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QUIZ-1-6-Audit | Download for quality grades |

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QUIZ 1 1. Which of the following types of auditing is performed on a contractual basis? Ans: External auditing 2. Clear, comprehensive and not subject to different interpretations, criteria that de... scribes Ans: Understandability 3. An objective of operational audit is to assess whether Ans: An organization's procedures adhere to specific procedures set by an authoritative body 4. It is the risk that a practitioner expresses an inappropriate conclusion when the subject matter is materially misstated Ans: Assurance engagement risk 5. Timely arrival to a conclusion by the intended users describes this suitable criteria Ans: Relevance 6. This audit pertains to the determination whether an entity's FS are fairly presented in conformity with GAAP QUIZ 2 1. The Board shall submit to the Commission the ratings obtained by each candidate within a. 10 calendar days after the examination b. 2 calendar days after the examination c. 5 calendar days after the examination d. 15 calendar days after the examination 2. Which of the following statements appropriately describes inquiry a. examining records or documents, whether internal or external in paper form, electronic form or other media b. physical examination of assets c. consists of seeking information from a knowledgeable persons, both financial and nonfinancial, within or outside of the entity d. consists of looking at process or procedures being performed by others 3. Arrangements concerning with which of the following are least likely to be included in the engagement letter a. Fees and billing b. Other services to be provided in addition to audit c. A previous auditor d. CPA investment in client securities [Show More]

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