MCQ4

1

Evidence is used by which of the following professionals?

1

An _________ programme is a list of audit procedures for an audit area or an entire audit.

1

Characteristics that effect the reliability of evidence include:

1

The following are all types of audit evidence except:

1

An insurance policy is an example of:

1

The Sarbanes-Oxley Act requires auditors of public companies to retain audit files for no less than:

1

Which of the following is an example of a supporting schedule which is support of specific amounts on the client's financial statements?

1

If an auditor believes the financial statements of a client are not fairly presented then the auditor should:

1

Fair representation in the financial statements:

1

When an auditor believes a client is involved in illegal acts, the auditor should:

1

Audit objectives should be estimated for each of the following except:

1

_____________ uses comparison and relationship to assess whether account balances or other data appear reasonable.

1

___________ judgment should be used when setting and applying materiality guidelines.

1

Materiality is allocated to accounts on the balance sheet while keeping the following items in mind:

1

The risk that the portion of the population selected for review does not accurately represent the population, is what type of risk?

1

As inherent risk increases, planned detection risk

1

If the level of audit assurance is 97%, the level of acceptable audit risks is

1

In evaluating engagement risks, the auditor should be aware of items such as:

1

Factors affecting inherent risks include:

1

The major limitation of using the audit risk model is the:

1

Because of legal liability and loss of professional reputation most auditors are concerned about:

1

Materiality and risk are_________ related.

1

In class test practice sample for Advanced Auditing Principles and Practice

Evidence is used by which of the following professionals?

An _________ programme is a list of audit procedures for an audit area or an entire audit.

Characteristics that effect the reliability of evidence include:

The following are all types of audit evidence except:

An insurance policy is an example of:

The Sarbanes-Oxley Act requires auditors of public companies to retain audit files for no less than:

Which of the following is an example of a supporting schedule which is support of specific amounts on the client's financial statements?

If an auditor believes the financial statements of a client are not fairly presented then the auditor should:

Fair representation in the financial statements:

When an auditor believes a client is involved in illegal acts, the auditor should:

Audit objectives should be estimated for each of the following except:

_____________ uses comparison and relationship to assess whether account balances or other data appear reasonable.

___________ judgment should be used when setting and applying materiality guidelines.

Materiality is allocated to accounts on the balance sheet while keeping the following items in mind:

The risk that the portion of the population selected for review does not accurately represent the population, is what type of risk?

As inherent risk increases, planned detection risk

If the level of audit assurance is 97%, the level of acceptable audit risks is

In evaluating engagement risks, the auditor should be aware of items such as:

Factors affecting inherent risks include:

The major limitation of using the audit risk model is the: