Questions from Auditing and Assurance

Q: For each of the situations (a) through (e),

For each of the situations (a) through (e), select the CPA engagement that is most likely to be appropriate from the list of services below: 1. Compliance 2. Continuous auditing 3. Forecast 4. Interna...

Q: Match the following definitions (or partial definitions) to the appropriate

Match the following definitions (or partial definitions) to the appropriate term. Each term may be used once or not at all.

Q: Select the best answer for each of the following questions. Explain

Select the best answer for each of the following questions. Explain the reasons for your selection. a. Internal auditing can best be described as: (1) An accounting function. (2) A compliance function...

Q: Under the Single Audit Act, auditors must test for compliance with

Under the Single Audit Act, auditors must test for compliance with the specific requirements of all major programs. State whether each of the following is required under that act:

Q: Described below are potential financial statement misstatements that are encountered by auditors

Described below are potential financial statement misstatements that are encountered by auditors. a. Inventory is understated because warehouse personnel overlooked several racks of parts in taking th...

Q: Williams Pharmaceutical Company produces a number of drugs that are regulated by

Williams Pharmaceutical Company produces a number of drugs that are regulated by various agencies, including, in the United States, the federal Food and Drug Administration (FDA). These agencies issue...

Q: Katherine Whipple of Food Queen Grocery, In., has asked you

Katherine Whipple of Food Queen Grocery, In., has asked you and your team to meet with her concerning a possible attest engagement relating to the assertion that Food Queen has the lowest overall pric...

Q: Described below are potential financial statement misstatements that are encountered by auditors

Described below are potential financial statement misstatements that are encountered by auditors in the audit of inventory and cost of goods sold. a. Management of a chain of discount department store...

Q: The following are typical questions that might appear on an internal control

The following are typical questions that might appear on an internal control questionnaire for inventory: 1. Are written procedures prepared by the client for the taking of the physical inventory? 2....

Q: You are involved in your CPA firm’s first audit of Zorostria,

You are involved in your CPA firm’s first audit of Zorostria, a retailer of artwork, primarily paintings and photographs purchased from artists in Southeast Asia (particularly Vietnam, Cambodia, and L...