Auditing is based on the assumption that financial data and statements are a. Verifiable b. In conformity with the identified applicable financial reporting framework c. Presented fairlyd. Consistently applied

Auditing is based on the assumption that
financial data and statements are
a. Verifiable
b. In conformity with the identified
applicable financial reporting framework
c. Presented fairly
d. Consistently applied
by

1 Answer

Answer :

Verifiable
by

Related questions

Auditing is based on the assumption that financial data are verifiable. Data are verifiable when two or more qualified individuals, a. Working together, can prove, beyond doubt, the accuracy of the data. b. Working independently, can prove, beyond reasonable doubt, the truthfulness of the data. c. Working independently, each reach essentially similar conclusions. d. Working together, can agree upon the accuracy of the data

Description : Auditing is based on the assumption that financial data are verifiable. Data are verifiable when two or more qualified individuals, a. Working together, can prove, beyond doubt, the accuracy of ... reach essentially similar conclusions. d. Working together, can agree upon the accuracy of the data

Last Answer : Working independently, each reach essentially similar conclusions

Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. Remoteness of users. b. An audit benefits the public. c. The data to be audited are verifiable. d. Auditor should maintain independence with respect to the audit client

Description : Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. Remoteness of users. b. An audit benefits the public. c. The data to be audited are verifiable. d. Auditor should maintain independence with respect to the audit client

Last Answer : Remoteness of users

The auditor's judgment concerning the overall fairness of presentation of financial position, results of operation, and changes in cash flow is applied within the framework of a. Generally accepted auditing standards which include the concept of materiality b. Generally accepted accounting principles. c. Philippine Financial Reporting Standards d. Quality control

Description : The auditor's judgment concerning the overall fairness of presentation of financial position, results of operation, and changes in cash flow is applied within the framework of a. ... b. Generally accepted accounting principles. c. Philippine Financial Reporting Standards d. Quality control

Last Answer : Philippine Financial Reporting Standards

The criteria for evaluating quantitative information vary. For example, in the audit of historical financial statements by CPA firms, the criteria are usually: a. Generally accepted auditing standards. b. Acceptable financial reporting framework c. Regulations of the Securities and Exchange Commission d. Regulations of the Bureau of Internal Revenue

Description : The criteria for evaluating quantitative information vary. For example, in the audit of historical financial statements by CPA firms, the criteria are usually: a. Generally accepted auditing ... Regulations of the Securities and Exchange Commission d. Regulations of the Bureau of Internal Revenue

Last Answer : Acceptable financial reporting framework

Which of the following statements is correct concerning an auditor's responsibilities regarding financial statements? a. The auditor's report should provide an assurance as to the future viability of the entity. b. Making suggestions that are adopted about the form and content of an entity's financial statements impairs an auditor's independence. c. An auditor's responsibilities for audited financial statements are confined to the expression of the auditor's opinion. d. The fair presentation of audited financial statements in accordance with an applicable financial reporting framework is an implicit part of the auditor's responsibilities

Description : Which of the following statements is correct concerning an auditor's responsibilities regarding financial statements? a. The auditor's report should provide an assurance as to the future ... with an applicable financial reporting framework is an implicit part of the auditor's responsibilities

Last Answer : An auditor's responsibilities for audited financial statements are confined to the expression of the auditor's opinion

The auditor's understanding of the entity and its environment consists an understanding of the following aspects: a. Industry, regulatory and other external factors, including the applicable financial reporting framework b. Nature of the entity, including the entity's selection and application of accounting policies c. Objectives and strategies and the related business risks that may result in a material misstatement of the financial statements d. All of these.

Description : The auditor's understanding of the entity and its environment consists an understanding of the following aspects: a. Industry, regulatory and other external factors, including the applicable financial reporting ... may result in a material misstatement of the financial statements d. All of these.

Last Answer : All of these.

Professional judgment:a. Is not used in making decisions about materiality and audit risk. b. Is necessary in the evaluation of management's judgments in applying the entity's applicable financial reporting framework. c. Should be exercised in planning and performing an audit of financial statements but need not be documented. d. Can be used as the justification for the decisions made by the auditor that are not supported by the facts and circumstances of the engagement

Description : Professional judgment:a. Is not used in making decisions about materiality and audit risk. b. Is necessary in the evaluation of management's judgments in applying the entity's applicable financial ... made by the auditor that are not supported by the facts and circumstances of the engagement

Last Answer : Is necessary in the evaluation of management's judgments in applying the entity's applicable financial reporting framework

The purpose of an audit of financial statements is to a. Obtain an absolute level of assurance that the financial statements as a whole are free from material misstatement. b. Relieve management or those charged with governance of the responsibility for the preparation and presentation of the financial statements in accordance with the applicable financial reporting framework. c. Enhance the degree of confidence of intended users in the financial statements. d. Assure the future viability of the entity by expressing an opinion on the entity's financial statements.

Description : The purpose of an audit of financial statements is to a. Obtain an absolute level of assurance that the financial statements as a whole are free from material misstatement. b. Relieve management ... the future viability of the entity by expressing an opinion on the entity's financial statements.

Last Answer : Enhance the degree of confidence of intended users in the financial statements.

PSA 315 requires that the auditor should obtain an understanding' of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the following is not an example of matters relating to regulatory environment that the auditor would usually consider? a. Regulatory framework for a regulated industry. b. Product technology relating to the entity's product. c. Legislation and regulation significantly affecting the entity's operationd. Taxation

Description : PSA 315 requires that the auditor should obtain an understanding' of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the ... product. c. Legislation and regulation significantly affecting the entity's operation d. Taxation

Last Answer : Product technology relating to the entity's product

The auditor's understanding of the entity and its environment consists of an understanding of the following aspects except a. Industry, regulatory, and other external factors, including the applicable financial reporting framework. b. Nature of the entity, including the entity's selection and application of accounting policies. c. Measurement and review of the entity's financial performance. d. Entity's selection and screening process of marketing and production personnel.

Description : The auditor's understanding of the entity and its environment consists of an understanding of the following aspects except a. Industry, regulatory, and other external factors, including the ... financial performance. d. Entity's selection and screening process of marketing and production personnel.

Last Answer : Entity's selection and screening process of marketing and production personnel.

PSA 315 requires that the auditor should obtain an understanding of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the following is not among the items that relate to industry conditions? a. Energy, supply and cost b. Inflation and currency revaluation c. Market and competition d. Cyclical or seasonal activity

Description : PSA 315 requires that the auditor should obtain an understanding of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the ... Inflation and currency revaluation c. Market and competition d. Cyclical or seasonal activity

Last Answer : Inflation and currency revaluation

Which of the following is an incorrect statement relating to the theoretical framework of auditing? a. Effective internal control structure reduces the probability of fraud or irregularities in an organization. b. Application of generally accepted accounting principles results in a fair presentation of financial statements. c. When examining financial data foropinion thereon, the auditor actsexclusively in the capacity of an auditor.d. In collecting evidence, auditorsshould maintain an attitude of trustabout their clients' assertions. the purpose of expressing an independent

Description : Which of the following is an incorrect statement relating to the theoretical framework of auditing? a. Effective internal control structure reduces the probability of fraud or irregularities in ... collecting evidence, auditors should maintain an attitude of trust about their clients' assertions.

Last Answer : In collecting evidence, auditors should maintain an attitude of trust about their clients' assertions.

The audit of historical financial statements should be conducted by the CPA professionals in accordance with a. The auditor's judgment. b. The audit program. c. Philippine Financial Reporting Standards. d. Philippine Standards on Auditing

Description : The audit of historical financial statements should be conducted by the CPA professionals in accordance with a. The auditor's judgment. b. The audit program. c. Philippine Financial Reporting Standards. d. Philippine Standards on Auditing

Last Answer : Philippine Standards on Auditing

The criteria for evaluating quantitative information vary. For example, in the case of an independent audit of financial statements by CPA firms, the criteria are usually the: a. Philippine Standards on Auditing b. Philippine Financial Reporting Standards c. National Internal Revenue Code d. Securities and Exchange Commission Regulations

Description : The criteria for evaluating quantitative information vary. For example, in the case of an independent audit of financial statements by CPA firms, the criteria are usually the: a. ... Financial Reporting Standards c. National Internal Revenue Code d. Securities and Exchange Commission Regulations

Last Answer : Philippine Financial Reporting Standards

In the case of an audit of financial statements, which of the following would not be a valid criterion in ascertaining the degree of correspondence between assertions and established criteria? a. International Accounting Standards b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Description : In the case of an audit of financial statements, which of the following would not be a valid criterion in ascertaining the degree of correspondence between assertions and established ... . Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Last Answer : Philippine Standards on Auditing

When management refuses to disclose in the financial statements noncompliance to laws and regulations which are identified by the independent auditor, the CPA may be charged with unethical conduct for a. Withdrawing from the engagement. b. Issuing a disclaimer of opinionc. Failure to uncover the noncompliance to laws and regulations during the prior audits. d. Reporting these activities to the audit committee..

Description : When management refuses to disclose in the financial statements noncompliance to laws and regulations which are identified by the independent auditor, the CPA may be charged with unethical conduct for ... and regulations during the prior audits. d. Reporting these activities to the audit committee.

Last Answer : Issuing a disclaimer of opinion

Management’s assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b. They embody the audit procedures that will be performed by the audit engagement team. c. They include representations of financial statements in accordance with the applicable reporting criteria d. They relate to regulator’s expectations about audit results

Description : Management's assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b ... with the applicable reporting criteria d. They relate to regulator's expectations about audit results

Last Answer : They include representations of financial statements in accordance with the applicable reporting criteria

Management’s assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b. They embody the audit procedures that will be performed by the audit engagement team. c. They include representations of financial statements in accordance with the applicable reporting criteria d. They relate to regulator’s expectations about audit results

Description : Management's assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b ... with the applicable reporting criteria d. They relate to regulator's expectations about audit results

Last Answer : They include representations of financial statements in accordance with the applicable reporting criteria

An audit of financial statements is conducted to determine if the a. Organization is operating efficiently and effectively b. Client's internal control is functioning as intended. c. Auditee is following specific procedures or rules set down by some higher authority d. Overall financial statements are stated in accordance with an identified financial reporting framework

Description : An audit of financial statements is conducted to determine if the a. Organization is operating efficiently and effectively b. Client's internal control is functioning as intended. c. ... d. Overall financial statements are stated in accordance with an identified financial reporting framework

Last Answer : Overall financial statements are stated in accordance with an identified financial reporting framework

Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. An audit benefits the public. b. The data to be audited can be verified. c. Auditors act on behalf of management. d. Short-term conflicts may exist between managers who prepare data and auditors who examine the data

Description : Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. An audit benefits the public. b. The data to be audited can be verified. c. ... . d. Short-term conflicts may exist between managers who prepare data and auditors who examine the data

Last Answer : Auditors act on behalf of management

The Philippine Standards on Auditing issued by AASC a. Need to be applied on all audit related. b. Require that in no circumstances would an auditor may judge it necessary to depart from a PSA, even though such a departure may result to more effective achievement of the objective of an audit. c. Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion. d. Must not apply to other related activities of auditors

Description : The Philippine Standards on Auditing issued by AASC a. Need to be applied on all audit related. b. Require that in no circumstances would an auditor may judge it necessary to depart from a PSA, ... for the purpose of expressing an opinion. d. Must not apply to other related activities of auditors

Last Answer : Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion.

The Philippine Standards on Auditing issued by AASC: a. Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion. b. Need to be applied on all audit related. c. Must not apply to other related activities of auditors. d. Require that in no circumstances would an auditor may judge it necessary to depart from a PSA, even though such a departure may result to more effective achievement of the objective of an audit

Description : The Philippine Standards on Auditing issued by AASC: a. Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an ... though such a departure may result to more effective achievement of the objective of an audit

Last Answer : Apply to independent examination of financial statements of any entity when such an examination is conducted for the purpose of expressing an opinion

Which of the following types of audits is performed to determine whether an entity's financial statements are fairly stated in conformity with generally accepted accounting principles? a. Operational audit b. Compliance audit c. Performance audit d. Financial statement audit

Description : Which of the following types of audits is performed to determine whether an entity's financial statements are fairly stated in conformity with generally accepted accounting principles? a. Operational audit b. Compliance audit c. Performance audit d. Financial statement audit

Last Answer : Financial statement audit

Which of the following statements is incorrect about materiality? a. The concept of materiality recognizes that some matters are important for fair presentation of financial statements in conformity with GAAP, while other matters are not important. b. An auditor considers materiality for planning purposes in terms of the largest aggregate level of misstatements that could be material to any one of the financial statements. c. Materiality judgments are made in light of surrounding circumstances and necessarily involve both quantitative and qualitative judgments. d. An auditor’s consideration of materiality is influenced by the auditor’s perception of the needs of a reasonable person who will rely on the financial statements

Description : Which of the following statements is incorrect about materiality? a. The concept of materiality recognizes that some matters are important for fair presentation of financial statements in conformity with ... s perception of the needs of a reasonable person who will rely on the financial statements

Last Answer : An auditor considers materiality for planning purposes in terms of the largest aggregate level of misstatements that could be material to any one of the financial statements

Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors know how the amounts and disclosures in the financial statements were produced. b. Auditors gathered enough evidence to provide a reasonable basis for forming an opinionc. Auditors give assurance that thefinancial statements are accurate.d. If the evidence allows the auditors to doso, auditors give assurance in the form ofopinion, as to whether the financialstatements taken as a whole are fairlypresented in conformity with GAAP

Description : Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors know how the amounts and disclosures in the financial statements ... as to whether the financial statements taken as a whole are fairly presented in conformity with GAAP

Last Answer : Auditors give assurance that the financial statements are accurate

A CPA who is engaged to prepare an income tax return has a duty to prepare it in such a manner that the tax is: a. The legal minimum. b. Computed in conformity with generally accepted accounting principles. c. Supported by the client’s audited financial statements. d. Not subject to change upon audit

Description : A CPA who is engaged to prepare an income tax return has a duty to prepare it in such a manner that the tax is: a. The legal minimum. b. Computed in conformity with generally accepted ... principles. c. Supported by the client's audited financial statements. d. Not subject to change upon audit

Last Answer : The legal minimum

Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors give assurance that the financial statements are accurate. b. Auditors know how the amounts and disclosures in the financial statements were produced. c. Auditors gathered enough evidence to provide a reasonable basis for forming an opinion. d. If the evidence allows the auditors to doso, auditors give assurance in the form ofopinion, as to whether the financialstatements taken as a whole are fairlypresented in conformity with GAAP

Description : Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors give assurance that the financial statements are accurate. b. ... as to whether the financial statements taken as a whole are fairly presented in conformity with GAAP

Last Answer : Auditors give assurance that the financial statements are accurate

.In financial statement audits, the audit process should be conducted in accordance with a. The audit program b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Description : .In financial statement audits, the audit process should be conducted in accordance with a. The audit program b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Last Answer : Philippine Standards on Auditing

The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified Public Accountants (PICPA) b. Auditing and Assurance Standards Council (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

Description : The integrated national professional organization of Certified Public Accountants accredited by the BOA and the PRC per PRC accreditation No. 15 dated October 2, 1975. a. Philippine Institute of Certified ... (AASC) c. Financial Reporting Standards Council (FRSC) d. Education Technical Council (ETC)

Last Answer : Philippine Institute of Certified Public Accountants (PICPA)

In financial statement audits, the audit process should be conducted in accordance with a. Philippine Financial Reporting Standards b. International Accounting Standards c. Philippine Standards on Auditing d. Philippine Accounting Standards

Description : In financial statement audits, the audit process should be conducted in accordance with a. Philippine Financial Reporting Standards b. International Accounting Standards c. Philippine Standards on Auditing d. Philippine Accounting Standards

Last Answer : Philippine Standards on Auditing

Which of the following is the authoritative body designated to promulgate auditing standards? a. Financial Reporting Standards Council b. PICPA c. Association of CPAs in Public Practice and PICPA d. Auditing and Assurance Standards Council

Description : Which of the following is the authoritative body designated to promulgate auditing standards? a. Financial Reporting Standards Council b. PICPA c. Association of CPAs in Public Practice and PICPA d. Auditing and Assurance Standards Council

Last Answer : Auditing and Assurance Standards Council

Which of the following actions would be an appropriate response by companies to improve the public's perception of their financial reporting? a. Requiring internal auditors to report all significant findings of fraud and illegal activity to the company president. b. Increased adoption of audit committees. c. Keeping external and internal auditing work separated to maintain independence. d. None of the above.

Description : Which of the following actions would be an appropriate response by companies to improve the public's perception of their financial reporting? a. Requiring internal auditors to report all significant ... external and internal auditing work separated to maintain independence. d. None of the above.

Last Answer : Increased adoption of audit committees.

The following are represented both to the Financial Reporting Standards Council (FRSC) and Auditing and Assurance Standards Council (AASC), except: a. Bangko Sentral ng Pilipinas b. Securities and Exchange Commission c. Bureau of Internal Revenue d. Board of Accountancy

Description : The following are represented both to the Financial Reporting Standards Council (FRSC) and Auditing and Assurance Standards Council (AASC), except: a. Bangko Sentral ng Pilipinas b. Securities and Exchange Commission c. Bureau of Internal Revenue d. Board of Accountancy

Last Answer : Bureau of Internal Revenue

This standard-setting body replaces the Auditing Standards and Practices Council (ASPC) and is tasked to develop and issue Philippine Standards on Auditing and related Interpretations: a. Accounting Standards Board. b. Financial Reporting Standards Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Description : This standard-setting body replaces the Auditing Standards and Practices Council (ASPC) and is tasked to develop and issue Philippine Standards on Auditing and related Interpretations: a. ... Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Last Answer : Auditing and Assurance Standards Council.

This is the standard-setting body that replaces the Accounting Standards Council (ASC) and is tasked to develop and issue standards which will represent generally accepted accounting principles in the Philippines: a. Accounting Standards Board. b. Financial Reporting Standards Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Description : This is the standard-setting body that replaces the Accounting Standards Council (ASC) and is tasked to develop and issue standards which will represent generally accepted accounting principles in ... Committee. c. Financial Reporting Standards Council. d. Auditing and Assurance Standards Council.

Last Answer : Financial Reporting Standards Council.

Which of the following is true of the report based on agreed-upon-procedures? a. The report is restricted to those parties who have agreed to the procedures to be performed. b. The CPA provides the recipients of the report limited assurance as to reasonableness of the assertion(s) presented in the financial information. c. The report states that the auditor has not recognized any basis that requires revision of financial statements. d. The report should state that the procedures performed are limited to analytical procedures and inquiry

Description : Which of the following is true of the report based on agreed-upon-procedures? a. The report is restricted to those parties who have agreed to the procedures to be performed. b. The CPA ... . d. The report should state that the procedures performed are limited to analytical procedures and inquiry

Last Answer : The report is restricted to those parties who have agreed to the procedures to be performed

The phrase in our opinion in the auditor’s report is intended to inform users that auditors a. Guarantee fair presentation of the financial statements. b. Act as insurers of the accuracy of the financial statements. c. Certify the material presented in the statements by management. d. Based their conclusions about the statements on professional judgment

Description : The phrase in our opinion in the auditor's report is intended to inform users that auditors a. Guarantee fair presentation of the financial statements. b. Act as insurers of the ... presented in the statements by management. d. Based their conclusions about the statements on professional judgment

Last Answer : Based their conclusions about the statements on professional judgment

An attestation engagement is one in which a CPA is engaged to: a. Assemble prospective financial statements based on the assumptions of the entity's management without expressing any Testify as an expert witness in accounting, auditing or tax matters, given certain stipulated facts. b. assurance. c. Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party. d. Provide tax advice or prepare a tax return based on financial information the CPA has not audited or reviewed.

Description : An attestation engagement is one in which a CPA is engaged to: a. Assemble prospective financial statements based on the assumptions of the entity's management without expressing any Testify as an expert ... or prepare a tax return based on financial information the CPA has not audited or reviewed.

Last Answer : Issue a written communication expressing a conclusion about the reliability of a written assertion that is the responsibility of another party

An independent audit aids in the communication of economic data because the audit a. Lends credibility to the financial statements. b. Confirms the accuracy of management's financial representation. c. Guarantees that financial data are fairly presented. d. Assures the readers of financial statements that any fraudulent activity has been corrected

Description : An independent audit aids in the communication of economic data because the audit a. Lends credibility to the financial statements. b. Confirms the accuracy of management's financial representation. ... . d. Assures the readers of financial statements that any fraudulent activity has been corrected

Last Answer : Lends credibility to the financial statements.

The statement that the reviewer "is not aware of any material modification that should be made to the financial statementin order for them to be in conformity with GAAP" is known as: a. Positive assurance. b. Reasonable assurance. c. Negative assurance. d. Negligent performance.s

Description : The statement that the reviewer "is not aware of any material modification that should be made to the financial statements in order for them to be in conformity with GAAP" is known as: a. Positive assurance. b. Reasonable assurance. c. Negative assurance. d. Negligent performance.

Last Answer : Negative assurance.

The framework for auditing and related services as addressed by PSA excludes a. Review b. Compilation c. Tax services d. Agreed upon procedure

Description : The framework for auditing and related services as addressed by PSA excludes a. Review b. Compilation c. Tax services d. Agreed upon procedure

Last Answer : Tax services

Which of the following is a conceptual difference between the attestation standards and generally accepted auditing standards? a. The attestation standards do not permit an attest engagement to be part of a business acquisition study or a feasibility study. b. The attestation standards provide a framework for the attest function beyond historical financiastatements.c. The requirement that the practitioner beindependent in mental attitude is omittedfrom the attestation standard.d. None of the standards of fieldwork ingenerally accepted auditing standardsare included in the attestation standards

Description : Which of the following is a conceptual difference between the attestation standards and generally accepted auditing standards? a. The attestation standards do not permit an attest engagement ... standards of fieldwork in generally accepted auditing standards are included in the attestation standards

Last Answer : The attestation standards provide a framework for the attest function beyond historical financial statements.

The Framework of Philippine Standards on Auditing distinguishes audits from related services. Related services include all of the following, except a. Reviews. b. Compilations. c. Agreed-upon procedures. d. Management consulting.

Description : The Framework of Philippine Standards on Auditing distinguishes audits from related services. Related services include all of the following, except a. Reviews. b. Compilations. c. Agreed-upon procedures. d. Management consulting.

Last Answer : Management consulting.

The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Determine accounting practices that were consistently applied. b. Maintain an impartial attitude on all matters which come under his review. c. Determine the materiality of items. d. Insist on all matters regarding audit procedures.

Description : The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Determine accounting practices that were consistently ... . c. Determine the materiality of items. d. Insist on all matters regarding audit procedures.

Last Answer : Maintain an impartial attitude on all matters which come under his review.

The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Insist on all matters regarding audit procedures. b. Determine the materiality of items. c. Determine accounting practices that were consistently applied. d. Maintain an impartial attitude on all matters which come under his review

Description : The Code of Professional Ethics states, in part, that a CPA should maintain integrity and objectivity. Objectivity refers to the CPA's ability to a. Insist on all matters regarding audit ... were consistently applied. d. Maintain an impartial attitude on all matters which come under his review

Last Answer : Maintain an impartial attitude on all matters which come under his review

Which of the following underlies the application of generally accepted auditing standards, particularly the standards of fieldwork and reporting? a. Element of corroborating evidence b. Element of reasonable assurance c. Elements of materiality and risk d. Element of internal control

Description : Which of the following underlies the application of generally accepted auditing standards, particularly the standards of fieldwork and reporting? a. Element of corroborating evidence b. Element of reasonable assurance c. Elements of materiality and risk d. Element of internal control

Last Answer : Elements of materiality and risk

For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of accounting principles or any auditing and reporting standards discussed with management. b. Confirmation of material accounts receivable balance at the end of the year. c. Planned audit procedure to obtain sufficient appropriate audit evidence regarding opening balances. d. Assignment of firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks

Description : For initial audits, additional matters the auditor may consider in the overall audit strategy and audit plan include the following except a. Major issues including the application of ... firm personnel with appropriate levels of capabilities and competence to respond to anticipated significant risks

Last Answer : Confirmation of material accounts receivable balance at the end of the year.