TEST BANK for Auditing: A Practical Approach with
Data Analytics 2nd Edition by Laura Davis Wiley,
Raymond N. Johnson and Robyn Moroney ISBN-.
All Chapters 1-16 (Complete Download).
, Table of Contents
Chapter 1: Introduction and Overview of Audit and Assurance
Chapter 2: Professionalism and Professional Responsibilities
Chapter 3: Risk Assessment Part I: Audit Risk and Audit Strategy
Chapter 4: Risk Assessment Part II: Understanding the Client
Chapter 5: Audit Evidence
Chapter 6: Gaining an Understanding of the Client's System of Internal
Control
Chapter 7: Audit Data Analytics
Chapter 8: Risk Response: Performing Tests of Controls
Chapter 9: Risk Response: Performing Substantive Procedures
Chapter 10: Risk Response: Evaluating Audit Data Analytics and Audit
Sampling
Chapter 11: Auditing the Revenue Process
Chapter 12: Auditing the Purchasing and Payroll Processes
, Chapter 1
Introduction and Overview of Audit
and Assurance
Question Type: True or False
1. GAAP and IFRS are examples of applicable financial reporting framework.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Reporting, AACSB:
Communication, Learning Objective: LO1.1, Solution: The applicable financial reporting
framework refers to the set of standards used in preparing the historical financial statements,
such as GAAP, IFRS or a Federal Income Tax Basis of Accounting.
2. Review of financial forecasts falls under attestation services.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Measurement Analysis and
4
, Interpretation, AACSB:
NC Ethics,
NC Learning
NC Objective:
NC LO1.1,
NC Solution:
NC NC Attestation
NCservices NC(under NCthe NC umbrella of
NC NC assurance NC services) NC include review
NC NCof
NC historical NCfinancial NCstatements, NCreview NCof NCfinancial NCforecasts, NCand NCexamination
NC of NCinternal NCcontrol.
3. Within NCa NCU.S. NCcontext, NCthe NCapplicable NCfinancial NCreporting NCframework NCis
typically NCGenerally NCAccepted NCAccounting NCPrinciples NC(GAAP).
NC
A. True
B. False
Answer: NCA, NCTaxonomy: NCKnowledge, NCDifficulty: NCEasy, NCAICPA NCFC: NCMeasurement
NC Analysis NCand NCInterpretation, NCAACSB: NCEthics, NCLearning NCObjective: NCLO1.2, NCSolution:
NCWithin NCa NCU.S. NCcontext, NCthe NCapplicable NCfinancial NCreporting NCframework NCis NCtypically
NC generally NCaccepted NCaccounting NCprinciples NC(GAAP).
4. Private NCcompanies, NCor NCnon-issuers, NCare NCnot NCrequired NCby NCthe NCU.S.
government NCto NChave NCan NCannual NCfinancial NCstatement NCaudit
NC
A. True
B. False
Answer: NCA, NCTaxonomy: NCKnowledge, NCDifficulty: NCEasy, NCAICPA NCFC: NCReporting,
NC AACSB: NCAnalytic, NCLearning NCObjective: NCLO1.2, NCSolution: NCPrivate NCcompanies, NCor
NCnon-issuers, NCare NCnot NCrequired NCby NCthe
U.S. NCgovernment NCto NChave NCan NCannual NCfinancial NCstatement NCaudit, NCbut NCoften NCother
NCinterested NCusers, NCsuch NCas NCa NCbank NCor NClender, NCmay NCrequest NCthat NCa NCprivate
NC company NCprovide NCaudited NCfinancial NCstatements.
5
Data Analytics 2nd Edition by Laura Davis Wiley,
Raymond N. Johnson and Robyn Moroney ISBN-.
All Chapters 1-16 (Complete Download).
, Table of Contents
Chapter 1: Introduction and Overview of Audit and Assurance
Chapter 2: Professionalism and Professional Responsibilities
Chapter 3: Risk Assessment Part I: Audit Risk and Audit Strategy
Chapter 4: Risk Assessment Part II: Understanding the Client
Chapter 5: Audit Evidence
Chapter 6: Gaining an Understanding of the Client's System of Internal
Control
Chapter 7: Audit Data Analytics
Chapter 8: Risk Response: Performing Tests of Controls
Chapter 9: Risk Response: Performing Substantive Procedures
Chapter 10: Risk Response: Evaluating Audit Data Analytics and Audit
Sampling
Chapter 11: Auditing the Revenue Process
Chapter 12: Auditing the Purchasing and Payroll Processes
, Chapter 1
Introduction and Overview of Audit
and Assurance
Question Type: True or False
1. GAAP and IFRS are examples of applicable financial reporting framework.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Reporting, AACSB:
Communication, Learning Objective: LO1.1, Solution: The applicable financial reporting
framework refers to the set of standards used in preparing the historical financial statements,
such as GAAP, IFRS or a Federal Income Tax Basis of Accounting.
2. Review of financial forecasts falls under attestation services.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Measurement Analysis and
4
, Interpretation, AACSB:
NC Ethics,
NC Learning
NC Objective:
NC LO1.1,
NC Solution:
NC NC Attestation
NCservices NC(under NCthe NC umbrella of
NC NC assurance NC services) NC include review
NC NCof
NC historical NCfinancial NCstatements, NCreview NCof NCfinancial NCforecasts, NCand NCexamination
NC of NCinternal NCcontrol.
3. Within NCa NCU.S. NCcontext, NCthe NCapplicable NCfinancial NCreporting NCframework NCis
typically NCGenerally NCAccepted NCAccounting NCPrinciples NC(GAAP).
NC
A. True
B. False
Answer: NCA, NCTaxonomy: NCKnowledge, NCDifficulty: NCEasy, NCAICPA NCFC: NCMeasurement
NC Analysis NCand NCInterpretation, NCAACSB: NCEthics, NCLearning NCObjective: NCLO1.2, NCSolution:
NCWithin NCa NCU.S. NCcontext, NCthe NCapplicable NCfinancial NCreporting NCframework NCis NCtypically
NC generally NCaccepted NCaccounting NCprinciples NC(GAAP).
4. Private NCcompanies, NCor NCnon-issuers, NCare NCnot NCrequired NCby NCthe NCU.S.
government NCto NChave NCan NCannual NCfinancial NCstatement NCaudit
NC
A. True
B. False
Answer: NCA, NCTaxonomy: NCKnowledge, NCDifficulty: NCEasy, NCAICPA NCFC: NCReporting,
NC AACSB: NCAnalytic, NCLearning NCObjective: NCLO1.2, NCSolution: NCPrivate NCcompanies, NCor
NCnon-issuers, NCare NCnot NCrequired NCby NCthe
U.S. NCgovernment NCto NChave NCan NCannual NCfinancial NCstatement NCaudit, NCbut NCoften NCother
NCinterested NCusers, NCsuch NCas NCa NCbank NCor NClender, NCmay NCrequest NCthat NCa NCprivate
NC company NCprovide NCaudited NCfinancial NCstatements.
5
