overview of Auditing

Which of these is not a reform introduced by CLERP 9.in relation to Auditors and annual general meetings (AGMs)?

The body that is responsible for setting the auditing standards in Australia is:

Under ASA 200/ IAS 200 the primary objective of a financial report audit is to:

It is not a requirement to be registered as an auditor in Australia to:

The auditing and accounting body with the highest number of members is:

Describe the principal - agent relationship and how it is used to explain the development of auditing.

Governance and the Auditor

Professional Ethics, Independence and Audit Quality

Other Assurance Engagements and Quality Standards

The Auditors Legal Liability

Overview of the Audit Financial Statements

The Auditors Report

Client Evaluation and Planning the Audit

Audit Risk Assessment

Materiality and Audit Evidence

Tests of Controls

Designing Substantive Procedures

Audit Sampling

Auditing Sales and Receivables

Auditing Purchases, Payables and Payroll

Auditing Inventories and Property, Plant and Equipment

Auditing Cash and Investments

Completing the Audit

Filters