CPA Exam Auditing & Attestation

Question 1 of 5

Medal-premium 1

Which of the following circumstances most likely would cause an auditor to consider whether material misstatements exist in an entity's financial statements?

Select one of the following:

  • Supporting records that should be readily available are frequently not produced when requested.

  • Reportable conditions previously communicated have not been corrected.

  • Clerical errors are listed on a monthly computer-generated exception report.

  • Differences are discovered during the client's annual physical inventory count.

Question 2 of 5

Medal-premium 1

An auditor is testing internal control procedures that are evidenced on an entity's vouchers by matching random numbers with voucher numbers. If a random number matches the number of a voided voucher, that voucher ordinarily should be replaced by another voucher in the random sample if the voucher:

Select one of the following:

  • Constitutes an exception.

  • Has been properly voided.

  • Cannot be located

  • Represents an immaterial dollar amount.

Question 3 of 5

Medal-premium 1

In evaluating the reasonableness of an accounting estimate, an auditor most likely would concentrate on key factors and assumptions that are:

Select one of the following:

  • Consistent with prior periods.

  • Similar to industry guidelines.

  • Objective and not susceptible to bias.

  • Deviations from historical patterns.

Question 4 of 5

Medal-premium 1

An auditor may achieve audit objectives related to particular assertions by:

Select one of the following:

  • Performing analytical procedures

  • Adhering to a system of quality control

  • Preparing auditor working papers.

  • Increasing the level of detection risk.

Question 5 of 5

Medal-premium 1

Which of the following computer-assisted auditing techniques allows fictitious and real transactions to be processed together without client-operating personnel being aware of the testing process?

Select one of the following:

  • Integrated test facility.

  • Input controls matrix.

  • Parallel simulation.

  • Data entry monitor.


CPA Exam Auditing & Attestation

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Some sample questions for the auditing and attestation part of the CPA Exam

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Created by nedtuohy over 2 years ago