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Test Bank for Auditing the art and science of assurance engagements 12th Canadian Edition by Alvin A. Arens All Chapters 1-20 Covered

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Test bank auditing 12th edition Assurance engagements Canadian edition Alvin A. Arens test bank Auditing book chapters 1-20 Canadian accounting study material Assurance engagements textbook Test bank for auditors Alvin A. Arens Canadian edition Audit assurance engagement resources Accounting test bank Canada Auditing and assurance resources Arens audit book all chapters Audit test bank Canadian edition 12th edition auditing textbook Chapter-wise audit material Assurance and audit study guide Alvin Arens auditing resources Comprehensive audit test bank Canada audit textbook chapters Auditing study resources Canada Auditing textbook Canadian author Alvin A. Arens auditing material Complete audit assurance textbook Canadian auditing book all chapters Test bank for assurance engagements Audit and assurance 12th edition Auditing textbook chapters 1-20 Study material audit assurance Auditing practice test bank

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, Test Bank
Auditing the art and science of assurance engagements
12th Canadian Edition by Alvin A. Arens
All Chapters 1-20 Covered




Auditing,b12eb(Arens)
Chapterb1b b ThebDemandbforbanbAuditingbandbAssurancebProfession

1.1 Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

1) Whichbofbthebfollowingbillustratesbthebdefinitionbofbauditingbwithbrespectbtobthebevidenceb
analysisbprocess?
A) accumulationbandbevaluationbofbevidencebaboutbbalancebsheetbaccounts
B) learningbaboutbdifferentbtypesbofbcomputingbtechnology,bsuchbasbmainframes
C) writingbanboperationalbauditbreportbthatbisbtailoredbtobthebclient'sbsituation
D) makingbsurebthatbthebauditorbisbcompetentbandbunderstandsbevidencebgatherin
gbAnswer:b A
Diff:b1 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

2) Auditingbshouldbbebdonebbybabqualified
A) charteredbaccountant.
B) certifiedbmanagementbaccountant.
C) competentbandbindependentbperson.
D) professionalbaccountan
t.bAnswer:b C
Diff:b2 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

3) Whichbofbthebfollowingbillustratesbthebdefinitionbofbauditingbwithbrespectbtobthebreportingb
process?
A) accumulationbandbevaluationbofbevidencebaboutbbalancebsheetbaccounts
B) reportingbonbthebdegreebofbcorrespondencebbetweenbfinancialbstatementsbandbASPE
C) writingbanboperationalbauditbreportbthatbisbtailoredbtobthebclient'sbsituation
1
©b2013bPearsonbCanadabInc.

,D) makingbsurebthatbthebauditorbisbcompetentbandbunderstandsbevidencebgatherin
gbAnswer:b B
Diff:b2 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

4) InbthebauditbofbhistoricalbfinancialbstatementsbbybPAbfirms,bthebcriteriabusedbare
A) generallybacceptedbauditingbstandards.
B) generallybacceptedbaccountingbprinciples.
C) regulationsbofbthebCanadabRevenuebAgency.
D) regulationsbofbthebprovincialbsecuritiesbcommissions.
bAnswer:b B

Diff:b1 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits




2
©b2013bPearsonbCanadabInc.

, 5) AblargebPAbfirmbhasbassessedbevidencebcollectedbduringbanbengagement.bCriteriabusedbtobasses
sbthebfinancialbstatementsbwerebInternationalbFinancialbReportingbStandardsb(IFRS).bAbhighblevelbof
bassurancebwasbobtained.bThebtypebofbengagementbconductedbwasba(n)

A) audit.
B) review.
C) managementbconsulting.
D) compilation.
Answer:b A
Diff:b2 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

6) Thebauditorbandbthebentitiesbshouldbagreebonbthebcriteriabtobbebusedbinbthebaudit
A) beforebthebauditbstarts.
B) afterbthebauditbplanningbhasbbeenbdone.
C) asbtheybprogressbwithbthebauditbasbtheybcanbdeterminebwhichbcriteriabisbmorebsuitable.
D) atbthebendbofbthebaudit.
bAnswer:b A

Diff:b1 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

7) Georgebhadbabconversationbwithbthebaccountingbpersonnelbandbdocumentedbinformationbabou
tbhowbthebaccountingbsystemsbfunction.bHebhasbalsobplacedbcopiesbofbaccountingbformsbinbhisbfile
s.bGeorgebisbperformingbwhichbtask?
A) accountingbprocedures
B) evidencebgathering
C) taxbaudit
D) auditbreportbpreparatio
nbAnswer:b B
Diff:b3 Type:bMC PagebRef:b5
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits

8) Onebofbthebreasonsbthatbanbauditorbmustbbebcompetentbisbtobbebablebto
A) understandbthebengagementbrisksbandbthebcriteriabusedbbybthebclient.
B) explainbhowbthebbookkeepingbshouldbbebdonebtobhisbstaff.
C) recordbthebtransactionsbproperlybforbthebunderlyingbrecords.
D) capturebthebinformationbproperlybinbthebcomputerbfiles.
bAnswer:b A

Diff:b2 Type:bMC PagebRef:b6
LearningbObj.:b 1-
1b Identifybthebcomponentsbofbanbauditbandbexplainbwhybtherebisbabdemandbforbaudits


3
©b2013bPearsonbCanadabInc.

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