中国大学The Principle of Auditing期末答案(慕课2023课后作业答案)
48 min read中国大学The Principle of Auditing期末答案(慕课2023课后作业答案)
Chapter One
1、中国作业The大学答案答案 review of a company's financial statements by a CPA firm ( )
A、is 期末substantially less in scope of procedures than an audit.
B、requires detailed analysis 慕课of the major accounts.
C、is 课后of similar scope as an audit and adds similar credibility to the statements.
D、culminates in issuance of a report expressing the CPA's opinion as to the fairness of the statements
2、中国作业Which of the following types of services is 大学答案答案generally provided only by CPA firms?
A、Financial statement audits
B、期末Tax audits
C、慕课Compliance audits
D、课后Operational audits
3、中国作业Which of following has primary responsibility for the fairness of the representations made in the financial statements?大学答案答案
A、client's management
B、期末independent auditor
C、慕课Audit committee
D、课后AICPA
4、Which of the following is an example of a compliance audit?
A、An audit of a company's policies and procedures for adhering to environmental laws and regulations.
B、An audit of financial statements.
C、An audit of a company's internal control over financial reporting.
D、An audit of the efficiency and effectiveness of a company's legal department.
5、Which of the following audit can be implemented by internal auditor?
A、financial statement audit
B、compliance audit
C、operational audit
D、integrated audit
6、Operational audit includes audits of efficiency, effectiveness, and adequacy.
7、Integrated audit refers that the auditor implement the audit of financial statement and internal control together.
8、attestation services include examination, review and agree-upon procedures.
9、Review refers that an engagement designed to express ( ) assurance relating to subject matter or an assertion.
10、The professional staff or a typical national public accounting firm includes partners, senior auditors, ( ) and staff auditors.
Chapter Two
Chapter Two
1、financial statement audits performed under PCAOB requirements are designed to provide which types of assurance with respect to the detection of material misstatements due to errors or fraud?
A、reasonable and absolute
B、reasonable
C、absolute
D、not reasonable nor absolute
2、A basic objective of a CPA firm is to provide professional services that conform with professional standards. Reasonable assurance of achieving this basic objective is provided through:
A、compliance with genenrally accepted reporting standards
B、a system of quality control
C、a system of peer review
D、continuing professional education
3、Which of the following is not explicitly included in a standard report for a nonpublic company?
A、The CPA's opinion that the financial statements comply with genenrally accepted accounting prinicples.
B、That generally accepted auditing standards were followed during the audit
C、That internal control of the client was satisfactory.
D、An identification of the financial statements audited
4、Which of the following is not included in an integrated audit report on the financial statements of a public company?
A、The report states that the audit was performed in accordance with AICPA standards
B、The report indcates that the financial statements are he responsibility of management
C、The report indicates that the auditors have also audited the effectiveness of the company's internal control
D、The report is singed in the name of the CPA firm
5、Which is the responsibility of auditor?
A、obtaining reasonable assurance about whether the financial statements as whole ae free from material misstatements.
B、preparing the financial statements
C、designing the internal control
D、detecting the fraud
6、The elements of quality control include?
A、relevant ethical requirements
B、acceptance and continuance of client relationships
C、human resources
D、monitoring
7、Key audit matters are those matters, in auditors' judgments, are of most significance in audit of financial statements
8、AICPA issues standards applicable only to nonpublic accounting and auditing engagements.
9、The unqualified audit report should begin with "CPA's report" at the top.
10、The audit report indicates that management is responsible for the ( ) of the financial statements.
Chapter Three
Chapter Three
1、ABC Company is audited by the P office of XYZ CPAs, which of following individuals would be least likely to be considered a "covered member"by the independence standard?
A、staff assistant on the audit
B、An audit partner in the E office
C、A tax partner in P who preforms no attest services for ABC Company or for any other clients
D、The partner in charge of XYZ CPAs, who does no work on the ABC Company Audit
2、Auditors are periodically punished for holding an investment in a client. This violates which ethical rule?
A、Integrity
B、Independence
C、Non compliacne with GAAP
D、Confidentiality
3、Which of the following is not a broad category of threat to auditor independence?
A、Familiarity
B、Safeguards implemented by the client
C、Financial self interest
D、Undue Influence
4、A small CPA firm provides audit services to a large local company. Almost eighty percent of the CPA firm's revenues come from this client. Which statement is most likely to be true?
A、Appearance of independence may be lacking
B、The small CPA firm does not have the proficiency to perform a larger audit
C、The situation is satisfactory if the auditor exercises due skeptical negative assurance care in the audit.
D、The auditor should provide an "emphasis of a matter paragraph" to his/her audit report adequately disclosing this information and then it may issue an unqualified opinion.
5、Which of the following forms of advertising would most likely be considered not a violation of the Professional Code?
A、Advertising including the types of services offered and the standard fees for the services
B、Advertising including the experience of the firm's professional staff.
C、Advertising including an indication that the firm has a close relationship with several tax court judges.
D、Advertising including the percentage of the firm's staff that have CPA certificates.
6、Which of the following acts by a CPA would most likely be considered not a violation the AICPA Code of Professional Conduct?
A、Assisting a client in preparing a financial forecast
B、Forming a professional corporation to practice as a CPA
C、Accepting a fee in a tax matter relating to an administrative proceeding
D、A "covered member" owns an immaterial amount of stock in an audit client
7、A CPA may receive a commission for recommending a particular computer system to an audit client.
8、An immaterial loan from the CPA to an officer of a client impairs the independence of the CPA.
9、If the independence of individual CPA is impaired, the CPA firm's independence will also be impaired.
10、The CPA should keep the secrets of client. we call that in Professional Code is ( )
Chapter Four
Test of Chapter Four
1、Under which common law approach are auditors most likelyto be held liable for ordinary negligence to a "reasonably foreseeable" third party?
A、Due Diligence Approach
B、Ultramares Approach
C、Restatement of Torts Approach
D、Rosenblum Approach
2、X, CPA, is in court defending himself against a lawsuit filled under the 1933 Securities Act. The charges have been filed by purchasers of securities covered under that act. If the purchasers prove their required elelments, in genenral, X will have to prove that:
A、He is not guilty of gross negligence
B、He performed the audit with good faith
C、He performed the audit with due diligence
D、The plaintiffs did not show him to be negligent
3、A case by a client against its CPA firm alleging negligence would be brought under:
A、The Securities Act of 1933
B、The Securities Act of 1934
C、The state blue sky laws
D、Common law
4、In cases of breach of contract, plaintiffs generally have to prove all the following except:
A、The CPAs had a duty
B、The CPAs made a false statement
C、The client incurred losses relating to the CPA's performance
D、The CPAs breached their duty
5、The sources of CPA liability include:
A、breach of contract
B、negligence
C、fraud
D、statutory liability
6、Please choose the correct statement about the comparison of the 1933 and 1934 Acts.
A、Under the 1933 Act, plaintiffs need to prove reliance upon the audited financial statements.
B、Both acts place the burden of proving adequate performance on the defendants
C、The 1933 Act requires the auditors to prove "due diligence"
D、The 1933 Act offers recourse only to the individuals acquiring the initial distribution of securities.
7、The Securities Exchange Act of 1934 offers recourse against the auditors to a far greater number of investors than does the Securities Act of 1933
8、Fraud is defined as the failure to use reasonable care in the performance of services
9、gross negligence is the lack of even slight care, indicative of a reckless diregard for one's professional responsibilities
10、The most important statutory laws relating to auditors' liability are the Securities Act of 1933 and ( )
