4758805
Descripción
Test por clara.azurmendi, actualizado hace más de 1 año
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Creado por clara.azurmendi
hace alrededor de 8 años
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Pregunta 1
Pregunta
Evidence is used by which of the following professionals?
Respuesta
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Auditors
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Scientists
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Lawyers
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All of the above
Pregunta 2
Pregunta
An _________ programme is a list of audit procedures for an audit area or an entire audit.
Respuesta
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Control
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Evidence
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Data
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Audit
Pregunta 3
Pregunta
Characteristics that effect the reliability of evidence include:
Respuesta
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Independence of provider
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Timeliness of evidence
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Auditors direct knowledge
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All of the above
Pregunta 4
Pregunta
The following are all types of audit evidence except:
Respuesta
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Analytical procedures
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Physical examination
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Organization
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Confirmation
Pregunta 5
Pregunta
An insurance policy is an example of:
Respuesta
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External documents
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Other
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Internal documents
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Both external and internal documents
Pregunta 6
Pregunta
The Sarbanes-Oxley Act requires auditors of public companies to retain audit files for no less than:
Respuesta
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Ten years
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Twenty years
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Three years
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Seven years
Pregunta 7
Pregunta
Which of the following is an example of a supporting schedule which is support of specific amounts on the client's financial statements?
Respuesta
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A. Reconciliation
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B. Scanning
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C. Trial balances
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All of the above
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A and B only
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C and B only
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A and C only
Pregunta 8
Pregunta
If an auditor believes the financial statements of a client are not fairly presented then the auditor should:
Respuesta
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Notify users through an auditor report
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Report the findings to the government
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Notify the external users by advertising its findings
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All of the above
Pregunta 9
Pregunta
Fair representation in the financial statements:
Respuesta
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Rest with the creditors
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Rests with the shareholder
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Rests with the auditors
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Rests with the management
Pregunta 10
Pregunta
When an auditor believes a client is involved in illegal acts, the auditor should:
Respuesta
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Help the client destroy all evidence of the illegal act
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Go to management at a level above those likely to be involved in the potential illegal act
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Withdraw from the engagement immediately
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Go to the press
Pregunta 11
Pregunta
Audit objectives should be estimated for each of the following except:
Respuesta
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Management Reports
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Balances
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Transactions
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Presentations and Disclosures
Pregunta 12
Pregunta
_____________ uses comparison and relationship to assess whether account balances or other data appear reasonable.
Respuesta
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Test of details
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Internal details
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Analytical procedures
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Walk through tests
Pregunta 13
Pregunta
___________ judgment should be used when setting and applying materiality guidelines.
Respuesta
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Professional
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Minimum
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Amateur
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Maximum
Pregunta 14
Pregunta
Materiality is allocated to accounts on the balance sheet while keeping the following items in mind:
Respuesta
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Certain accounts
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Audit costs of the allocation
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Overstatements and understatements
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All the above
Pregunta 15
Pregunta
The risk that the portion of the population selected for review does not accurately represent the population, is what type of risk?
Respuesta
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Sampling
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Audit
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Detection
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Inherent
Pregunta 16
Pregunta
As inherent risk increases, planned detection risk
Respuesta
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Stays the same
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Increases
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Decreases
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Becomes negative
Pregunta 17
Pregunta
If the level of audit assurance is 97%, the level of acceptable audit risks is
Respuesta
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7%
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3%
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5%
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10%
Pregunta 18
Pregunta
In evaluating engagement risks, the auditor should be aware of items such as:
Respuesta
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The clients previous year's profits
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The clients method of financing growth
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The client liquidity position
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All of the above
Pregunta 19
Pregunta
Factors affecting inherent risks include:
Respuesta
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A. Non routine transaction
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B. Internal controls
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C. Initial audit
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All of the above
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A and B only
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A and C only
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B and C only
Pregunta 20
Pregunta
The major limitation of using the audit risk model is the:
Respuesta
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Objective nature of its components
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There is no limitation to the model
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Application of the model
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Subjective nature of its components
Pregunta 21
Pregunta
Because of legal liability and loss of professional reputation most auditors are concerned about:
Respuesta
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A. Status- quo auditing
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B. Over-auditing
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C. Under-auditing
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All of the above
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A and B only
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A and C only
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B and C only
Pregunta 22
Pregunta
Materiality and risk are_________ related.
Respuesta
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Inversely
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Directly
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Equally
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None of the above
Pregunta 23
Pregunta
_________ smoothing is a form of earning management in which revenues and expenses are shifted between periods to reduce fluctuations in earnings.
Respuesta
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Expense
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Equity
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Revenue
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Income
Pregunta 24
Pregunta
Fraudulent financial reporting may be contributed to:
Respuesta
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External Performance Pressures
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Lack of Segregation of Duties
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Internal Performance Pressures
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All of the above
Pregunta 25
Pregunta
If an auditor discovers fraud, an auditor should:
Respuesta
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Conduct further investigations
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Approach the appropriate level of management
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Consider withdrawing from the audit if the fraud is significant
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All of the above
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