Exam 1: The Demand for Audit, Cpa Profession, Audit Reports and Other Assurance Services

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Which of the following is not one of the principal auditor's alternatives when issuing a report if a different auditor performed part of the audit?

(Multiple Choice)

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Question 101

If an auditor is not independent and the auditor knows that the company has not followed IFRS, the auditor should immediately disclaim an opinion and not mention the departure from IFRS in the audit report.

(True/False)

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Question 102

The generally accepted auditing standard that requires 'adequate technical training and proficiency' is normally interpreted as requiring the auditor to have:

(Multiple Choice)

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Question 103

Assume you are the partner in charge of the 2012 audit of Bashir Corporation, a private company. The audit report has not yet been prepared. In each independent situation following, indicate the appropriate action to be taken. -Bashir Corporation changed its method of computing depreciation in 2012. You concur with the change and the change is properly disclosed in the financial statement footnotes.

(Multiple Choice)

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Question 104

Match each of the definition with the following terms -The process of investigating cases of fraud in the company's financial statements, accounting books and records, and any other documents used in the company's operations that may be used in white- collar crime.

(Multiple Choice)

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Question 105

There is a joint partnership between the International CPA networks and local accountant(s) in every Arab country

(True/False)

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Question 106

Which of the following representations does an auditor make explicitly and which implicitly when issuing an unmodified opinion?

(Short Answer)

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Question 107

In certain circumstances, an auditor will issue an unmodified report, but the wording will differ from that of a standard unmodified report. Discuss circumstances when an auditor would issue an unmodified report with an explanatory paragraph or modified wording.

(Essay)

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Question 108

Showing 101 - 108 of 108

Which of the following is not one of the principal auditor's alternatives when issuing a report if a different auditor performed part of the audit?

If an auditor is not independent and the auditor knows that the company has not followed IFRS, the auditor should immediately disclaim an opinion and not mention the departure from IFRS in the audit report.

The generally accepted auditing standard that requires 'adequate technical training and proficiency' is normally interpreted as requiring the auditor to have:

Match each of the definition with the following terms -The process of investigating cases of fraud in the company's financial statements, accounting books and records, and any other documents used in the company's operations that may be used in white- collar crime.

There is a joint partnership between the International CPA networks and local accountant(s) in every Arab country

Which of the following representations does an auditor make explicitly and which implicitly when issuing an unmodified opinion?

In certain circumstances, an auditor will issue an unmodified report, but the wording will differ from that of a standard unmodified report. Discuss circumstances when an auditor would issue an unmodified report with an explanatory paragraph or modified wording.

Professional Ethics, Legal Liability, Audit Responsibilities and Objectives

Audit Evidence, Audit Planning, Analytical Procedures, Materiality and Risk

Internal Control, Control Risk, Section 404 Audits, Fraud Auditing, and the Impact of Information Technology on the Audit Process

Overall Audit Strategy, Audit Program, Audit of the Sales and Collection Cycle, Audit Sampling for Tests of Controls and Substantive Tests of Transactions

Completing the Tests in the Sales and Collection Cycle: Accounts Receivable, Audit Sampling for Tests of Details of Balances, and Audit of the Acquisition and Payment Cycle

Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts, Audit of the Payroll and Personnel Cycle, Audit of the Inventory and Warehousing Cycle

Audit of the Capital Acquisition, Repayment, Audit of Cash and Financial Instruments, and Completing the Audit

Other Assurance Services, Internal and Governmental Financial Auditing and Operations Auditing

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