Questions from Auditing and Assurance

Q: What types of PrimePlus/ElderCare services do CPAs typically perform?

What types of PrimePlus/ElderCare services do CPAs typically perform?

Q: Identify two types of assurance services that are currently under development by

Identify two types of assurance services that are currently under development by the AICPA.

Q: Describe the forces that have fueled the demand for assurance services.

Describe the forces that have fueled the demand for assurance services.

Q: Is a written report from the accountant involved for all attestation and

Is a written report from the accountant involved for all attestation and other assurance services? Explain.

Q: List and describe the three types of attestation engagements.

List and describe the three types of attestation engagements.

Q: Distinguish between forms of attestation engagements that result in reports that are

Distinguish between forms of attestation engagements that result in reports that are designed for “general use” and those that result in reports that are designed for “restricted use.”

Q: Distinguish between an attestation engagement in which the practitioners report directly on

Distinguish between an attestation engagement in which the practitioners report directly on the subject matter and one in which the practitioners report on an assertion about the subject matter.

Q: What are “suitable criteria” and how do they relate to

What are “suitable criteria” and how do they relate to an attestation engagement?

Q: Explain what is meant by attestation risk. What are its components

Explain what is meant by attestation risk. What are its components?

Q: Describe circumstances that might cause the auditors to identify understatement of assets

Describe circumstances that might cause the auditors to identify understatement of assets as a significant audit risk.