Questions from Auditing and Assurance

Q: When planning an audit, which of the following is not a

When planning an audit, which of the following is not a factor that affects auditors’ decisions about the quantity, type, and content of audit documentation? a. The auditors’ need to document complian...

Q: Audit documentation that shows the detailed evidence and procedures regarding the balance

Audit documentation that shows the detailed evidence and procedures regarding the balance in the accumulated depreciation account for the year under audit will be found in the a. Current file audit do...

Q: An auditor’s permanent file audit documentation most likely will contain a

An auditor’s permanent file audit documentation most likely will contain a. Internal control analysis for the current year. b. The most recent engagement letter. c. Memoranda of conference with manage...

Q: Which of the following is not a benefit claimed for the practice

Which of the following is not a benefit claimed for the practice of determining materiality in the initial planning stage of an audit? a. Being able to fine-tune the audit work for effectiveness and e...

Q: A transaction-level internal control activity is best described as

A transaction-level internal control activity is best described as a. An action taken by auditors to obtain evidence. b. An action taken by client personnel for the purpose of preventing, detecting, a...

Q: Identify and then briefly explain the eight general audit procedures used to

Identify and then briefly explain the eight general audit procedures used to gather evidence. Next, please provide an example for each of the eight procedures.

Q: In what ways are assurance services similar to attestation services (including

In what ways are assurance services similar to attestation services (including audits of financial statements)?

Q: When planning an audit engagement, what matters should be considered about

When planning an audit engagement, what matters should be considered about a client’s computerized processing environment?

Q: Which of the following best describes the relationship between auditing and attestation

Which of the following best describes the relationship between auditing and attestation engagements? a. Auditing is a subset of attestation engagements that focuses on the certification of financial s...

Q: During an audit of a company’s cash balance on a company with

During an audit of a company’s cash balance on a company with operations in only one country, the auditor is most concerned with which management assertion? a. Existence. b. Rights and obligations. c....