3935572
Descrição
Quiz por Vicki Myers, atualizado more than 1 year ago
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Criado por Vicki Myers
aproximadamente 9 anos atrás
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Questão 1
Questão
A square in a flow chart indicates
Responda
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terminator
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decision
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manual loop
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process
Questão 2
Questão
Which of the following is not a Generally Accepted Privacy Principle (GAPP)?
Responda
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Retention and disposal
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Quality
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Processing integrity
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Collection
Questão 3
Questão
The objective of AU-C 500 is to obtain written representations from management that they believe they have fulfilled their responsibilities in regards to the financial statements.
Responda
- True
- False
Questão 4
Questão
Which type of opinion means that there is sufficient appropriate evidence, but there is a material misstatement and it is pervasive through the financial statements?
Responda
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unqualified
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adverse
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disclaimer of opinion
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qualified
Questão 5
Questão
Which of the following are components of the control environment? (more than 1)
Responda
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risk assessments
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commitment to integrity and ethical values
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notice
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monitoring activities
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financial reporting competencies
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management's philosophy
Questão 6
Questão
What does a parallelogram represent in a flow chart?
Responda
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decision
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document
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internal process
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data
Questão 7
Questão
Susceptibility to loss, nature of the account, accounting complexities, and planning materiality are all qualitative factors in determining if an account is significant.
Responda
- True
- False
Questão 8
Questão
If the company being audited is a publicly listed corporation, the auditor must put an opinion as to the effectiveness of internal controls.
Responda
- True
- False
Questão 9
Questão
The objective of the audit of GAAP-based financial statements is to
Responda
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Express an opinion on the accuracy with which the statements present financial position, results of operations, and cash flows in accordance with generally accepted accounting principles.
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Express an opinion on the fairness with which the statements present financial position, results of operations, and cash flows in accordance with generally accepted accounting principles.
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Make suggestions as to the form or content of the financial statements or to draft them in whole or in part
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Ensure adoption of sound accounting policies and the establishment and maintenance of internal control
Questão 10
Questão
Which of the following statements about audit evidence is true?
Responda
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A client’s accounting records can be sufficient audit evidence to support the financial statements
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The sufficiency and appropriateness of audit evidence is a matter of professional judgment.
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To be appropriate, audit evidence should be either persuasive or relevant but need not be both.
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The difficulty and expense of obtaining audit evidence about an account balance is a valid basis for omitting the test.
Questão 11
Questão
How many Generally Accepted Privacy Principles are there?
Responda
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5
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7
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10
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4
Questão 12
Questão
A company has made a material change in its method of inventory measurement from an
unacceptable one to one in accordance with the applicable financial reporting framework.
The auditor’s report on the financial statements of the year of the change should include
Responda
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Justification for the change and the effect of the change on reported net income.
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A reference to the entity’s disclosure of the correction.
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A note explaining the change.
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No reference to consistency.
Questão 13
Questão
It is the duty of management to maintain internal controls, prepare the financial statements, and to provide all the information the auditor needs.
Responda
- True
- False
Questão 14
Questão
The auditor should issue written communication stating that no significant deficiencies were identified.
Responda
- True
- False
Questão 15
Questão
Who developed the Systrust service
Responda
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Canadian Institute of Chartered Accountants
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PCAOB and AICPA
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AICPA
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PCAOB
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AICPA and Canadian Institute of Chartered Accountants
Questão 16
Questão
When considering the use of management’s written representations as audit evidence
about the completeness assertion, an auditor should understand that such representations
Responda
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Constitute sufficient appropriate evidence to support the assertion when considered in combination with sufficiently low assessed risks of material misstatement.
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Complement, but do not replace, substantive procedures designed to support the assertion.
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Replace low assessed risks of material misstatement as evidence to support the assertion.
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Are not part of the evidence considered to support the assertion.
Questão 17
Questão
A limitation on the scope of an audit sufficient to preclude an unmodified opinion will
usually result when management
Responda
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Does not make the minutes of the board of directors’ meetings available to the auditor.
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Asks the auditor to report on the balance sheet and not on the other basic financial statements.
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Presents financial statements that are prepared in accordance with the cash receipts and disbursements basis of accounting
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States that the financial statements are not intended to be presented in accordance with generally accepted accounting principles
Questão 18
Questão
A continuing auditor should update the report on prior financial statements by issuing a
report modified for the
Responda
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Resolution of an uncertainty related to and discovered in the current period.
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Determination in the current period that a substantial doubt exists about the entity’s ability to continue as a going concern for a reasonable time.
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Removal in the current period of doubt about the entity’s ability to continue as a going concern.
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Purchase and consolidation of a new company by the client.
Questão 19
Questão
Which of the following statements about internal control is true?
Responda
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The establishment and maintenance of internal control are important responsibilities of the internal auditor
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A limitation of internal control is that management makes judgments about the extent of controls it implements
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Exceptionally effective internal control is enough for the auditor to eliminate substantive procedures on a significant account balance
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Properly maintained internal control reasonably ensures that collusion among employees cannot occur
Questão 20
Questão
A CPA has previously communicated a significant control deficiency in connection with an audit of prior financial statements of a non-issuer. As of the current audit date, the deficiency has not been corrected. What communication should be made by the CPA?
Responda
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A new communication is required only if the auditor has relied on the controls
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A new communication is required only if it involves an area in which the auditor has not relied on the controls
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The condition should be reported
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None, because management has been previously put on notice and now has sole responsibility
Questão 21
Questão
An auditor should communicate misstatements to those charged with governance
Responda
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even if they are clearly trivial
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if they were not recorded before the end of the auditor's field work
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if they are uncorrected
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if they are immaterial and corrected but frequently recurring
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