Whichzofzthezfollowingzwouldzbezconsideredzanzassurancezengagement?
A.zGivingzanzopinionzonzazprize.
B.zGivingzanzopinionzonzthezconformity.
C.zGivingzanzopinionzonzthezfairzpresentation.
D.zAllzofzthezabove.z-zD.zAllzofzthezabove.
Whichzofzthezfollowingzwouldzbezconsideredzanzassurancezengagement?
A.zGivingzanzopinionzonzazprizezpromoter'szclaimszaboutzthezamountzofzsweepstakeszprizeszawardedzinzth
ezpast.
B.zGivingzanzopinionzonzthezconformityzofzthezfinancialzstatementszofzazuniversityzwithzgenerallyzaccepted
zaccountingzprinciples.
C.zGivingzanzopinionzonzthezfairzpresentationzofzaznewspaper'szcirculationzdata.
D.zGivingzassurancezaboutzthezaveragezdrivezlengthzachievedzbyzgolferszwithzazclient'szgolfzballs.
E.zAllzofzthezchoices.z-zE.zAllzofzthezchoices.
Itziszalwayszazgoodzideazforzauditorsztozbeginzanzauditzwithzthezprofessionalzskepticismzcharacterizedzbyzth
ezassumptionzthat:
A.zAzpotentialzconflictzofzinterestzalwayszexistzbetweenzthezauditorzandzthezmanagementzofzthezenterpris
ezunderzaudit.
B.zInzauditszofzfinancialzstatements,zthezauditorzactszexclusivelyzinzthezcapacityzofzanzauditor.
C.zThezprofessionalzstatuszofzthezindependentzauditorzimposeszcommensuratezprofessionalzobligations.
D.zFinancialzstatementszandzfinancialzdatazarezverifiable.z-
zA.zAzpotentialzconflictzofzinterestzalwayszexistzbetweenzthezauditorzandzthezmanagementzofzthezenterpris
ezunderzaudit.
,ThezSarbanes-
OxleyzActzofz2002zprohibitszpubliczaccountingzfirmszfromzprovidingzwhichzofzthezfollowingzservicesztozanza
uditzclient?
A.zBookkeepingzservices.
B.zInternalzauditingzservices.
C.zValuationzservices.
D.zAllzofzthezchoices.z-zD.zAllzofzthezchoices.
Inzanzattestationzengagement,zazCPAzpractitionerziszengagedzto:
A.zCompilezazcompanyzfinancialzforecast
B.zPreparezazwrittenzreport
C.zPreparezaztaxzreturn
D.zGivezexpertztestimonyzinzcourtz-
zB.zPreparezazwrittenzreportzcontainingzazconclusionzaboutzthezreliabilityzofzazmanagementzassertion
Azdeterminationzofzcostzsavingszobtainedzbyzoutsourcingzcafeteriazservicesziszmostzlikelyztozbezanzobjectiv
ezof:
A.zEnvironmentalzauditing
B.zFinancialzauditing
C.zCompliancezauditingz
D.zOperationalzauditingz-zD.zOperationalzAuditing
Thezprimaryzdifferencezbetweenzoperationalzauditingzandzfinancialzauditingziszthatzinzoperationzauditing:
A.zThezoperationalzauditorzisznotzconcernedz
B.zThezoperationalzauditorziszseekingztozhelpzmanagementzusezresourceszinzthezmostzeffectivezmannerzpo
ssible
,C.zThezoperationalzauditorzstartszwithzthezfinancialzstatements
D.zThezoperationalzauditorzcanzusezanalyticalzskillsz-
zB.zThezoperationalzauditorziszseekingztozhelpzmanagementzusezresourceszinzthezmostzeffectivezmannerzpo
ssible
AccordingztozthezAICPA,zthezpurposezofzanzauditzofzfinancialzstatementsziszto:
A.zEnhancezthezdegreezofzconfidencezthatzintendedzuserszcanzplacezinzthezfinancialzstatements.
B.zExpresszanzopinionzonzthezfairnesszwithzwhichztheyzpresentzfinancialzposition,zresultszofzoperations,zan
dzcashzflowszinzconformityzwithzaccountingzstandardszpromulgatedzbyzthezFinancialzAccountingzStandards
zBoard.
C.zExpresszanzopinionzonzthezfairnesszwithzwhichztheyzpresentzfinancialzposition,zresultszofzoperations,zan
dzcashzflowszinzconformityzwithzaccountingzstandardszpromulgatedzbyzthezU.S.zSEC.
D.zObtainzsystematiczandzobjectivezevidencezaboutzfinancialzassertionszandzreportzthezresultsztozintereste
dzusersz-zA.zEnhancezthezdegreezofzconfidencezthatzintendedzuserszcanzplacezinzthezfinancialzstatements.
Bankerszwhozarezprocessingzloanzapplicationszfromzcompanieszseekingzlargezloanszwillzprobablyzaskzforzfi
nancialzstatementszauditedzbyzanzindependentzCPAzbecause:
A.zFinancialzstatementszareztoozcomplexzforzthezbankersztozanalyzezthemselves.
B.zTheyzareztoozfarzawayzfromzcompanyzheadquartersztozperformzaccountingzandzauditingzthemselves.
C.zThezconsequenceszofzmakingzazbadzloanzarezveryzundesirable.
D.zTheyzgenerallyzseezazpotentialzconflictzofzinterestzbetweenzcompanyzmanagerszwhozwantztozgetzloansza
ndzthezbank'szneedszforzreliablezfinancialzstatements.z-
zD.zTheyzgenerallyzseezazpotentialzconflictzofzinterestzbetweenzcompanyzmanagerszwhozwantztozgetzloansz
andzthezbank'szneedszforzreliablezfinancialzstatements.
ThezSarbanes-
OxleyzActzofz2002zprohibitszaccountingzfirmszfromzprovidingzwhichzofzthezfollowingzservicesztozanzauditzcli
ent?
A.zBookkeepingzservices
B.zInternalzauditingzservices
, C.zValuationzservices
D.zAllzofzthezabovez-zD.zAllzofzthezabove
Independentzauditorszofzfinancialzstatementszperformzauditszthatzreduce?
A.zBusinesszriskszfacedzbyzinvestors
B.zInformationzriskszfacedzbyzinvestors
C.zComplexityzofzfinancialzstatements
D.zTimelinesszofzfinancialzstatementsz-zB.zInformationzriskszfacedzbyzinvestors
Thezprimaryzobjectivezofzcompliancezauditingziszto:
A.zGivezanzopinionzonzfinancialzstatements.
B.zDevelopzazbasiszforzazreportzonzinternalzcontrol.
C.zPerformzazstudyzonzeffectivezandzefficientzusezofzresources.
D.zDeterminezwhetherzclientzpersonnelzarezfollowingzlaws,zrules,zregulations,zandzpolicies.z-
zD.zDeterminezwhetherzclientzpersonnelzarezfollowingzlaws,zrules,zregulations,zandzpolicies.
WhatzrequirementszarezusuallyznecessaryztozbecomezlicensedzaszazCPA?
A.zSuccessfulzcompletionzofzthezUniformzCPAzExam
B.zExperiencezinzthezaccountingzfield
C.zEducation
D.zAllzofzthezabovez-zD.zAllzofzthezabove
Thezorganizationzprimarilyzresponsiblezforzensuringzthatzpubliczofficialszarezusingzpubliczfundszefficiently,z
economically,zandzeffectivelyziszthe?
A.zGovernmentalzInternalzAuditzAgencyz(GIAA)