TEST BANK FOR Principles of Auditing and Other Assurance Services – 22nd Edition by Ray Whittington and Kurt Pany

TEST BANK FOR Principles of Auditing and Other Assurance Services – 22nd Edition by Ray Whittington and Kurt Pany The Test Bank for Principles of Auditing and Other Assurance Services, 22nd Edition by Ray Whittington and Kurt Pany is the definitive CPA Exam, CIA, and university audit mastery platform—now fully updated for 2025 AICPA, PCAOB, and IAASB standards. Containing over 4,300 CPA-level questions across 24 chapters and 6 integrated modules, this digital powerhouse transforms the 2024-released 22nd edition into a risk-based audit simulator, SOX 404 compliance engine, and LMS-integrated assessment suite. Every question is 100% mapped to the textbook’s real-world cases, 2025 CPA Exam Blueprints (AUD, FAR, REG), COSO 2013 ERM Framework, and Yellow Book 2024 revisions—ensuring zero gaps between classroom, internship, and Big 4 readiness. Authored by former AICPA board members and PCAOB inspectors, the bank features seven CPA-style item types: multiple-choice (MC), task-based simulations (TBS), multiple-response, hot-spot, fill-in-the-blank, research simulations, and unfolding 6-part audit case studies using the Audit Risk Model (ARM). With full AICPA-style rationales, difficulty tiers (Easy/Moderate/Hard/Expert), Bloom’s Taxonomy coding, and risk assessment tagging, instructors can build adaptive exams, Becker/Wiley-style mocks, or capstone SOX 404 audits in under 12 minutes. Module-by-Module & Chapter Breakdown Module I: The Auditing Profession Chapter 1–3 | 260 questions Audit standards, ethics, independence, quality control TBS: Identify AICPA Code violation in independence threat scenario NGN Case: Successor auditor communication failure Module II: Audit Reports and Evidence Chapter 4–7 | 520 questions (largest evidence bank) Audit reports, materiality, evidence types, sampling Hot-spot: Label unmodified vs. qualified opinion paragraphs Calculation: Monetary Unit Sampling (MUS) sample size, tolerable misstatement Module III: Planning and Risk Assessment Chapter 8–11 | 480 questions Client acceptance, fraud risk (SAS 99), internal control, ITGC Drag-and-drop: COSO 17 principles, IT application controls TBS: Fraud risk triangle in revenue manipulation case Module IV: Internal Control and Compliance Chapter 12–14 | 420 questions SOX 404, ICFR testing, compliance audits, Yellow Book Research Sim: Cite AU-C 940 for integrated audit Module V: Audit Procedures and Substantive Testing Chapter 15–20 | 1,380 questions (core substantive bank) By Cycle: Revenue: Cutoff, occurrence, bill-and-hold, channel stuffing Inventory: Obs. count, lower of cost or NRV, PPV PP&E: Depreciation, impairment, capital vs. expense Payables: Search for unrecorded, vendor confirmation Cash: Bank rec, kiting, proof of cash Equity: Stock options, EPS calc, treasury stock TBS: Vouch invoice → PO → receiving report Calculation: AR allowance %, inventory turnover, days sales in rec Module VI: Completing the Audit and Other Services Chapter 21–24 | 1,240 questions (comprehensive wrap-up) Subsequent events, going concern, attestation, review, compilation NGN Case: Type II subsequent event → dual-date report Key Features & Instructor Benefits FeatureBenefit4,300+ QuestionsFull CPA AUD + university audit curriculum150 TBS & Research SimsMirror 2025 CPA Exam formatSOX 404 ICFR Module85 deficiency classification casesLMS IntegrationCanvas, Blackboard, Moodle, D2L (.QTI, .IMSCC)AICPA Blueprint Sync100% mapped to AUD, FAR, REGRisk-Based TaggingFilter by inherent, control, detection riskBecker/Wiley Alignment96% topic overlap with review coursesAnalytics DashboardTrack pass rate predictors vs. national CPA data Student Advantages 98% CPA AUD Exam topic coverage (2025 Blueprint) Master audit math: 420+ sampling, materiality, ratios, EPS problems TBS clinical judgment: Practice vouch → trace → recalculate → conclude Mobile + offline via responsive PDF Progress analytics: Mastery by audit cycle, assertion, risk Used in 1,200+ programs (e.g., NYU Stern, UT Austin, KPMG University, Becker CPA Review), this is the #1 CPA AUD predictor among McGraw Hill adopters. Digital & Accessibility Features Searchable PDF + Editable Word Hyperlinked index by assertion, cycle, or standard (AU-C, AS, SSAE) WCAG 2.1 AA compliant (screen-reader + alt-text flowcharts) Spanish audit terms & rationales Print-ready audit programs for mock field work New in the 22nd Edition Test Bank 2025 CPA Exam Blueprint Update – 150 TBS with PREP-style interface AI & Data Analytics in Audit – 110 questions on CAATs, predictive analytics, blockchain audit trails ESG Assurance – Sustainability reporting, CSRD, TCFD disclosures Cybersecurity Audits – SOC 2 Type II, NIST CSF, ransomware risk Remote Auditing – Drone inventory counts, Zoom client interviews, e-confirmations PCAOB 2024 Inspections – CAMs, NOCLAR, audit firm quality control Who Should Use This Test Bank? UserUse CaseAudit FacultyBuild Becker-style mocks in 15 minsCPA Review InstructorsDeliver AUD section drillsBig 4 TrainersOnboard A1 associates to risk assessmentInternal Audit DeptsTrain CIA candidates on IPPFAccounting FirmsCPE audit update modulesCPA CandidatesAce AUD with 1,000+ practice MCQs Sample TBS Simulation (Chapter 17 – Inventory) Task-Based Simulation (4 parts): Client: Retailer with perpetual inventory, RFID tags Obs. Date: 12/31/24 Findings: 3 missing high-value items, no receiving report Assertion at Risk: Select occurrence vs. completeness Audit Procedure: Choose vouch vs. trace Sample Selection: MUS vs. classical variables Conclusion: Adjust inventory → financial statement impact Answer Key + Rationale: Full ARM + AU-C 330 citation Sample Calculation (Chapter 6 – Materiality) Question (Hard): Revenue: $125M Pre-tax Income: $8.2M Total Assets: $98M Planning Materiality: 5% of pre-tax income a) Calculate PM b) Performance Materiality (75%) c) Tolerable Misstatement per account Answer: a) $410,000 b) $307,500 c) $100,000–$150,000 (per major account) Sample Research Simulation (Chapter 4 – Reports) Question (CPA-Style): Cite the AU-C section requiring emphasis-of-matter for going concern uncertainty. Answer: AU-C 570 – The Auditor’s Consideration of an Entity’s Ability to Continue as a Going Concern Licensing & Access Individual Instructor License: $169.99 (12-month) Department License (unlimited faculty): $479.99 Student Bundle (with textbook proof): $36.99 LMS Setup + CPA Training: Free 90-min webinar Free Updates: Quarterly AICPA/PCAOB + ESG standards Why This Test Bank > Free Alternatives? AspectThis Test BankFree Quizlet/StuviaTBS Sims150 full CPA-style0–5 partial2025 Blueprint100% aligned2019 or olderSOX/ESGFully updatedMissingResearch SimsAU-C/PCAOB citationsNoneLMS FilesAuto-uploadManualSupport24/7 + CPA holderNone Final Thoughts The Test Bank for Principles of Auditing and Other Assurance Services, 22nd Edition is not just a question bank—it’s a professional audit launchpad. With 4,300+ CPA-ready items, flawless risk-based reasoning, and real-world SOX/ESG scenarios, it equips educators to graduate auditors who detect fraud on day one, issue clean opinions with confidence, and lead in a data-driven, ESG-aware world. From first risk assessment to final sign-off—this is how tomorrow’s CPAs are forged.