Exam 21: Assurance,Attestation,and Internal Auditing Services

To bridge the gap between a changing business environment and the guidance that was then available,the IIA developed a Professional Practices Framework.This framework consists of two broad categories of guidance.List these categories of guidance and what they include.

In your own words,describe how the Institute of Internal Auditors (IIA)defines internal auditing?

This concept,while used by both internal and external auditors,is typically assessed quite differently for each.

Compilations provide which of the following types of assurance about the fair presentation of financial statements?

Which of the following would be considered a part of a consulting services (non-assurance)engagement? I.Expressing a conclusion about the reliability of a client's financial statements. II.Reviewing and commenting on a client-prepared business plan.

Which set of standards was created by the AICPA to cover services relating to unaudited financial statements?

Snow,CPA,was engaged by Master Co.,a privately-held company,to examine and report on management's written assertion about the effectiveness of Master's internal control over financial reporting.Snow's report should state that

Blue Co.,a privately-held entity,asked its tax accountant,Cook,a CPA in public practice,to reproduce Blue's internally-prepared interim financial statements on Cook's computer when Cook prepared Blue's quarterly tax return.Cook should not submit these financial statements to Blue unless,at a minimum,Cook complies with the provisions of

Match the Trust Services Principle with its proper definition.

An examination of a financial forecast is a professional service that involves

A CPA's report on agreed-upon procedures related to management's assertion about an entity's compliance with specified requirements should contain

Limited assurance is provided in

The expectation that an internal auditor does not accept gifts that may impair judgment is based on the principle of

Inquiry of the entity's personnel and analytical procedures are the primary bases for the issuance of a(n)

An accountant is required to comply with the provisions of Statements on Standards for Accounting and Review Services when I.Typing client-prepared financial statements,without modification,as an accommodation to a client. II.Preparing standard monthly journal entries for depreciation and expiration of prepaid expenses.

Reasonable assurance is provided in

Match the attestation standard with the generally accepted auditing standard that is most similar in nature.

Limited assurance is provided in a review engagement.

Independence is required

The type of report issued under a PrimePlus assurance engagement is likely which of the following?