Exam 1: Auditing and Assurance Services

Substantial equivalency refers to

The four basic requirements for becoming a CPA in most states relate to

Inquiries of warehouse personnel concerning possible obsolete or slow-moving inventory items provide assurance about the ASB balance assertion of

Which of the following is a reason to obtain professional certification?

Which of the following is not a recommendation usually made following the completion of an operational audit?

Which of the following is an example of a regulatory auditor?

The Sarbanes-Oxley Act of 2002 requires that the key company officials certify the financial statements.Certification means that the company CEO and CFO must sign a statement indicating

The engineering department at Omni Company built a piece of equipment in the company's own shop for use in the company's operations.When looking at the ending balance for the fixed asset account,the auditor examined all work orders,purchased materials,labor cost reports,and applied overhead that were capitalized as part of the equipment costs.Which of the following is the ASB balance assertion most closely related to the auditor's testing?

According to the AICPA,the purpose of an audit of financial statements is to

To be proficient as an auditor,a person must first be able to accomplish which of these tasks in a decision-making process?

The primary objective of compliance auditing is to

Which of the following best describes the relationship between auditing and attestation engagements?

The organization primarily responsible for ensuring that public officials are using public funds efficiently,economically,and effectively is the

The purpose of obtaining and evaluating evidence is to ascertain the degree of correspondence between the assertions and established criteria.

The primary difference between operational auditing and financial auditing is that in operational auditing

The purpose of obtaining and evaluating evidence is to ascertain the degree of correspondence between the _____________________________ and ____________________________.

The study of business operations for the purpose of making recommendations about the efficient use of resources,effective achievement of business objectives,and compliance with company policies is referred to as

The underlying conditions that create demand by users for reliable information include all of the following except

Professional skepticism is an auditor's tendency not to believe anyone.

The audit objective that all balances include all items that should be recorded in that account is related most closely to which one of the ASB balance assertions?