6884683
Descripción
Test por Lauren Alsobrook, actualizado hace más de 1 año
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Creado por Lauren Alsobrook
hace alrededor de 8 años
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Pregunta 1
Pregunta
An integrated audit is
Respuesta
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required for all companies
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required by the IAASB
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Composed of financial statement audit and an audit of internal control over financial reporting
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conducted according to audit standards of AICPA
Pregunta 2
Pregunta
Evidence
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is composed of various items including underlying records of accounts and docs
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must be in written form
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includes records created by the auditor to document audit activities
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includes only corroborating info obtained from outside the client
Pregunta 3
Pregunta
The PCAOB
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is a not for profit entity
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shares responsibility for standard setting with AICPA
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creates audit standards that CPA firms must use in all audits
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is independent of SEC oversight
Pregunta 4
Pregunta
The “highest” level of a CPA firm hierarchy is:
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The shareholders.
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The partners
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The managers
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Both a and b
Pregunta 5
Pregunta
Which of the following is NOT a “Big Four” firm?
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PWC
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Grant Thornton
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Deloitte
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EY
Pregunta 6
Pregunta
Which body regulates the audits of nonpublic companies in the United States?
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PCAOB
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AICPA
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IFRS
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SEC
Pregunta 7
Pregunta
The Securities and Exchange Commission:
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is a govt. entity
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authorizes all PCAOB standards before they become effective
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Can reject company filings or suspend trading of company stocks
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All of the above
Pregunta 8
Pregunta
The GASB:
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Sets audit standards for auditors engaged in auditing not-for-profit entities.
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Regulates state and local governments.
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Set reporting standards for state and local government entities
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All of the above
Pregunta 9
Pregunta
Financial statements must be prepared:
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in accordance with GAAP
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in accordance with IFRS.
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in accordance with OCBOA
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Any of the above, depending on which set of standards the circumstances dictate as applicable.
Pregunta 10
Pregunta
The audit engagement team consists of:
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more than one partner.
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associates and seniors.
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Managers
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All of the above
Pregunta 11
Pregunta
Which of the following organizations is considered to be a public company?
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A firm whose privately held stock is owned exclusively by an individual.
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A partnership of doctors.
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A privately-held firm controlled by three family members
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A firm whose stock is registered with the SEC
Pregunta 12
Pregunta
The auditor
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prepares the financial statements after the client agrees to all adjustments.
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writes the footnotes to the financial statements to ensure their accuracy.
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performs work to reach an opinion on the ICFR and financial statements.
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None of the above
Pregunta 13
Pregunta
To which of the following would AICPA attest standards not apply?
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Standard for Accounting and Review Services (SSARS)
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Elder Care
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Loans under TALF
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Internal Control for nonpublic company
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