Questions from Auditing and Assurance

Q: The Sarbanes–Oxley Act of 2002 prohibits public accounting firms from

The Sarbanes–Oxley Act of 2002 prohibits public accounting firms from providing which of the following services to an audit client? a. Bookkeeping services. b. Internal auditing services. c. Valuation...

Q: A challenge facing auditors is the wide array of professional guidance available

A challenge facing auditors is the wide array of professional guidance available to them in the audits of different types of entities. Required: Describe Statements on Auditing Standards and Auditing...

Q: Independent auditors of financial statements perform audits that reduce a.

Independent auditors of financial statements perform audits that reduce a. Business risks faced by investors. b. Information risk faced by investors. c. Complexity of financial statements. d. Timeline...

Q: What is meant by a “top-down” approach to

What is meant by a “top-down” approach to evaluation of internal controls?

Q: The primary objective of compliance auditing is to a. Give

The primary objective of compliance auditing is to a. Give an opinion on financial statements. b. Develop a basis for a report on internal control. c. Perform a study of effective and efficient use of...

Q: Breaux & Co. CPAs require that all audit documentation indicate the

Breaux & Co. CPAs require that all audit documentation indicate the identity of the preparer and the reviewer. This procedure provides evidence relating to which of the following? a. Independence. b....

Q: What requirements are usually necessary to become licensed as a certified public

What requirements are usually necessary to become licensed as a certified public accountant? a. Successful completion of the Uniform CPA Examination. b. Experience in the accounting field. c. Educatio...

Q: The organization primarily responsible for ensuring that public officials are using public

The organization primarily responsible for ensuring that public officials are using public funds efficiently, economically, and effectively is the a. Governmental Internal Audit Agency (GIAA). b. Cent...

Q: Performance audits usually include [two answers] a. Financial

Performance audits usually include [two answers] a. Financial audits. b. Economy and efficiency audits. c. Compliance audits. d. Program audits.

Q: Which of the following is most closely related to the responsibilities principle

Which of the following is most closely related to the responsibilities principle? a. The auditors’ responsibility to issue a report as a result of their examination. b. The requirement that auditors g...