Exam 1: The Demand for Audit and Other Assurance Services

The primary role of the United States General Accounting Office is the enforcement of the federal tax laws as defined by Congress and interpreted by the courts.

Which of the following is an accurate statement regarding the various types of other assurance services?

The most common way for users to obtain reliable information is to

One criteria used by an external auditor to evaluate published financial statements is known as generally accepted auditing standards.

Auditors focus on determining whether recorded information properly reflects the economic events that occurred during the accounting period.

________ risk reflects the possibility that the information upon which the business decision was made was inaccurate.

Auditors strive to maintain a high level of independence to keep the confidence of users relying on their reports.

The primary purpose of a management consulting engagement is to generate a recommendation to management.

CPA firms are never allowed to provide bookkeeping services for clients.

An examination of part of an organization's procedures and methods for the purpose of evaluating efficiency and effectiveness is what type of audit?

Internal auditors

What is an audit of internal control over financial reporting?

Which of the following audits can be regarded as generally being a compliance audit?

What are the four categories of attestation services?

Discuss the differences and similarities between the roles of accountants and auditors.What additional expertise must an auditor possess beyond that of an accountant?

To perform an audit,there must be information in a verifiable form and some criteria by which the auditor can evaluate the information.

External users of the financial statements

Which of the following can be used as a criteria for evaluating information being audited?

Recording,classifying,and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called

A high,but not absolute,level of assurance is called