Test Bank for Auditing & Assurance Services A Systematic Approach 12th Edition Messier 2025 || All Chapter ( 1-21 ) A+

TestqBankqfor
Auditingq&qAssuranceqServicesqAqSystematicqApproachq12e
Messier Chapter 1-21 Answers are at the End of Each Chapter


Chapterq1

Studentqname:__________
Whyqdoqauditorsqoftenquseqaqsamplingqapproachqtoqevidenceqgathering?
1)q______

Auditorsqareqexpertsqandqdoqnotqneedqtoqlookqatqmuchqtoqknowqwhetherqtheqfinan
cialqstatementsqareqcorrectqorqnot.
Auditorsqmustqbalanceqtheqcostqofqtheqauditqwithqtheqneedqforqprecisionqandqforqsomeqtype
sqofqevidence,qcomputerqdataqanalyticqapproachesqcan’tqbeqused.
Auditorsqmustqlimitqtheirqexposureqtoqtheirqauditeeqtoqmaintainqindependence.
Theqauditor'sqrelationshipqwithqtheqauditeeqisqgenerallyqadversarial,qsoqtheqauditorqwillq
notqhaveqaccessqtoqallqofqtheqfinancialqinformationqofqtheqcompany.



QuestionqDetails
AACSBq:qqCommunication
AICPAq:qFNqDecisionqMaking
Accessibilityq:qKeyboardqNavigation
Difficultyq:q1qEasy
AICPAq:qBBqIndustry
Bloom'sq:qUnderstand
LearningqObjectiveq:q01-05qUnderstandqwhyqsamplingqisqimportantqinqanqaudit.
Gradableq:qautomatic
Accessibilityq:qScreenqReaderqCompatible
Topicq:qTheqAuditqProcess



Whichqofqtheqfollowingqstatementsqbestqdescribesqaqrelationshipqbetweenqsampleqsizeqa
ndqotherqelementsqofqauditing?
______

, Ifqmaterialityqincreases,qsoqwillqtheqsampleqsize.
Ifqtheqdesiredqlevelqofqassuranceqincreases,qsampleqsizesqcanqbeqsmaller.
Ifqmaterialityqdecreases,qsampleqsizeqwillqneedqtoqincrease.
Thereqisqnoqrelationshipqbetweenqsampleqsizeqandqmaterialityqorqtheqdesiredqlevelqof
assurance.



QuestionqDetails
Accessibilityq:qKeyboardqNavigation
Bloom'sq:qApply
Difficultyq:q2qMedium
AICPAq:qBBqCriticalqThinking
AACSBq:qqAnalyticalqThinking
AICPAq:qFNqRiskqAnalysis
LearningqObjectiveq:q01-05qUnderstandqwhyqsamplingqisqimportantqinqanqaudit.
Gradableq:qautomatic
Accessibilityq:qScreenqReaderqCompatible
Topicq:qTheqAuditqProcess




WhichqofqtheqfollowingqstatementsqaboutqtheqstudyqofqauditingqisqNOTqtrue?
3)q______


Theqstudyqofqauditingqcanqbeqvaluableqtoqfutureqaccountantsqandqbusinessqdecisionqmak
ersqwhetherqorqnotqtheyqplanqtoqbecomeqauditors.
Theqstudyqofqauditingqfocusesqonqlearningqtheqanalyticalqandqlogicalqskillsqnecessary
qtoqevaluateqtheqrelevanceqandqreliabilityqofqinformation.

Theqstudyqofqauditingqfocusesqonqlearningqtheqrules,qtechniques,qandqcomputationsqrequired
qtoqanalyzeqfinancialqstatementsqforqmakingqinvestmentqrecommendations.

Theqstudyqofqauditingqbeginsqwithqthequnderstandingqofqaqcoherentqlogicalqframeworkq
andqtechniquesqusefulqforqgatheringqandqanalyzingqevidenceqaboutqothers’qassertions.

, QuestionqDetails
AACSBq:qqCommunication
AICPAq:qFNqDecisionqMaking
Accessibilityq:qKeyboardqNavigation
LearningqObjectiveq:q01-01qUnderstandqwhyqstudyingqauditingqcanqbeqvaluableqtoqyouqwhetherqorqnotqyou
AICPAq:qBBqIndustry
Difficultyq:q2qMedium
Bloom'sq:qAnalyze
Gradableq:qautomatic
Accessibilityq:qScreenqReaderqCompatible
Topicq:qTheqImportanceqforqStudyingqAuditing




Theqbasicqdefinitionqofqauditingqessentiallyqindicatesqthat,qoverall,qauditingqisqaqprocessq
to:
______


Ȁ ⤀ ฀̀Ā ȀĀ⤀ༀ Ā ȀȀ⤀Ā ฀ Ā ฀
etectqfraud.
Ȁ ⤀ ฀̀Ā ȀĀ⤀ༀ Ā ȀȀ⤀Ā ฀ Ā ฀
xamineqindividualqtransactionsqsoqthatqtheqauditorqmayqcertifyqasqtoqtheirqvalidity.
Ȁ ⤀ ฀̀Ā ȀĀ⤀ༀ Ā ȀȀ⤀Ā ฀ Ā ฀
bjectivelyqobtainqandqevaluateqevidenceqregardingqassertionsqmadeqbyqanotherqparty.
Ȁ ⤀ ฀̀Ā ȀĀ⤀ༀ Ā ȀȀ⤀Ā ฀ Ā ฀
ssureqtheqconsistentqapplicationqofqcorrectqaccountingqprocedures.



QuestionqDetails
AACSBq:qqCommunication
Accessibilityq:qKeyboardqNavigation
Bloom'sq:qRemember
Difficultyq:q1qEasy
AICPAq:qFNqReporting
LearningqObjectiveq:q01-03qKnowqtheqbasicqdefinitionqofqaqfinancialqstatementqaudit.
AICPAq:qBBqCriticalqThinking
Gradableq:qautomatic
Accessibilityq:qScreenqReaderqCompatible
Topicq:qAuditing,qAttest,qandqAssuranceqServicesqDefined




Assuranceqservicesqmayqimproveqallqofqtheqfollowingqexcept:

, 5)q______