Question 1

Which of the following types of audits involves expressing an opinion?

Accepted Answer

A)  Financial statement audit. 
B)  Operational audit. 
C)  Management audit. 
D)  Systems audit. 
A)  Financial statement audit. 
B)  Operational audit. 
C)  Management audit. 
D)  Systems audit. A

Question 2

All of the following link accounting information systems with auditing except:

Accepted Answer

A)  Flowcharting. 
B)  General ledger software. 
C)  Field work standards. 
D)  The sales/collection process. 
A)  Flowcharting. 
B)  General ledger software. 
C)  Field work standards. 
D)  The sales/collection process. C

Question 3

Match between columns
                        Premises:  4th amendment issues.
 Balance sheet interpretation.
 Fraud classifications.
 Interviewing techniques.
 Mail fraud statute.
 Obtaining a confession.
 Preparation of an income statement.
 Characteristics of fraudsters.

Accepted Answer

The Answer of Criminology and ethics. and Financial transactions. and is...

Question 4

A(n) ___ audit examines a company's rules and procedures for doing business.

Accepted Answer

A)  Systems audit. 
B)  Investigative audit. 
C)  Operational audit. 
D)  Management audit. 
A)  Systems audit. 
B)  Investigative audit. 
C)  Operational audit. 
D)  Management audit.

Question 5

Types of audits Which type of audit is described in each independent item below? \[\begin{array} { | l l | c | } 
\hline& { \text { Description } } & \text { Audit type } \
\hline \text { a. } & \begin{array} { l } 
\text { A compilation of other types of } \
\text { audits }
\end{array} & \
\hline \text { b. } & \begin{array} { l } 
\text { Associated with governmental and } \
\text { not-for-profit organizations }
\end{array} & \
\hline \text { c. } & \begin{array} { l } 
\text { Can be triggered by observations of } \
\text { unusual behavior }
\end{array} & \
\hline \text { d. } & \begin{array} { l } 
\text { Determines whether IT resources } \
\text { are producing expected results }
\end{array} &\
\hline \text { e. } & \begin{array} { l } 
\text { Determines whether the } \
\text { assumptions underlying decisions } \
\text { are valid }
\end{array} &  \
\hline \text { f. } & \begin{array} { l } 
\text { Examines a company's accounting } \
\text { information system and financial } \
\text { statements }
\end{array} & \
\hline \text { g. } & \begin{array} { l } 
\text { Examines a company's rules and } \
\text { procedures for conducting business }
\end{array} &  \
\hline
\end{array}\]

Accepted Answer

The answer of Types of audits Which type of audit...

Question 6

Which type of audit is associated most closely with forensic accounting?

Accepted Answer

A)  Investigative audit. 
B)  Compliance audit. 
C)  Systems audit. 
D)  Financial statement audit. 
A)  Investigative audit. 
B)  Compliance audit. 
C)  Systems audit. 
D)  Financial statement audit.

Question 7

In a financial statement audit, questionnaires and interviews can be helpful in: (i) assessing management's integrity, (ii) reviewing internal controls.

Accepted Answer

A)  i only. 
B)  ii only. 
C)  Both i and ii. 
D)  Neither i nor ii. 
A)  i only. 
B)  ii only. 
C)  Both i and ii. 
D)  Neither i nor ii.

Question 8

A client refuses to let a financial statement auditor examine certain documents. The auditor is most likely to issue a(n) ___ opinion.

Accepted Answer

A)  Unqualified. 
B)  Qualified. 
C)  Disclaimer. 
D)  Adverse. 
A)  Unqualified. 
B)  Qualified. 
C)  Disclaimer. 
D)  Adverse.

Question 9

AIS and auditing connections
List three topics that connect the subject matter of accounting information systems with the subject matter of auditing. Then, draw a diagram that illustrates how the topics are connected.

Accepted Answer

1. Data integrity and accuracy: Both acc

Question 10

Your school's accounting club will soon host a one-day seminar on auditing and evaluating accounting information systems. You know you'll be talking with experienced auditors during the seminar; you want to demonstrate your knowledge of auditing to make a good impression.
-The Sarbanes-Oxley Act of 2002 contains at least five sections that relate to the audit process: 302, 401, 404, 409 and 802. Explain how each section is related to one or more of the AICPA's ten generally accepted auditing standards.

Accepted Answer

The sections of SOX are related to the a

Question 11

Match between columns
                        Premises:  Carlos reviews methods for calculating  depreciation.
 Carol refuses an expensive gift from an audit client.
 Hamid assigns tasks to audit team members based on their experience.
 Hobart composes a footnote discussing the basis for financial statement estimates.
 Hong verifies adequate separation of duties in the accounting information system.
 Linda reviews last year's audit documents before starting this year's audit.
 Nathan attends a seminar on forensic accounting.
 Patty's work is reviewed until she obtains her CPA license.
 Peggy determines that a client's financial statements are fair.
 Rochelle scans copies of all customer invoices.

Accepted Answer

The Answer of Consistency. and Disclosure. and Evidence. and GAAP. is...

Question 12

Which of the following occurs first in most audit processes?

Accepted Answer

A)  Assess management's integrity. 
B)  Evaluate management's credentials. 
C)  Review the internal control system. 
D)  Perform compliance testing. 
A)  Assess management's integrity. 
B)  Evaluate management's credentials. 
C)  Review the internal control system. 
D)  Perform compliance testing.

Question 13

In a financial statement audit, interviews to determine risk exposures help fulfill which auditing standard?

Accepted Answer

A)  Internal controls. 
B)  Disclosure. 
C)  Consistency. 
D)  Training. 
A)  Internal controls. 
B)  Disclosure. 
C)  Consistency. 
D)  Training.

Question 14

In general, inexperienced auditors take on very focused assignments, with the results being reviewed by more experienced auditors. That process upholds an auditing standard in which area?

Accepted Answer

A)  General. 
B)  Field work. 
C)  Reporting. 
D)  Procedural. 
A)  General. 
B)  Field work. 
C)  Reporting. 
D)  Procedural.

Question 15

If management lacks integrity, auditors issue which type of opinion: (i) disclaimer, (ii) adverse.

Accepted Answer

A)  i only. 
B)  ii only. 
C)  Neither i nor ii. 
D)  Either i or ii. 
A)  i only. 
B)  ii only. 
C)  Neither i nor ii. 
D)  Either i or ii.

Question 16

Purchase orders and customer invoices are most closely associated with which type of standard in a financial statement audit?

Accepted Answer

A)  General. 
B)  Field work. 
C)  Documentation. 
D)  Reporting. 
A)  General. 
B)  Field work. 
C)  Documentation. 
D)  Reporting.

Question 17

Your school's accounting club will soon host a one-day seminar on auditing and evaluating accounting information systems. You know you'll be talking with experienced auditors during the seminar; you want to demonstrate your knowledge of auditing to make a good impression.
-Most accounting information systems are organized into five basic parts: inputs, processes, outputs, storage and internal controls. Use that framework to explain how auditing is related to the study of accounting information systems.

Accepted Answer

Auditors must review source documents (i

Question 18

Your school's accounting club will soon host a one-day seminar on auditing and evaluating accounting information systems. You know you'll be talking with experienced auditors during the seminar; you want to demonstrate your knowledge of auditing to make a good impression.
-In your own words, explain each of the AICPA's generally accepted auditing standards.

Accepted Answer

The computer software business would ben

Question 19

The Sarbanes-Oxley Act of 2002 impacts auditors' actions most directly when they:

Accepted Answer

A)  Express an opinion on financial statements. 
B)  Complete an investigative audit. 
C)  Review the internal control system. 
D)  Participate in a SAS 70 audit. 
A)  Express an opinion on financial statements. 
B)  Complete an investigative audit. 
C)  Review the internal control system. 
D)  Participate in a SAS 70 audit.

Question 20

Which group of auditing standards requires auditors to have a college degree in accounting?

Accepted Answer

A)  General. 
B)  Field work. 
C)  Reporting. 
D)  Auditing standards do not require auditors to have a college degree in accounting. 
A)  General. 
B)  Field work. 
C)  Reporting. 
D)  Auditing standards do not require auditors to have a college degree in accounting.

Which of the following types of audits involves expressing an opinion?

All of the following link accounting information systems with auditing except:

A(n) ___ audit examines a company's rules and procedures for doing business.

Which type of audit is associated most closely with forensic accounting?

In a financial statement audit, questionnaires and interviews can be helpful in: (i) assessing management's integrity, (ii) reviewing internal controls.

A client refuses to let a financial statement auditor examine certain documents. The auditor is most likely to issue a(n) ___ opinion.

AIS and auditing connections List three topics that connect the subject matter of accounting information systems with the subject matter of auditing. Then, draw a diagram that illustrates how the topics are connected.

Which of the following occurs first in most audit processes?

In a financial statement audit, interviews to determine risk exposures help fulfill which auditing standard?

In general, inexperienced auditors take on very focused assignments, with the results being reviewed by more experienced auditors. That process upholds an auditing standard in which area?

If management lacks integrity, auditors issue which type of opinion: (i) disclaimer, (ii) adverse.

Purchase orders and customer invoices are most closely associated with which type of standard in a financial statement audit?

The Sarbanes-Oxley Act of 2002 impacts auditors' actions most directly when they:

Which group of auditing standards requires auditors to have a college degree in accounting?

Rolse and Purpose of Accountig Information Systems

Transaction Processing in the AIS

Professionalisam and Ethics

Internal Controls

Flow Charting

Data Flow Diagramming

Real Modeling

XBRL

Business and Enterprise Resource Planning Systems

Salles - Collection Process

Acquestion Payment Process

Other Business Process

Bussiness Process Mamagement

Computer Crime and Information Technology Security

Dicision Making Models and Knowledge Management

Professional Certifications and Career Planning

Filters

Exam 17: Auditing and Evaluating the AIS

Which of the following types of audits involves expressing an opinion?

All of the following link accounting information systems with auditing except:

A(n) ___ audit examines a company's rules and procedures for doing business.

Which type of audit is associated most closely with forensic accounting?

In a financial statement audit, questionnaires and interviews can be helpful in: (i) assessing management's integrity, (ii) reviewing internal controls.

A client refuses to let a financial statement auditor examine certain documents. The auditor is most likely to issue a(n) ___ opinion.

AIS and auditing connections List three topics that connect the subject matter of accounting information systems with the subject matter of auditing. Then, draw a diagram that illustrates how the topics are connected.

Which of the following occurs first in most audit processes?

In a financial statement audit, interviews to determine risk exposures help fulfill which auditing standard?

In general, inexperienced auditors take on very focused assignments, with the results being reviewed by more experienced auditors. That process upholds an auditing standard in which area?

If management lacks integrity, auditors issue which type of opinion: (i) disclaimer, (ii) adverse.

Purchase orders and customer invoices are most closely associated with which type of standard in a financial statement audit?

The Sarbanes-Oxley Act of 2002 impacts auditors' actions most directly when they:

Which group of auditing standards requires auditors to have a college degree in accounting?

Rolse and Purpose of Accountig Information Systems

Transaction Processing in the AIS

Professionalisam and Ethics

Internal Controls

Flow Charting

Data Flow Diagramming

Real Modeling

XBRL

Business and Enterprise Resource Planning Systems

Salles - Collection Process

Acquestion Payment Process

Other Business Process

Bussiness Process Mamagement

Computer Crime and Information Technology Security

Dicision Making Models and Knowledge Management

Professional Certifications and Career Planning

Filters