Question 1

What is management's responsibility with respect to the conduct of an audit?

Accepted Answer

A) Preparing financial statements. 
B) Maintaining internal control over financial reporting. 
C) Providing the auditor with relevant information and access to personnel. 
D) All of the above. 
A) Preparing financial statements. 
B) Maintaining internal control over financial reporting. 
C) Providing the auditor with relevant information and access to personnel. 
D) All of the above.

Question 2

Which of the following assertions address whether accounts have been included in the financial statements at appropriate amounts?

Accepted Answer

A) Completeness assertion. 
B) Valuation or allocation assertion. 
C) Rights and obligations assertion. 
D) None of the above. 
A) Completeness assertion. 
B) Valuation or allocation assertion. 
C) Rights and obligations assertion. 
D) None of the above.

Question 3

What does the quality of the evidence an auditor collects depend upon?

Accepted Answer

A) The nature of the procedures. 
B) The extent of the procedures. 
C) The timing of the procedures. 
D) Both A and C. 
E) All of the above. 
A) The nature of the procedures. 
B) The extent of the procedures. 
C) The timing of the procedures. 
D) Both A and C. 
E) All of the above.

Question 4

What are the five categories of PCAOB standards? What is included in each category?

Accepted Answer

The categories are:
1)General Auditing S

What is management's responsibility with respect to the conduct of an audit?

Which of the following assertions address whether accounts have been included in the financial statements at appropriate amounts?

What does the quality of the evidence an auditor collects depend upon?

What are the five categories of PCAOB standards? What is included in each category?

Quality Auditing: Why It Matters

The Auditors Responsibilities Regarding Fraud and Mechanisms to Address Fraud: Regulation and Corporate Governance

Internal Control Over Financial Reporting: Responsibilities of Management and the External Auditor

Professional Legal Liability

Audit Evidence

Planning the Audit: Identifying and Responding to the Risks of Material Misstatement

Specialized Audit Tools: Sampling and Generalized Audit Software

Auditing the Revenue Cycle

Auditing Cash and Marketable Securities

Auditing Inventory, Goods and Services, and Accounts Payable: the Acquisition and Payment Cycle

Auditing Long-Lived Assets: Acquisition, Use, Impairment, and Disposal

Auditing Long-Term Liabilities and Stockholders Equity Transactions

Completing a Quality Audit

Audit Reports

Filters

Exam 5: Professional Auditing Standards and the Audit Opinion Formulation Process

What is management's responsibility with respect to the conduct of an audit?

Which of the following assertions address whether accounts have been included in the financial statements at appropriate amounts?

What does the quality of the evidence an auditor collects depend upon?

What are the five categories of PCAOB standards? What is included in each category?

Quality Auditing: Why It Matters

The Auditors Responsibilities Regarding Fraud and Mechanisms to Address Fraud: Regulation and Corporate Governance

Internal Control Over Financial Reporting: Responsibilities of Management and the External Auditor

Professional Legal Liability

Audit Evidence

Planning the Audit: Identifying and Responding to the Risks of Material Misstatement

Specialized Audit Tools: Sampling and Generalized Audit Software

Auditing the Revenue Cycle

Auditing Cash and Marketable Securities

Auditing Inventory, Goods and Services, and Accounts Payable: the Acquisition and Payment Cycle

Auditing Long-Lived Assets: Acquisition, Use, Impairment, and Disposal

Auditing Long-Term Liabilities and Stockholders Equity Transactions

Completing a Quality Audit

Audit Reports

Filters