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Study Material
TEST BANK For Auditing & Assurance Services:
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A Systematic Approach, 12th Edition
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Study Material
Chapters 1 - 21 Complet uuuu uuuu uuuu uuuu
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Study Material
Chapter 1: An Introduction
u u u u u u u u to u u u u Assurance u u u u and u u u u Financial u u u u Statement
u u u u Auditing
Chapter 2: The u u u u Financial u u u u Statement u u u u Auditing u u u u Environment
Chapter 3: Audit u u u u Planning, u u u u Types u u u u of u u u u Audit u u u u Tests, u u u u and u u u u Materiality
Chapter 4: Risk u u u u Assessment
Chapter 5: Evidence u u u u and u u u u Documentation
Chapter 6: Internal u u u u Control u u u u in u u u u a u u u u Financial u u u u Statement u u u u Audit
Chapter 7: Auditing u u u u Internal u u u u Control u u u u over u u u u Financial u u u u Reporting
Chapter 8: Audit Sampling: An u u u u u u u u u u u u Overview u u u u and u u u u Application u u u u to
Tests of
u u u uControls u u u u u u u u
Chapter 9: Audit u u u u Sampling: u u u u An Application
u u u u u u u u to u u u u Substantive u u u u Tests
of u u u u u u u u Account u u u u Balances
Chapter 10: Auditing u u u u the u u u u Revenue u u u u Process
Chapter 11: Auditing u u u u the u u u u Purchasing u u u u Process
Chapter 12: Auditing u u u u the u u u u Human u u u u Resource u u u u Management u u u u Process
Chapter 13: Auditing u u u u the u u u u Inventory u u u u Management u u u u Process
Chapter 14:u u u u Auditing the Financing/Investing Process: Prepaid
u u u u u u u u u u u u u u u u u u u u u u u u Expenses,
Intangible
u u u u u u u u Assets, and Property, Plant, and Equipment
uuuu u u u u u u u u u u u u u u u u
Chapter 15: Auditing
u u u u u u u u u u u u the u u u u Financing/Investing Process: Long-Term u u u u u u u u u u u u Liabilities,
Stockholders’ Equity,
u u u u uuuu u u u u and u u u u Income Statement Accountsu u u u u u u u
Chapter 16:
u u u u u u u u Auditing u u u u the u u u u Financing/Investing u u u u Process: u u u u Cash u u u u and
Investments
u u u u
Chapter 17: Completing u u u u the u u u u Audit u u u u Engagement
Chapter 18: Reports u u u u on u u u u Audited u u u u Financial u u u u Statements
Chapter 19: Professional Conduct, u u u u u u u u Independence, u u u u and u u u u Quality
Management
u u u u
Chapter 20: Legal u u u u Liability
Chapter 21: Assurance, u u u u Attestation, u u u u and u u u u Internal u u u u Auditing
Services u u u u
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Study Material
Auditing & Assurance Services: A Systematic
u u u u u u u u u u u u u u u u u u u u u u u u Approach,
12e (Messier) Chapter 1
u u u u u u u u An Introduction uuuu u u u u u u u u u u u u to
Assurance and Financial Statement Auditing
u u u u u u u u u u u u u u u u uuuu
1) Auditing focuses on rules, techniques, and computations
u u u u u u u u u u u u u u u u u u u u u u u u
required to prepare and analyze financial information.
u u u u u u u u u u u u u u u u uuuu u u u u u u u u
ANSWER: FALSE u u u u u u u u
Difficulty: 1 Easy uuuu uuuu
Topic: The Importance for Studying Auditing
u u u u u u u u u u u u u u u u
Learning Objective: 01-01 Understand why studying auditing can
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u be
valuable to you whether or not you plan to become an
u u u u u u u u u u u u uuuu u u u u u u u u u u u u u u u u u u u u u u u u u u u u
auditor, and why it is different from studying accounting.
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u uuuu
Bloom's: Remember u u u u
AACSB:
uuuu
Communication
u u u u
AICPA: BB Legal; FN Decision Making
u u u u u u u u u u u u u u u u
2) Decision makers u u u u u u u u demand u u u u reliable u u u u information u u u u that u u u u is u u u u provided u u u u by
accountants.
u u u u
ANSWER: TRUE u u u u u u u u
Difficulty: 1 Easy uuuu uuuu
Topic: The Demand for Auditing and Assurance
u u u u u u u u u u u u u u u u u u u u
Learning Objective: 01-02 Understand the demand for auditing and
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u
be able to explain the desired characteristics of auditors and
u u u u u u u u u u u u u u u u uuuu u u u u u u u u u u u u u u u u u u u u
audit services through an analogy to a house inspector and a
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u uuuu u u u u u u u u
house inspection service.
u u u u u u u u u u u u
Bloom's:
u u Understand
u u
AACSB:
uuuu
Communication
u u u u
AICPA: FN Decision Making; BB Industry
u u u u u u u u u u u u u u u u
3) Information u u u u asymmetry u u u u seldom u u u u occurs.
ANSWER: FALSE u u u u u u u u
Difficulty: 2 Medium uuuu uuuu
Topic: The Demand for Auditing and Assurance
u u u u u u u u u u u u u u u u u u u u
Learning Objective: 01-02 Understand the demand for auditing and
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u
be able to explain the desired characteristics of auditors and
u u u u u u u u u u u u u u u u uuuu u u u u u u u u u u u u u u u u u u u u
audit services through an analogy to a house inspector and a
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u uuuu u u u u u u u u
house inspection service.
u u u u u u u u u u u u
Bloom's: Apply
AACSB: Communication
AICPA: BB Industry; FN Reporting u u u u u u u u u u u u
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Study Material
TEST BANK For Auditing & Assurance Services:
uuuu uuuu uuuu uuuu uuuu uuuu
A Systematic Approach, 12th Edition
uuuu uuuu uuuu uuuu uuuu uuuu u u u u
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Study Material
Chapters 1 - 21 Complet uuuu uuuu uuuu uuuu
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Study Material
Chapter 1: An Introduction
u u u u u u u u to u u u u Assurance u u u u and u u u u Financial u u u u Statement
u u u u Auditing
Chapter 2: The u u u u Financial u u u u Statement u u u u Auditing u u u u Environment
Chapter 3: Audit u u u u Planning, u u u u Types u u u u of u u u u Audit u u u u Tests, u u u u and u u u u Materiality
Chapter 4: Risk u u u u Assessment
Chapter 5: Evidence u u u u and u u u u Documentation
Chapter 6: Internal u u u u Control u u u u in u u u u a u u u u Financial u u u u Statement u u u u Audit
Chapter 7: Auditing u u u u Internal u u u u Control u u u u over u u u u Financial u u u u Reporting
Chapter 8: Audit Sampling: An u u u u u u u u u u u u Overview u u u u and u u u u Application u u u u to
Tests of
u u u uControls u u u u u u u u
Chapter 9: Audit u u u u Sampling: u u u u An Application
u u u u u u u u to u u u u Substantive u u u u Tests
of u u u u u u u u Account u u u u Balances
Chapter 10: Auditing u u u u the u u u u Revenue u u u u Process
Chapter 11: Auditing u u u u the u u u u Purchasing u u u u Process
Chapter 12: Auditing u u u u the u u u u Human u u u u Resource u u u u Management u u u u Process
Chapter 13: Auditing u u u u the u u u u Inventory u u u u Management u u u u Process
Chapter 14:u u u u Auditing the Financing/Investing Process: Prepaid
u u u u u u u u u u u u u u u u u u u u u u u u Expenses,
Intangible
u u u u u u u u Assets, and Property, Plant, and Equipment
uuuu u u u u u u u u u u u u u u u u
Chapter 15: Auditing
u u u u u u u u u u u u the u u u u Financing/Investing Process: Long-Term u u u u u u u u u u u u Liabilities,
Stockholders’ Equity,
u u u u uuuu u u u u and u u u u Income Statement Accountsu u u u u u u u
Chapter 16:
u u u u u u u u Auditing u u u u the u u u u Financing/Investing u u u u Process: u u u u Cash u u u u and
Investments
u u u u
Chapter 17: Completing u u u u the u u u u Audit u u u u Engagement
Chapter 18: Reports u u u u on u u u u Audited u u u u Financial u u u u Statements
Chapter 19: Professional Conduct, u u u u u u u u Independence, u u u u and u u u u Quality
Management
u u u u
Chapter 20: Legal u u u u Liability
Chapter 21: Assurance, u u u u Attestation, u u u u and u u u u Internal u u u u Auditing
Services u u u u
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Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your
uuuu uuuu uuuu uuuu uuuu uuuu uuuu uuuu
Study Material
Auditing & Assurance Services: A Systematic
u u u u u u u u u u u u u u u u u u u u u u u u Approach,
12e (Messier) Chapter 1
u u u u u u u u An Introduction uuuu u u u u u u u u u u u u to
Assurance and Financial Statement Auditing
u u u u u u u u u u u u u u u u uuuu
1) Auditing focuses on rules, techniques, and computations
u u u u u u u u u u u u u u u u u u u u u u u u
required to prepare and analyze financial information.
u u u u u u u u u u u u u u u u uuuu u u u u u u u u
ANSWER: FALSE u u u u u u u u
Difficulty: 1 Easy uuuu uuuu
Topic: The Importance for Studying Auditing
u u u u u u u u u u u u u u u u
Learning Objective: 01-01 Understand why studying auditing can
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u be
valuable to you whether or not you plan to become an
u u u u u u u u u u u u uuuu u u u u u u u u u u u u u u u u u u u u u u u u u u u u
auditor, and why it is different from studying accounting.
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u uuuu
Bloom's: Remember u u u u
AACSB:
uuuu
Communication
u u u u
AICPA: BB Legal; FN Decision Making
u u u u u u u u u u u u u u u u
2) Decision makers u u u u u u u u demand u u u u reliable u u u u information u u u u that u u u u is u u u u provided u u u u by
accountants.
u u u u
ANSWER: TRUE u u u u u u u u
Difficulty: 1 Easy uuuu uuuu
Topic: The Demand for Auditing and Assurance
u u u u u u u u u u u u u u u u u u u u
Learning Objective: 01-02 Understand the demand for auditing and
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u
be able to explain the desired characteristics of auditors and
u u u u u u u u u u u u u u u u uuuu u u u u u u u u u u u u u u u u u u u u
audit services through an analogy to a house inspector and a
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u uuuu u u u u u u u u
house inspection service.
u u u u u u u u u u u u
Bloom's:
u u Understand
u u
AACSB:
uuuu
Communication
u u u u
AICPA: FN Decision Making; BB Industry
u u u u u u u u u u u u u u u u
3) Information u u u u asymmetry u u u u seldom u u u u occurs.
ANSWER: FALSE u u u u u u u u
Difficulty: 2 Medium uuuu uuuu
Topic: The Demand for Auditing and Assurance
u u u u u u u u u u u u u u u u u u u u
Learning Objective: 01-02 Understand the demand for auditing and
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u
be able to explain the desired characteristics of auditors and
u u u u u u u u u u u u u u u u uuuu u u u u u u u u u u u u u u u u u u u u
audit services through an analogy to a house inspector and a
u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u u uuuu u u u u u u u u
house inspection service.
u u u u u u u u u u u u
Bloom's: Apply
AACSB: Communication
AICPA: BB Industry; FN Reporting u u u u u u u u u u u u
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