1. Which of the following best describes what is meant by generally accepted auditing standards?
a. Acts to be performed by the auditors
b. Measures of the quality of the auditors' performance
c. Procedures to be used to gather evidence to support financial statements
d. Audit objectives generally determined on audit engagements
2. The procedures deemed necessary in the circumstances to achieve the
objective of the audit shall be determined by the
a. Client management c. Internal auditor
b. Independent auditor d. Those charged with
governance
3. Which of the following professionals has primary responsibility for the performance of an audit?
a. The managing partner of the firm c. The manager assigned to the
engagement
b. The senior assigned to the engagement d. The partner in charge of the
engagement
4. Which of the following has the primary responsibility for the fairness of the
representations made in the financial statements?
a. Client’s management c. Independent auditor
b. Audit committee d. Board of Accountancy
5. Which of the following standards are to be applied, as appropriate, in the
audit of historical financial information?
a. PSREs c. PSRSs
b. PSAEs d. PSAs
6. What level of assurance is provided by the auditor in an audit engagement?
a. Absolute c. Moderate
b. High, but not absolute d. No assurance
7. The review of a company's financial statements by a CPA firm
a. Is substantially less in scope of procedures than an audit
b. Requires detailed analysis of the major accounts
c. Is of similar scope as an audit and adds similar credibility to the statements.
Culminates in issuance of a report expressing
1. Which of the following best describes what is meant by generally accepted auditing standards?
a. Acts to be performed by the auditors
b. Measures of the quality of the auditors' performance
c. Procedures to be used to gather evidence to support financial statements
d. Audit objectives generally determined on audit engagements
2. The procedures deemed necessary in the circumstances to achieve the
objective of the audit shall be determined by the
a. Client management c. Internal auditor
b. Independent auditor d. Those charged with
governance
3. Which of the following professionals has primary responsibility for the performance of an audit?
a. The managing partner of the firm c. The manager assigned to the
engagement
b. The senior assigned to the engagement d. The partner in charge of the
engagement
4. Which of the following has the primary responsibility for the fairness of the
representations made in the financial statements?
a. Client’s management c. Independent auditor
b. Audit committee d. Board of Accountancy
5. Which of the following standards are to be applied, as appropriate, in the
audit of historical financial information?
a. PSREs c. PSRSs
b. PSAEs d. PSAs
6. What level of assurance is provided by the auditor in an audit engagement?
a. Absolute c. Moderate
b. High, but not absolute d. No assurance
7. The review of a company's financial statements by a CPA firm
a. Is substantially less in scope of procedures than an audit
b. Requires detailed analysis of the major accounts
c. Is of similar scope as an audit and adds similar credibility to the statements.
Culminates in issuance of a report expressing
1. Which of the following best describes what is meant by generally accepted auditing standards?
a. Acts to be performed by the auditors
b. Measures of the quality of the auditors' performance
c. Procedures to be used to gather evidence to support financial statements
d. Audit objectives generally determined on audit engagements
2. The procedures deemed necessary in the circumstances to achieve the
objective of the audit shall be determined by the
a. Client management c. Internal auditor
b. Independent auditor d. Those charged with
governance
3. Which of the following professionals has primary responsibility for the performance of an audit?
a. The managing partner of the firm c. The manager assigned to the
engagement
b. The senior assigned to the engagement d. The partner in charge of the
engagement
4. Which of the following has the primary responsibility for the fairness of the
representations made in the financial statements?
a. Client’s management c. Independent auditor
b. Audit committee d. Board of Accountancy
5. Which of the following standards are to be applied, as appropriate, in the
audit of historical financial information?
a. PSREs c. PSRSs
b. PSAEs d. PSAs
6. What level of assurance is provided by the auditor in an audit engagement?
a. Absolute c. Moderate
b. High, but not absolute d. No assurance
7. The review of a company's financial statements by a CPA firm
a. Is substantially less in scope of procedures than an audit
b. Requires detailed analysis of the major accounts
c. Is of similar scope as an audit and adds similar credibility to the statements.
Culminates in issuance of a report expressing
1. Which of the following best describes what is meant by generally accepted auditing standards?
a. Acts to be performed by the auditors
b. Measures of the quality of the auditors' performance
c. Procedures to be used to gather evidence to support financial statements
d. Audit objectives generally determined on audit engagements
2. The procedures deemed necessary in the circumstances to achieve the
objective of the audit shall be determined by the
a. Client management c. Internal auditor
b. Independent auditor d. Those charged with
governance
3. Which of the following professionals has primary responsibility for the performance of an audit?
a. The managing partner of the firm c. The manager assigned to the
engagement
b. The senior assigned to the engagement d. The partner in charge of the
engagement
4. Which of the following has the primary responsibility for the fairness of the
representations made in the financial statements?
a. Client’s management c. Independent auditor
b. Audit committee d. Board of Accountancy
5. Which of the following standards are to be applied, as appropriate, in the
audit of historical financial information?
a. PSREs c. PSRSs
b. PSAEs d. PSAs
6. What level of assurance is provided by the auditor in an audit engagement?
a. Absolute c. Moderate
b. High, but not absolute d. No assurance
7. The review of a company's financial statements by a CPA firm
a. Is substantially less in scope of procedures than an audit
b. Requires detailed analysis of the major accounts
c. Is of similar scope as an audit and adds similar credibility to the statements.
Culminates in issuance of a report expressing
