Question 1

Whether the system is protected against unauthorized physical and logical access defines:

Accepted Answer

A)  system security. 
B)  system availability. 
C)  system integrity. 
D)  system verifiability. 
E)  system maintainability. 
A)  system security. 
B)  system availability. 
C)  system integrity. 
D)  system verifiability. 
E)  system maintainability. A

Question 2

The SSARS review service was originally developed as a lower-cost and lower-assurance alternative to an audit of the financial statements of public entities.

Accepted Answer

A) True 
 B)False  False

Question 3

CPA Performance View is a system that merges the standard financial measures with leading indicators.

Accepted Answer

A) True 
 B)False  True

Question 4

Complete the schedule of SysTrust principles and criteria shown below.

Accepted Answer

The answer of Complete the schedule of SysTrust principles and...

Question 5

SSARS is available to both public and nonpublic entities.

Accepted Answer

A) True 
 B)False

Question 6

In performing an attest engagement, a CPA performs all of the following except:

Accepted Answer

A)  relies on management statements. 
B)  gathers evidence to support the assertions. 
C)  objectively assesses the measurements of assertions. 
D)  objectively assesses the communications of the individual making the assertions. 
E)  reports the findings. 
A)  relies on management statements. 
B)  gathers evidence to support the assertions. 
C)  objectively assesses the measurements of assertions. 
D)  objectively assesses the communications of the individual making the assertions. 
E)  reports the findings.

Question 7

In the balanced scorecard approach to performance measurement, revenue goals relate to the:

Accepted Answer

A)  financial perspective. 
B)  internal perspective. 
C)  managerial perspective. 
D)  innovation perspective. 
E)  customer perspective. 
A)  financial perspective. 
B)  internal perspective. 
C)  managerial perspective. 
D)  innovation perspective. 
E)  customer perspective.

Question 8

Whether the entity maintains effective controls to provide reasonable assurance that private customer information obtained as a result of e-commerce is protected from uses not related to the entity's business defines:

Accepted Answer

A)  transaction integrity. 
B)  information protection. 
C)  risk assessment. 
D)  performance measurement. 
E)  ElderCare services. 
A)  transaction integrity. 
B)  information protection. 
C)  risk assessment. 
D)  performance measurement. 
E)  ElderCare services.

Question 9

SysTrust reports will always cover a historical period of time as opposed to a point in time.

Accepted Answer

A) True 
 B)False

Question 10

Which one of the following is not identified as an Attest Service?

Accepted Answer

A)  Management's assertion about internal control. 
B)  Agreed-upon procedure engagements. 
C)  A forecast. 
D)  A compilation of financial statements. 
E)  SysTrust. 
A)  Management's assertion about internal control. 
B)  Agreed-upon procedure engagements. 
C)  A forecast. 
D)  A compilation of financial statements. 
E)  SysTrust.

Question 11

GAAS requires the auditor to obtain an understanding of internal control, however, obtaining an understanding of internal control is not applicable in all attest engagements.

Accepted Answer

A) True 
 B)False

Question 12

A financial forecast is based on one or more hypothetical courses of action.

Accepted Answer

A) True 
 B)False

Question 13

In a consulting engagement independence is required.

Accepted Answer

A) True 
 B)False

Question 14

Match between columns
                        Premises: Product cycle time
Cash flow generation
Percent of revenues from new products
Measure of on-time delivery

Accepted Answer

The Answer of Customer Perspective and Internal Perspective and Innovation is...

Question 15

SysTrust principles are classified as:
-The can be updated when required in a manner that continues to provide for system availability, security, and integrity.
_____

Accepted Answer

A) Availability 
B) Security 
C) Integrity 
D) Maintainability
REQUIRED: Indicate the principle to which each of the following definitions pertains by using the code letters abovE._____ 
A) Availability 
B) Security 
C) Integrity 
D) Maintainability
REQUIRED: Indicate the principle to which each of the following definitions pertains by using the code letters abovE._____

Question 16

SSARS stands for Statements of Standards for Accounting and Revenue Services.

Accepted Answer

A) True 
 B)False

Question 17

Briefly identify the clients and discuss how the clients would benefit from the following services: CPA WebTrust, CPA SysTrust, risk assessment services, performance measurement services, and ElderCare services. Use the following format.

Accepted Answer

The answer of Briefly identify the clients and discuss how...

Question 18

Attestation standards and GAAS are classified into three categories: general, fieldwork, and reporting.

Accepted Answer

A) True 
 B)False

Question 19

Independence is embedded in the definition of assurance services.

Accepted Answer

A) True 
 B)False

Question 20

The compilation engagement is directed at assisting management in the preparation of financial information as well as providing assurance about whether the information is free of material misstatement.

Accepted Answer

A) True 
 B)False

Whether the system is protected against unauthorized physical and logical access defines:

The SSARS review service was originally developed as a lower-cost and lower-assurance alternative to an audit of the financial statements of public entities.

CPA Performance View is a system that merges the standard financial measures with leading indicators.

Complete the schedule of SysTrust principles and criteria shown below.

SSARS is available to both public and nonpublic entities.

In performing an attest engagement, a CPA performs all of the following except:

In the balanced scorecard approach to performance measurement, revenue goals relate to the:

Whether the entity maintains effective controls to provide reasonable assurance that private customer information obtained as a result of e-commerce is protected from uses not related to the entity's business defines:

SysTrust reports will always cover a historical period of time as opposed to a point in time.

Which one of the following is not identified as an Attest Service?

GAAS requires the auditor to obtain an understanding of internal control, however, obtaining an understanding of internal control is not applicable in all attest engagements.

A financial forecast is based on one or more hypothetical courses of action.

In a consulting engagement independence is required.

SysTrust principles are classified as: -The can be updated when required in a manner that continues to provide for system availability, security, and integrity. _____

SSARS stands for Statements of Standards for Accounting and Revenue Services.

Briefly identify the clients and discuss how the clients would benefit from the following services: CPA WebTrust, CPA SysTrust, risk assessment services, performance measurement services, and ElderCare services. Use the following format.

Attestation standards and GAAS are classified into three categories: general, fieldwork, and reporting.

Independence is embedded in the definition of assurance services.

The compilation engagement is directed at assisting management in the preparation of financial information as well as providing assurance about whether the information is free of material misstatement.

Auditing and the Public Accounting

Financial Statement Audits and

Professional Ethics

Auditors Legal Liability

Overview of the Audit Process

Audit Evidence, Audit Objectives,

Accepting the Engagement and

Materiality Decisions and Performing Analytical Procedures

Audit Risk, Including the Risk of Fraud

Understanding Internal Controls

Audit Procedures in Response to Assessed Risks: Tests of Controls

Audit Procedures in Response to Assessed Risks: Substantive Tests

Audit Sampling in Substantive Tests

Auditing the Revenue Cycle

Auditing the Expenditure Cycle

Auditing the Production and

Auditing the Investing and

Auditing Investments and

Completing the Audit and Postaudit

Internal, Operational, and

Filters

Exam 20: Attest and Assurance Services, and Related Reports

Whether the system is protected against unauthorized physical and logical access defines:

The SSARS review service was originally developed as a lower-cost and lower-assurance alternative to an audit of the financial statements of public entities.

CPA Performance View is a system that merges the standard financial measures with leading indicators.

Complete the schedule of SysTrust principles and criteria shown below.

SSARS is available to both public and nonpublic entities.

In performing an attest engagement, a CPA performs all of the following except:

In the balanced scorecard approach to performance measurement, revenue goals relate to the:

Whether the entity maintains effective controls to provide reasonable assurance that private customer information obtained as a result of e-commerce is protected from uses not related to the entity's business defines:

SysTrust reports will always cover a historical period of time as opposed to a point in time.

Which one of the following is not identified as an Attest Service?

GAAS requires the auditor to obtain an understanding of internal control, however, obtaining an understanding of internal control is not applicable in all attest engagements.

A financial forecast is based on one or more hypothetical courses of action.

In a consulting engagement independence is required.

SysTrust principles are classified as: -The can be updated when required in a manner that continues to provide for system availability, security, and integrity. _____

SSARS stands for Statements of Standards for Accounting and Revenue Services.

Briefly identify the clients and discuss how the clients would benefit from the following services: CPA WebTrust, CPA SysTrust, risk assessment services, performance measurement services, and ElderCare services. Use the following format.

Attestation standards and GAAS are classified into three categories: general, fieldwork, and reporting.

Independence is embedded in the definition of assurance services.

The compilation engagement is directed at assisting management in the preparation of financial information as well as providing assurance about whether the information is free of material misstatement.

Auditing and the Public Accounting

Financial Statement Audits and

Professional Ethics

Auditors Legal Liability

Overview of the Audit Process

Audit Evidence, Audit Objectives,

Accepting the Engagement and

Materiality Decisions and Performing Analytical Procedures

Audit Risk, Including the Risk of Fraud

Understanding Internal Controls

Audit Procedures in Response to Assessed Risks: Tests of Controls

Audit Procedures in Response to Assessed Risks: Substantive Tests

Audit Sampling in Substantive Tests

Auditing the Revenue Cycle

Auditing the Expenditure Cycle

Auditing the Production and

Auditing the Investing and

Auditing Investments and

Completing the Audit and Postaudit

Internal, Operational, and

Filters