Auditing Theory - Answer-(Fraud And Error)

AUDITING THEORY AND PRACTICE EXAM. - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) . - ANSWER-(Fraud and Error) .2 - ANSWER-A partner surviving the death or withdrawal of all the other partners in a partnership may continue to practice under the partnership name for a period of not more than _____ years after becoming a sole proprietor. (Auditing Theory: The Accountancy Profession) .5 - ANSWER-The holding of media-covered events undertaken only to commemorate a professional accountant’s anniversaries in public practice does not violate the rules on advertising and solicitation provided that such undertaking should be done only every _____ years of celebration. (Auditing Theory: The CPA’S Professional Responsibility) .10 - ANSWER-The Board of Accountancy shall submit to the PRC the ratings obtained by each candidate within _____ days after the examination, unless extended for just cause. (Auditing Theory: The Accountancy Profession) .30 - ANSWER-The death or disability of an individual CPA and/or the dissolution and liquidation of a firm or partnership of CPAs shall be reported to the BOA not later than _____ days from the date of such death, dissolution or liquidation. (Auditing Theory: The Accountancy Profession) .A belief that management and those charged with governance are honest and have integrity relieves the auditor of the need to maintain professional skepticism. - ANSWER-The auditor is required to maintain professional skepticism throughout the audit. Which of the following statements concerning professional skepticism is false? (Auditing Theory: Auditing and Related Services) .A fine of not less than P50,000 or by imprisonment for a period not exceeding two years or both. - ANSWER-Any person who shall violate any of the provisions of the Accountancy Act or any of its implementing rules and regulations promulgated by the Board of Accountancy subject to the approval of the PRC, shall, upon conviction, be punished by (Auditing Theory: The Accountancy Profession) .A measure of management performance in meeting organizational goals. - ANSWER-Operational audits generally have been conducted by internal and COA auditors, but may be performed by certified public accountants. A primary purpose of an operational audit is to provide (Auditing Theory: Auditing and Related Services) .A. A professional accountant accepting gifts from a client whose value is inconsequential or trivial. - ANSWER-Familiarity threat could be created under the following circumstances except A. A professional accountant accepting gifts from a client whose value is inconsequential or trivial. B. Senior personnel having a long association with the assurance client. C. A director or officer of the client or an employee in a position to exert significant influence over the subject matter of the engagement having recently served as the engagement partner. D. A member of the engagement team having a close or immediate family member who is a director or officer of the client. (Auditing Theory: The CPA’S Professional Responsibility) .A. Assessing control risk may be performed concurrently during an audit with obtaining an