MCQ3

1

Which of the following is not one of the major categories of auditor's services?

1

Planning means developing a general strategy and a detailed approach for the expected:

1

Materiality and risk are_________ related.

1

Financial involvement with a client will affect independence and may lead a reasonable observer to conclude that independence has been impaired. Which of the following is not a form of financial involvement with a client?

1

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

1

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

1

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

1

___________ smoothing is a form of earning management in which revenues and expenses are shifted between periods to reduce fluctuations in earnings.

1

Fraudulent financial reporting may contribute to:

1

If an auditor discovers fraud, an auditor should:

1

The following stages comprise a typical money laundering process. What is the right sequence of the process ?
Creating layers of financial transactions
Breaking up large amounts of cash into smaller sums and placing them into the financial system
Integrating the money into the economic system as if it is "clean" and comes from legitimate sources

1

Financial involvement with a client will affect independence and may lead a reasonable observer to conclude that independence has been impaired. Which of the following is not a form of financial involvement with a client?

1

An auditor makes inquiries of inventory control and sales personnel concerning possible obsolete or slow moving inventory to verify:

1

Which of the following is not correct about independence of mind?

1

The auditor with the responsibility for reporting is:

1

The terms of the engagement include consideration of what is to be done (the objective, scope and report of the audit), by whom and:

1

All of the following are audit procedures in the audit of Accounts Payable and Accruals except:

1

Which of the following standards are not issued by the International Auditing and Assurance Standards Board?

1

The standards given in 'Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement', (ISA 315) emphasise:

1

How does the related services framework differ from the assurance framework?

1

In an agreed-upon procedures engagement what matters generally have to be agreed between auditor and management?

1

A Letter of Representation includes all the following matters except:

1

Which of the following matters is not ordinarily included in a management representations letter?

1

Which of the following is not a procedure to obtain an understanding of risk in the planning stage (described in ISA 315):

1

If an auditor discovers fraud, an auditor should

1

Fraudulent financial reporting may be caused by:

1

In cases when a new auditor will replace an existing auditor, the code of ethics advises the new auditor to:

1

All of the following factors influence the continuance of an existing auditor-client relationship except:

1

Which of the following might be a commonly used guideline related to a financial statement materiality base?

1

Which of the following papers would normally be retained on the permanent file maintained for a limited company audit client?

Advanced Audit Principles and Practice students UoW

MCQ3

Which of the following is not one of the major categories of auditor's services?

Planning means developing a general strategy and a detailed approach for the expected:

Materiality and risk are_________ related.

Financial involvement with a client will affect independence and may lead a reasonable observer to conclude that independence has been impaired. Which of the following is not a form of financial involvement with a client?

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

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

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

___________ smoothing is a form of earning management in which revenues and expenses are shifted between periods to reduce fluctuations in earnings.

Fraudulent financial reporting may contribute to:

If an auditor discovers fraud, an auditor should:

Financial involvement with a client will affect independence and may lead a reasonable observer to conclude that independence has been impaired. Which of the following is not a form of financial involvement with a client?

An auditor makes inquiries of inventory control and sales personnel concerning possible obsolete or slow moving inventory to verify:

Which of the following is not correct about independence of mind?

The auditor with the responsibility for reporting is:

The terms of the engagement include consideration of what is to be done (the objective, scope and report of the audit), by whom and:

All of the following are audit procedures in the audit of Accounts Payable and Accruals except:

Which of the following standards are not issued by the International Auditing and Assurance Standards Board?

The standards given in 'Understanding the Entity and Its Environment and Assessing the Risks of Material Misstatement', (ISA 315) emphasise:

How does the related services framework differ from the assurance framework?