Auditing Assignment I
Auditing Assignment I
Auditing Assignment I
C. Tax
D. All of these
2. The main necessity for conducting the audit of financial statements stems from the fact
that
A. the persons responsible for the preparation of financial statements are often different
from the owners of large corporations.
B. the persons responsible for the preparation of financial statements are often the same as
the owners of large corporations.
C. accountants normally commit errors which should be inspected by auditors.
D. shareholders have to rely on internal verification by auditors in order to gain reasonable
assurance that the accounts are free from material misstatements.
D. Time constraints
E. None of these
4. True and fair view in auditing means that the financial statements are
A. free from misstatements and accurately represent the financial performance and position
of the entity.
B. free from material misstatements and faithfully represent the financial performance and
position of the entity.
C. free from misstatements and faithfully represent the financial performance and position of
the entity.
D. free from material misstatements and accurately represent the financial performance and
position of the entity.
C. Compliance
D. Tax audit
7. A CPA in public practice may not disclose confidential client information regarding
auditing services without the clients consent in response to which of the following
situations?
A.
B.
C.
D.
Spouse
Spousal equivalent
Dependent children
Non-dependent children
What are the most common causes of information risk? How can the risk be reduced?
Notice that you are requested to submit your answers for ONLY the short answer type
questions (part II).
Submission deadline: Friday December 9, 2016