Chapter 5 - Audit Theory and Practice | UPDATE|COMPREHENSIVE MOST TESTED QUESTIONS AND VERIFIED SOLUTIONS|GET IT 100% ACCURATE!!

10/28/24, 6:13 AM Chapter 5 - Audit Theory and Practice |2024-2025 UPDATE|COMPREHENSIVE MOST TESTED QUESTIONS AND VERIFIE…




Chapter 5 - Audit Theory and Practice |2024-
2025 UPDATE|COMPREHENSIVE MOST TESTED
QUESTIONS AND VERIFIED SOLUTIONS|GET IT
100% ACCURATE!!


Terms in this set (46)


1. The first general An auditor with appropriate technical training and
standard of the PCAOB proficiency.
requires that an audit be
performed by which type
of person?
a.
An auditor with seasoned
judgment in varying
degrees of supervision
and review.
b.
An auditor with
appropriate technical
training and proficiency.
c.
An auditor with adequate
knowledge of the
standards of field work
and reporting.
d.
An auditor satisfying the
independence standards.




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2. Which auditing The AICPA Standards.
standards apply to
private companies?
a.
The AICPA Standards.
b.
The IASSB Standards.
c.
The Standards of the
PCAOB.
d.
All of the above.

3. The AICPA includes All of the above.
which of the following
categories that guide the
conduct of an audit?
a.
Purpose of an audit and
premise upon which an
audit is conducted.
b.
Responsibilities.
c.
Performance.
d.
All of the above.




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4. What is the scope of Nonpublic companies in the U.S.
applicability of the
auditing standards of the
AICPA?
a.
Nonpublic companies
traded in non-U.S.
markets.
b.
Nonpublic companies in
the U.S.
c.
Public companies traded
in non-U.S. markets.
d.
Public companies traded
in the U.S.

5. To satisfy the fieldwork Gather sufficient appropriate evidence.
standards, what must an
auditor do?
a.
Act with due care.
b.
Gather sufficient
appropriate evidence.
c.
Be independent in mental
attitude.
d.
Have adequate
knowledge about the
client's industry.
e.
All of the above.




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