Exam 9: Control Assessment and Testing
Exam 1: Introduction to Auditing42 Questions
Exam 2: Auditors Professional Roles and Responsibilities45 Questions
Exam 3: Auditors Ethical and Legal Responsibilities57 Questions
Exam 4: Reports on Audited Financial Statements52 Questions
Exam 5: Preliminary Audit Planning: Understanding the Auditees Business45 Questions
Exam 6: Assessing Risks in an Audit Engagement52 Questions
Exam 7: Internal Control Over Financial Reporting73 Questions
Exam 8: Audit Evidence and Assurance47 Questions
Exam 9: Control Assessment and Testing51 Questions
Exam 10: Audit Sampling54 Questions
Exam 11: The Revenues, receivables, and Receipts Process and Cash Account Balance78 Questions
Exam 12: The Purchases, payables, and Payments Process61 Questions
Exam 13: Payroll and Production Processes48 Questions
Exam 14: The Finance and Investment Process44 Questions
Exam 15: Completing the Audit Work53 Questions
Exam 16: Applying Professional Judgment to Form the Audit Opinion and Issue the Audit Report48 Questions
Exam 17: Other Public Accounting Services and Reportsreviews and Compilations57 Questions
Exam 18: Professional Rules of Conduct Details and Auditor Responsibilities42 Questions
Exam 19: The Audit of Accounting Estimates: Basic Material Relating to Accounting Estimates50 Questions
Exam 20: Legal Liability Cases56 Questions
Exam 21: Other Professional Accounting Services and Reports, including Fraud Auditing50 Questions
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An auditor should always check late entries in the accounting records with substantive procedures.
(True/False)
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If a control fails to prevent a sale from being recorded,it means the authorization control objective was not met
(True/False)
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Which internal control objectives relate to the financial statement assertion of valuation?
(Multiple Choice)
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Control tests should be applied to samples of transactions and control procedures ________.
(Multiple Choice)
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Identify three general categories of misstatements and give an example of each.
(Essay)
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In general,a control deficiency will not affect control risk when ______.
(Multiple Choice)
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An auditor has uncovered suspicious expense reimbursements paid to the chief executive officer of its audit client.What should the auditor do?
(Multiple Choice)
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The auditor's primary purpose for evaluating internal control is to ________.
(Multiple Choice)
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When the assessed level of inherent risk for material misstatement is not high,but the control risk is,the audit plan should call for:
(Multiple Choice)
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Controls such as those to protect inventory should be put in place no matter what the cost.
(True/False)
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The required degree of control compliance is determined by management's control objectives.
(True/False)
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The auditor's primary concern with regard to internal controls is ________.
(Multiple Choice)
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Which of the following is not a control risk associated with manual controls?
(Multiple Choice)
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Which of the following descriptions of job responsibilities reflects improper segregation of duties?
(Multiple Choice)
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The objective of application control procedures is to process transactions correctly.
(True/False)
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The internal control objective of ensuring that all sales on credit are recorded at the proper dollar amounts is ________.
(Multiple Choice)
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