Solved

Match Seven of the Terms (A-K) with the Definitions Provided

Question 94

Matching

Match seven of the terms (a-k) with the definitions provided below (1-7):

Premises:
use of comparisons and relationships to assess whether account balances or other data appears reasonable
an intentional misstatement of the financial statements
a set of six audit objectives the auditor must meet including timing posting and summarization and accuracy
audit procedures testing for monetary misstatements to determine whether the balance-related audit objectives have been satisfied for each significant account balance
a set of nine audit objectives the auditor must meet including completeness detail tie-in and rights and obligations
implied or expressed representations made by the client about classes of transactions account balances and disclosures in the financial statements
audit procedures designed to test the effectiveness of control policies and procedures
Responses:
management assertions
error
analytical procedures
illegal act
tests of details of balances
management fraud
balance-related audit objectives
tests of controls
transaction-related audit objectives
fraud
substantive tests of transactions

Correct Answer:

management assertions
error
analytical procedures
illegal act
tests of details of balances
management fraud
balance-related audit objectives
tests of controls
transaction-related audit objectives
fraud
substantive tests of transactions
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