Exam 1: CPA Auditing and Attestation Exam

This question will represent a statement, question, excerpt, or comment taken from various parts of an auditor's documentation file. Letter choices A-P represent a list of the likely sources of the statement, question, excerpt, or comment. Select, as the best answer for each item, the most likely source. Select only one source for each item. The timetable set by management to complete our audit was unreasonable considering the failure of the company's personnel to complete schedules on a timely basis and delays in providing necessary information.

(Multiple Choice)

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Question 341

An auditor's primary consideration in evaluating controls is whether specific controls:

(Multiple Choice)

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Question 342

Quick Service Center processes the payroll for a variety of clients, including James Industries. Adams, CPA, is Quick's auditor, while Robinson, CPA, is the auditor for James Industries. Which of the following is not required of Adams?

(Multiple Choice)

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Question 343

Which of the following phrases should be included in the opinion paragraph when an auditor expresses a qualified opinion?

(Multiple Choice)

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Question 344

How does an accountant make the following representations when issuing the standard report for the compilation of a nonissuer's financial statements?

(Multiple Choice)

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Question 345

The quarterly data required by SEC Regulation S-K have been omitted. Which of the following statements must be included in the auditor's report?

(Multiple Choice)

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Question 346

An auditor is determining the sample size for an inventory observation using mean-per-unit estimation, which is a variables sampling plan. To calculate the required sample size, the auditor usually determines the:

(Multiple Choice)

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Question 347

When companies use information technology (IT) extensively, evidence may be available only in electronic form. What is an auditor's best course of action in such situations?

(Multiple Choice)

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Question 348

An auditor's plan to examine long-term debt most likely would include steps that require:

(Multiple Choice)

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Question 349

In which of the following situations would a principal auditor least likely make reference to another auditor who audited a subsidiary of the entity?

(Multiple Choice)

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Question 350

An auditor most likely would express an unqualified opinion and would not add explanatory language to the report if the auditor:

(Multiple Choice)

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Question 351

The authority to accept incoming goods in receiving should be based on a (an):

(Multiple Choice)

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Question 352

When assessing an internal auditor's competence, a CPA ordinarily obtains information about all of the following, except:

(Multiple Choice)

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Question 353

Comfort letters ordinarily are signed by the client's:

(Multiple Choice)

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Question 354

Which of the following activities would most likely be considered an attestation engagement?

(Multiple Choice)

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Question 355

After issuing a report, an auditor has no obligation to make continuing inquiries or perform other procedures concerning the audited financial statements, unless:

(Multiple Choice)

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Question 356

Which of the following is not true about documentation requirements related to a review of a nonissuer's financial statements?

(Multiple Choice)

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Question 357

An accountant is asked to issue a review report on the balance sheet, but not on other related statements. The scope of the inquiry and analytical procedures has not been restricted, but the client failed to provide a representation letter. Which of the following should the accountant issue under these circumstances?

(Multiple Choice)

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Question 358

An engagement to express an opinion on the internal control of a nonissuer will generally:

(Multiple Choice)

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Question 359

Which of the following internal controls most likely would justify a reduced assessed level of control risk concerning plant and equipment acquisitions?

(Multiple Choice)

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Question 360

Showing 341 - 360 of 1050

Exam 1: CPA Auditing and Attestation Exam

An auditor's primary consideration in evaluating controls is whether specific controls:

Quick Service Center processes the payroll for a variety of clients, including James Industries. Adams, CPA, is Quick's auditor, while Robinson, CPA, is the auditor for James Industries. Which of the following is not required of Adams?

Which of the following phrases should be included in the opinion paragraph when an auditor expresses a qualified opinion?

How does an accountant make the following representations when issuing the standard report for the compilation of a nonissuer's financial statements?

The quarterly data required by SEC Regulation S-K have been omitted. Which of the following statements must be included in the auditor's report?

An auditor is determining the sample size for an inventory observation using mean-per-unit estimation, which is a variables sampling plan. To calculate the required sample size, the auditor usually determines the:

When companies use information technology (IT) extensively, evidence may be available only in electronic form. What is an auditor's best course of action in such situations?

An auditor's plan to examine long-term debt most likely would include steps that require:

In which of the following situations would a principal auditor least likely make reference to another auditor who audited a subsidiary of the entity?

An auditor most likely would express an unqualified opinion and would not add explanatory language to the report if the auditor:

The authority to accept incoming goods in receiving should be based on a (an):

When assessing an internal auditor's competence, a CPA ordinarily obtains information about all of the following, except:

Comfort letters ordinarily are signed by the client's:

Which of the following activities would most likely be considered an attestation engagement?

After issuing a report, an auditor has no obligation to make continuing inquiries or perform other procedures concerning the audited financial statements, unless:

Which of the following is not true about documentation requirements related to a review of a nonissuer's financial statements?

An engagement to express an opinion on the internal control of a nonissuer will generally:

Which of the following internal controls most likely would justify a reduced assessed level of control risk concerning plant and equipment acquisitions?

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