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Auditing and
Assurance Services,
ST
16th Edition
UV
TEST BANK
IA
_A
Alvin A. Arens, Randal J. Elder, Mark S.
PP
Beasley, Chris E. Hogan
RO
Comprehensive Test Bank for Instructors
and Students
VE
||| ||| || ||| || | || ||| | || ||| |
9780134065823
D?
© Alvin A. Arens, Randal J. Elder, Mark S. Beasley & Chris E.
Hogan. All rights reserved. Reproduction or distribution without
permission is prohibited.
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Auditing and Assurance Services (16th Ed.)
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, and Chris E. Hogan
ISBN: 9780134065823
ST
PART 1: THE AUDITING PROFESSION
Chapter 1: The Demand for Audit and Other Assurance Services
Chapter 2: The CPA Profession
UV
Chapter 3: Audit Reports
Chapter 4: Professional Ethics
Chapter 5: Legal Liability
PART 2: THE AUDIT PROCESS
IA
Chapter 6: Audit Responsibilities and Objectives
Chapter 7: Audit Evidence
Chapter 8: Audit Planning and Materiality
Chapter 9: Assessing the Risk of Material Misstatement
_A
Chapter 10: Assessing and Responding to Fraud Risks
Chapter 11: Internal Control and COSO Framework
Chapter 12: Assessing Control Risk and Reporting on Internal Controls
Chapter 13: Overall Audit Strategy and Audit Program
PP
PART 3: APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE
Chapter 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of
Transaction
Chapter 15: Audit Sampling for Tests of Controls and Substantive Tests of Transactions
RO
Chapter 16: Completing the Tests in the Sales and Collection Cycle: Accounts Receivable
Chapter 17: Audit Sampling for Tests of Details of Balances
PART 4: APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES
Chapter 18: Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of
VE
Transactions, and Accounts Payable
Chapter 19: Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected
Accounts
Chapter 20: Audit of the Payroll and Personnel Cycle
Chapter 21: Audit of the Inventory and Warehouse Cycle
D?
Chapter 22: Audit of the Capital Acquisition and Repayment Cycle
Chapter 23: Audit of Cash and Financial Instruments
PART 5: COMPLETING THE AUDIT
Chapter 24: Completing the Audit
, PART 6: OTHER ASSURANCE AND NONASSURANCE SERVICES
Chapter 25: Other Assurance Services
Chapter 26: Internal and Governmental Financial Auditing and Operational Auditing
ST
UV
IA
_A
PP
RO
VE
D?
, Auditing and Assurance Services, 16e (Arens/Elder/Beasley)
Chapter 1 The Demand for Audit and Other Assurance Services
1.1 Learning Objective 1-1
ST
1) In the auditing process
A) the types and amounts of evidence remain constant from audit to audit.
B) the criteria for evaluating information will not vary depending on the information being
audited.
C) the audit report communicates the auditor's findings to users.
UV
D) records are gathered by the auditor to determine whether the audited information is stated in
accordance with SEC standards.
Answer: C
Terms: Audit process
Diff: Moderate
Objective: LO 1-1
IA
AACSB: Reflective thinking
2) Which of the following is considered audit evidence?
A)
_A
Oral statements Written Auditor
made by management Communications Observation
Y N N
B)
PP
Oral statements Written Auditor
made by management Communications Observation
N Y Y
RO
C)
Oral statements Written Auditor
made by management Communications Observation
Y Y Y
D)
VE
Oral statements Written Auditor
made by management Communications Observation
N N Y
Answer: C
D?
Terms: Audit evidence
Diff: Easy
Objective: LO 1-1
AACSB: Reflective thinking
1
Copyright © 2017 Pearson Education, Inc.
Auditing and
Assurance Services,
ST
16th Edition
UV
TEST BANK
IA
_A
Alvin A. Arens, Randal J. Elder, Mark S.
PP
Beasley, Chris E. Hogan
RO
Comprehensive Test Bank for Instructors
and Students
VE
||| ||| || ||| || | || ||| | || ||| |
9780134065823
D?
© Alvin A. Arens, Randal J. Elder, Mark S. Beasley & Chris E.
Hogan. All rights reserved. Reproduction or distribution without
permission is prohibited.
© MEDCONNOISSEUR
, TABLE OF CONTENTS
Test Bank – Auditing and Assurance Services (16th Ed.)
Authors: Alvin A. Arens, Randal J. Elder, Mark S. Beasley, and Chris E. Hogan
ISBN: 9780134065823
ST
PART 1: THE AUDITING PROFESSION
Chapter 1: The Demand for Audit and Other Assurance Services
Chapter 2: The CPA Profession
UV
Chapter 3: Audit Reports
Chapter 4: Professional Ethics
Chapter 5: Legal Liability
PART 2: THE AUDIT PROCESS
IA
Chapter 6: Audit Responsibilities and Objectives
Chapter 7: Audit Evidence
Chapter 8: Audit Planning and Materiality
Chapter 9: Assessing the Risk of Material Misstatement
_A
Chapter 10: Assessing and Responding to Fraud Risks
Chapter 11: Internal Control and COSO Framework
Chapter 12: Assessing Control Risk and Reporting on Internal Controls
Chapter 13: Overall Audit Strategy and Audit Program
PP
PART 3: APPLICATION OF THE AUDIT PROCESS TO THE SALES AND COLLECTION CYCLE
Chapter 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of
Transaction
Chapter 15: Audit Sampling for Tests of Controls and Substantive Tests of Transactions
RO
Chapter 16: Completing the Tests in the Sales and Collection Cycle: Accounts Receivable
Chapter 17: Audit Sampling for Tests of Details of Balances
PART 4: APPLICATION OF THE AUDIT PROCESS TO OTHER CYCLES
Chapter 18: Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of
VE
Transactions, and Accounts Payable
Chapter 19: Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected
Accounts
Chapter 20: Audit of the Payroll and Personnel Cycle
Chapter 21: Audit of the Inventory and Warehouse Cycle
D?
Chapter 22: Audit of the Capital Acquisition and Repayment Cycle
Chapter 23: Audit of Cash and Financial Instruments
PART 5: COMPLETING THE AUDIT
Chapter 24: Completing the Audit
, PART 6: OTHER ASSURANCE AND NONASSURANCE SERVICES
Chapter 25: Other Assurance Services
Chapter 26: Internal and Governmental Financial Auditing and Operational Auditing
ST
UV
IA
_A
PP
RO
VE
D?
, Auditing and Assurance Services, 16e (Arens/Elder/Beasley)
Chapter 1 The Demand for Audit and Other Assurance Services
1.1 Learning Objective 1-1
ST
1) In the auditing process
A) the types and amounts of evidence remain constant from audit to audit.
B) the criteria for evaluating information will not vary depending on the information being
audited.
C) the audit report communicates the auditor's findings to users.
UV
D) records are gathered by the auditor to determine whether the audited information is stated in
accordance with SEC standards.
Answer: C
Terms: Audit process
Diff: Moderate
Objective: LO 1-1
IA
AACSB: Reflective thinking
2) Which of the following is considered audit evidence?
A)
_A
Oral statements Written Auditor
made by management Communications Observation
Y N N
B)
PP
Oral statements Written Auditor
made by management Communications Observation
N Y Y
RO
C)
Oral statements Written Auditor
made by management Communications Observation
Y Y Y
D)
VE
Oral statements Written Auditor
made by management Communications Observation
N N Y
Answer: C
D?
Terms: Audit evidence
Diff: Easy
Objective: LO 1-1
AACSB: Reflective thinking
1
Copyright © 2017 Pearson Education, Inc.
