Questions from Auditing and Assurance

Q: The following questions concern auditor responsibilities related to the identification and assessment

The following questions concern auditor responsibilities related to the identification and assessment of fraud risk. Choose the best response. a. While performing a preliminary assessment for a new cl...

Q: The following questions concern audit reports other than unmodified opinion audit reports

The following questions concern audit reports other than unmodified opinion audit reports with standard wording. Choose the best response. a. As compared to an unmodified opinion, an opinion qualified...

Q: The following questions deal with internal control and audit evidence in the

The following questions deal with internal control and audit evidence in the sales and collection cycle. Choose the best response. a. Tracing shipping documents to sales invoices provides evidence tha...

Q: The following questions concern auditor responsibilities in an audit of financial statements

The following questions concern auditor responsibilities in an audit of financial statements. Choose the best response. a. The auditor’s responsibility regarding material misstatements caused by fraud...

Q: Auditing standards require the auditor to obtain an understanding of the entity

Auditing standards require the auditor to obtain an understanding of the entity and its environment as a basis for assessing the risks of material misstatements. Business models differ across organiza...

Q: The following questions deal with client acceptance, audit planning, and

The following questions deal with client acceptance, audit planning, and materiality. Choose the best response. a. In which of the following circumstances would an auditor of an issuer be least likely...

Q: Describe two of the more common judgment traps and biases.

Describe two of the more common judgment traps and biases.

Q: The following questions concern audit evidence and audit documentation. Choose the

The following questions concern audit evidence and audit documentation. Choose the best response. a. According to PCAOB audit standards, audit documentation must be retained for b. Which of the follow...

Q: The following questions concern auditor responsibilities related to the assessment of risks

The following questions concern auditor responsibilities related to the assessment of risks of material misstatement. Choose the best response. a. Which of the following procedures would a CPA most li...

Q: The PCAOB issues audit practice alerts to highlight new, emerging,

The PCAOB issues audit practice alerts to highlight new, emerging, or otherwise noteworthy circumstances. Revenue is the largest account in the financial statements for many companies, and many fraudu...