ACCT 3222-3, WILEY, LSU, EXAM 1 ALL
QUESTIONS AND CORRECT VERIFIED
ANSWERS LATEST VERSION
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Terms in this set (270)
services by an independent CPA that
provide financial statement users with
(1) an opinion on whether the financial
statements are presented fairly, in all
material respects, in accordance with
Audit Services an applicable financial reporting
framework and (2) an opinion on the
effectiveness of ICFR, which enhance
the degree of confidence that intended
users can place in the financial
statements
, Services performed when an
independent practitioner, or CPA, is
Attestation
engaged to issue a report on subject
Services
matter that is the responsibility of
another party
Audit - highest quality/reasonable
assurance (i.e., historical financial
Relationship of statements)
assurance, Attestation - mid quality/limited
attestation, and assurance (i.e., review of historical
auditing services financial statements, examination of
from most to least internal controls, review of financial
improved of forecast)
quality (i.e., Assurance - lowest quality (i.e.,
assurance) compilation of historical financial
statements, website security, IT
operations, non-financial information)
independent professional services that
Assurance
improve the quality of information, or its
Services
context, for decision makers
Applicable the set of standards used in preparing
financial reporting the historical financial statements (i.e.,
framework refers GAAP, IFRS, or federal income tax basis
to of accounting)
, Independent someone who was not involved with
implies that the the creation of the information and who
service is is objective in the evaluation of the
performed by information
the relevance and realiability of the
Quality refers to
information
subject matter that can be financial or
Information refers nonfinancial, historical or prospective,
to standalone data or entire systems of
data, internal or external to a company
CPAs are the only Licensed accounting professionals in
_________ accounting the US.
professionals in Licenses are issued at the state level,
the US and the not federal
________ are issued at
the ____________ level
A state board of a licence to practice after all three Es
accountancy will have been earned
only issue
CPA Es Education, Exam, and Experience
QUESTIONS AND CORRECT VERIFIED
ANSWERS LATEST VERSION
ALREADY A+ GRADED WITH EXPERT
FEEDBACK | NEW!! | REVISED
Save
Terms in this set (270)
services by an independent CPA that
provide financial statement users with
(1) an opinion on whether the financial
statements are presented fairly, in all
material respects, in accordance with
Audit Services an applicable financial reporting
framework and (2) an opinion on the
effectiveness of ICFR, which enhance
the degree of confidence that intended
users can place in the financial
statements
, Services performed when an
independent practitioner, or CPA, is
Attestation
engaged to issue a report on subject
Services
matter that is the responsibility of
another party
Audit - highest quality/reasonable
assurance (i.e., historical financial
Relationship of statements)
assurance, Attestation - mid quality/limited
attestation, and assurance (i.e., review of historical
auditing services financial statements, examination of
from most to least internal controls, review of financial
improved of forecast)
quality (i.e., Assurance - lowest quality (i.e.,
assurance) compilation of historical financial
statements, website security, IT
operations, non-financial information)
independent professional services that
Assurance
improve the quality of information, or its
Services
context, for decision makers
Applicable the set of standards used in preparing
financial reporting the historical financial statements (i.e.,
framework refers GAAP, IFRS, or federal income tax basis
to of accounting)
, Independent someone who was not involved with
implies that the the creation of the information and who
service is is objective in the evaluation of the
performed by information
the relevance and realiability of the
Quality refers to
information
subject matter that can be financial or
Information refers nonfinancial, historical or prospective,
to standalone data or entire systems of
data, internal or external to a company
CPAs are the only Licensed accounting professionals in
_________ accounting the US.
professionals in Licenses are issued at the state level,
the US and the not federal
________ are issued at
the ____________ level
A state board of a licence to practice after all three Es
accountancy will have been earned
only issue
CPA Es Education, Exam, and Experience
