Questions from Auditing and Assurance

Q: Which of the following combinations of standards and types of audits are

Which of the following combinations of standards and types of audits are most closely related to the activities of the Public Company Accounting Oversight Board? a. Develop Auditing Standards for the...

Q: Which of the following best describes the general contents of the introductory

Which of the following best describes the general contents of the introductory paragraph of the auditors’ report? a. A description of an audit examination, including the fact that the audit was conduc...

Q: Which of the following opinions would be issued if auditors believed that

Which of the following opinions would be issued if auditors believed that the entity’s financial statements were not presented in conformity with GAAP? a. Adverse opinion. b. Disclaimer of opinion. c....

Q: What are (a) an internal control deficiency, (b

What are (a) an internal control deficiency, (b) a significant deficiency, and (c) a material weakness?

Q: Which of the following principles is most closely associated with the auditors’

Which of the following principles is most closely associated with the auditors’ conclusion as to the fair presentation of the entity’s financial statements? a. Communication principle. b. Performance...

Q: Which of the following categories of principles is most closely related to

Which of the following categories of principles is most closely related to gathering audit evidence? a. Performance. b. Reasonable assurance. c. Reporting. d. Responsibilities.

Q: One of an accounting firm’s basic objectives is to provide professional services

One of an accounting firm’s basic objectives is to provide professional services that conform to professional standards. Reasonable assurance of achieving this objective can be obtained by following a...

Q: Which of the following best demonstrates the concept of professional skepticism?

Which of the following best demonstrates the concept of professional skepticism? a. Relying more extensively on external evidence rather than internal evidence. b. Focusing on items that have a more s...

Q: The primary purpose for obtaining an understanding of the entity’s environment (

The primary purpose for obtaining an understanding of the entity’s environment (including its internal control) in a financial statement audit is a. To determine the nature, timing, and extent of subs...

Q: Auditors are required to obtain a sufficient understanding of each component of

Auditors are required to obtain a sufficient understanding of each component of a client’s internal control. This understanding is used to assess control risk and plan the audit of the client’s financ...