WGU D215 OBJECTIVE ASSESSMENT AND PRE-
ASSESSMENT NEWEST 2026 TEST BANK| D215
AUDITING OA & PA EXAM WITH COMPLETE 450
REAL EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS/ ALREADY GRADED A+ (MOST RECENT!!)
Which of the following is a private professional membership
organization of CPAs representing the accounting profession?
A. AICPA
B. ASB
C. PCAOB
D. IAASB - Correct Answer - AICPA
Which level of certainty must be achieved regarding the accuracy of a
company's financial statements when issuing an unqualified opinion?
A. Reasonable assurance
B. Measurable accuracy
C. Absolute assurance
D. Material accuracy - Correct Answer - Reasonable assurance
The Public Company Accounting Oversight Board (PCAOB) oversees
the regulation of and standard setting for specific audits. Which type of
entity is being overseen?
A. Not-for-profit
B. Public
C. Private
pg. 1
,D. Governmental - Correct Answer - Public
Which reason leads to a demand for audit and assurance services due to
the user's lack of accounting knowledge?
A. Accuracy
B. Reliability
C. Completeness
D. Complexity - Correct Answer - Complexity
Which component of the AICPA Code of Professional Conduct provides
the tenets of ethical conduct that govern the professional responsibility
of its members?
A. Morals
B. Principles
C. Interpretations
D. Rules of conduct - Correct Answer - Principles
A CPA has prepared a couple's joint tax returns for 10 years, but the
couple is now experiencing a complicated divorce where both parties
wish to claim the same child as a dependent. The CPA agrees to work
with both clients on their tax returns.
Which standard of the AICPA Code of Professional Conduct is being
violated by this CPA's action?
A. Independence
B. Contingent Fees
C. Accounting Principles
pg. 2
,D. Integrity and Objectivity - Correct Answer - Integrity and Objectivity
A junior accountant is providing tax and audit services to a large
company that is pressuring the accountant to reduce the amount of taxes
the company owes. The junior accountant decides to use last year's tax
laws instead of the current year's laws since the older laws will save the
company money.
Which general standard of the AICPA Code of Professional Conduct is
the junior accountant violating?
A. Due Professional Care
B. Sufficient Relevant Data
C. Planning and Supervision
D. Professional Competence - Correct Answer - Due Professional Care
A CPA is auditing a car dealership and is identifying factors that affect
the likelihood of overstated revenue. During which phase of the audit
does the CPA take this action?
A. Reporting
B. Regulatory
C. Risk response
D. Risk assessment - Correct Answer - Risk assessment
An audit manager is concerned about a severe economic downturn in the
country where its audit client is based. Which component of the audit
risk model is of concern to this manager?
A. Control
B. Inherent
pg. 3
, C. Detection
D. Quantitative - Correct Answer - Inherent
A staff auditor working on a large company's audit has found a red flag
that may indicate fraud. Which item was found by the auditor?
A. Simple business structure
B. Strong internal controls
C. Inadequate training programs
D. Basic business transactions - Correct Answer - Inadequate training
programs
A company begins to use a new accounts payable computer system and
then realizes a critical data field present in the old system is missing in
the new system.
Which type of risk is present for this company?
A. Control
B. Inherent
C. Financial
D. Detection - Correct Answer - Control
Which management assertion states that financial and other information
are disclosed fairly and in appropriate amounts?
A. Completeness
B. Accuracy and valuation
C. Classification and understandability
pg. 4
ASSESSMENT NEWEST 2026 TEST BANK| D215
AUDITING OA & PA EXAM WITH COMPLETE 450
REAL EXAM QUESTIONS AND CORRECT VERIFIED
ANSWERS/ ALREADY GRADED A+ (MOST RECENT!!)
Which of the following is a private professional membership
organization of CPAs representing the accounting profession?
A. AICPA
B. ASB
C. PCAOB
D. IAASB - Correct Answer - AICPA
Which level of certainty must be achieved regarding the accuracy of a
company's financial statements when issuing an unqualified opinion?
A. Reasonable assurance
B. Measurable accuracy
C. Absolute assurance
D. Material accuracy - Correct Answer - Reasonable assurance
The Public Company Accounting Oversight Board (PCAOB) oversees
the regulation of and standard setting for specific audits. Which type of
entity is being overseen?
A. Not-for-profit
B. Public
C. Private
pg. 1
,D. Governmental - Correct Answer - Public
Which reason leads to a demand for audit and assurance services due to
the user's lack of accounting knowledge?
A. Accuracy
B. Reliability
C. Completeness
D. Complexity - Correct Answer - Complexity
Which component of the AICPA Code of Professional Conduct provides
the tenets of ethical conduct that govern the professional responsibility
of its members?
A. Morals
B. Principles
C. Interpretations
D. Rules of conduct - Correct Answer - Principles
A CPA has prepared a couple's joint tax returns for 10 years, but the
couple is now experiencing a complicated divorce where both parties
wish to claim the same child as a dependent. The CPA agrees to work
with both clients on their tax returns.
Which standard of the AICPA Code of Professional Conduct is being
violated by this CPA's action?
A. Independence
B. Contingent Fees
C. Accounting Principles
pg. 2
,D. Integrity and Objectivity - Correct Answer - Integrity and Objectivity
A junior accountant is providing tax and audit services to a large
company that is pressuring the accountant to reduce the amount of taxes
the company owes. The junior accountant decides to use last year's tax
laws instead of the current year's laws since the older laws will save the
company money.
Which general standard of the AICPA Code of Professional Conduct is
the junior accountant violating?
A. Due Professional Care
B. Sufficient Relevant Data
C. Planning and Supervision
D. Professional Competence - Correct Answer - Due Professional Care
A CPA is auditing a car dealership and is identifying factors that affect
the likelihood of overstated revenue. During which phase of the audit
does the CPA take this action?
A. Reporting
B. Regulatory
C. Risk response
D. Risk assessment - Correct Answer - Risk assessment
An audit manager is concerned about a severe economic downturn in the
country where its audit client is based. Which component of the audit
risk model is of concern to this manager?
A. Control
B. Inherent
pg. 3
, C. Detection
D. Quantitative - Correct Answer - Inherent
A staff auditor working on a large company's audit has found a red flag
that may indicate fraud. Which item was found by the auditor?
A. Simple business structure
B. Strong internal controls
C. Inadequate training programs
D. Basic business transactions - Correct Answer - Inadequate training
programs
A company begins to use a new accounts payable computer system and
then realizes a critical data field present in the old system is missing in
the new system.
Which type of risk is present for this company?
A. Control
B. Inherent
C. Financial
D. Detection - Correct Answer - Control
Which management assertion states that financial and other information
are disclosed fairly and in appropriate amounts?
A. Completeness
B. Accuracy and valuation
C. Classification and understandability
pg. 4
