Test Bank for Auditing & Assurance Services: A Systematic Approach, 11th Edition – William F. Messier Jr., Steven M. Glover & Douglas F. Prawitt

TEST BANK For Auditing & Assurance Services: A
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Systematic Approach, 12th Edition
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Chapters 1 - 21 Complete
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,
,Chapter 1: An Introduction to Assurance and Financial Statement Auditing
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Chapter 2: The Financial Statement Auditing Environment
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Chapter 3: Audit Planning, Types of Audit Tests, and Materiality
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Chapter 4: Risk Assessment
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Chapter 5: Evidence and Documentation
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Chapter 6: Internal Control in a Financial Statement Audit
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Chapter 7: Auditing Internal Control over Financial Reporting
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Chapter 8: Audit Sampling: An Overview and Application to Tests of Controls
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Chapter 9: Audit Sampling: An Application to Substantive Tests of Account Balances
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Chapter 10: Auditing the Revenue Process
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Chapter 11: Auditing the Purchasing Process
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Chapter 12: Auditing the Human Resource Management Process
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Chapter 13: Auditing the Inventory Management Process
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Chapter 14: Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets, and
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Property, Plant, and Equipment
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Chapter 15: Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders’ Equity, and
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Income Statement Accounts
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Chapter 16: Auditing the Financing/Investing Process: Cash and Investments
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Chapter 17: Completing the Audit Engagement
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Chapter 18: Reports on Audited Financial Statements
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Chapter 19: Professional Conduct, Independence, and Quality Management
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Chapter 20: Legal Liability
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Chapter 21: Assurance, Attestation, and Internal Auditing Services
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, Auditing & Assurance Services: A Systematic Approach, 12e (Messier) Chapter 1
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aAn Introduction to Assurance and Financial Statement Auditing
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1) Auditing focuses on rules, techniques, and computations required to prepare and analyze
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financial information.
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ANSWER: FALSE a




Difficulty:1Easy
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Topic: The Importance for Studying Auditing
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Learning Objective: 01-01 Understand why studying auditing can be valuable to you whether or not
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you plan to become an auditor, and why it is different from studying accounting.
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Bloom's: Remember a




AACSB: Communication
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AICPA: BB Legal; FN Decision Making
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2) Decision makers demand reliable information that is provided by accountants.
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ANSWER: TRUE Difficulty: a a




1Easy
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Topic: The Demand for Auditing and Assurance
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Learning Objective: 01-02 Understand the demand for auditing and be able to explain the desired
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characteristics of auditors and audit services through an analogy to a house inspector and a house
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inspection service.
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Bloom's: Understand a




AACSB: Communication
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AICPA: FN Decision Making; BB Industry
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3) Information asymmetry seldom occurs. a a a




ANSWER: FALSE a




Difficulty:2Medium
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Topic: The Demand for Auditing and Assurance
a a a a a a




Learning Objective: 01-02 Understand the demand for auditing and be able to explain the desired
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characteristics of auditors and audit services through an analogy to a house inspector and a house
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inspection service.
a a




Bloom's: Apply a




AACSB: Communicationa




AICPA: BB Industry; FN Reporting
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