AUD CPA Guidance
The auditor of an issuer would like to include information in the audit report about the total
hours that other accounting firms participated in the audit. Which citation in the professional
standards provides information about disclosing this information in the audit report?
✔✔PCAOB AS 3103 Par. 20
An auditor of a nonissuer is reporting on a single financial statement that is an incomplete
presentation, but is otherwise in accordance with U.S. GAAP. Which paragraph in the
professional standards establishes what information should be included in the required
emphasis-of-matter paragraph in the auditor's report? ✔✔AU-C 805.24
You and your staff have completed an audit of a nonissuer for the calendar year ended
December 31, Year 2. The audit report date of the financial statements was March 11, Year 3,
and on March 26, Year 3, the client issued the financial statements. On April 15, Year 3, as you
are ascertaining that the workpapers and related audit programs are complete and properly
signed off, you notice that the financial statements include a material misstatement
subsequent to the issuance of an unmodified report. The misstatement was determined to be
the inclusion of material nonexistent sales. The information regarding nonexistent sales was not
known at the date of the audit report. The auditors find the subsequently discovered
information is both reliable and existed at the date of the auditor's report. The team
determines that the inclusion of the material nonexistent sales would have affected the audit
report. The audit team bel ✔✔AU-C 560.A18
What guidance is provided by the AICPA Professional Standards that states all the elements that
should be included in the policies and procedures in a firm's system of quality control?
Keywords: Elements of quality control ✔✔QC 10.17
According to AICPA Professional Standards, how often should a firm, that is not part of a
network, communicate the results of monitoring the system of quality control to engagement
partners? Keywords: Monitoring quality control ✔✔QC 10.58
Jack Garret, CPA< is a 3rd year audit staff at YT CPA's. She is assembling the final audit file for a
nonissuer for the first time and is not familiar with the changes that may be made to the audit
file after the report release date. What are examples of administrative changes that may be
performed by Jackie on audit documentation after the report release date? Keywords:
Administrative changes ✔✔AU-C 230.A26
Anne Corwin, CPA, was asked to perform and audit of Pipes Plumbing for the year ended
December 31, Year 4. Pipes Plumbing was audited by Pete Smith in the prior year. Prior to
The auditor of an issuer would like to include information in the audit report about the total
hours that other accounting firms participated in the audit. Which citation in the professional
standards provides information about disclosing this information in the audit report?
✔✔PCAOB AS 3103 Par. 20
An auditor of a nonissuer is reporting on a single financial statement that is an incomplete
presentation, but is otherwise in accordance with U.S. GAAP. Which paragraph in the
professional standards establishes what information should be included in the required
emphasis-of-matter paragraph in the auditor's report? ✔✔AU-C 805.24
You and your staff have completed an audit of a nonissuer for the calendar year ended
December 31, Year 2. The audit report date of the financial statements was March 11, Year 3,
and on March 26, Year 3, the client issued the financial statements. On April 15, Year 3, as you
are ascertaining that the workpapers and related audit programs are complete and properly
signed off, you notice that the financial statements include a material misstatement
subsequent to the issuance of an unmodified report. The misstatement was determined to be
the inclusion of material nonexistent sales. The information regarding nonexistent sales was not
known at the date of the audit report. The auditors find the subsequently discovered
information is both reliable and existed at the date of the auditor's report. The team
determines that the inclusion of the material nonexistent sales would have affected the audit
report. The audit team bel ✔✔AU-C 560.A18
What guidance is provided by the AICPA Professional Standards that states all the elements that
should be included in the policies and procedures in a firm's system of quality control?
Keywords: Elements of quality control ✔✔QC 10.17
According to AICPA Professional Standards, how often should a firm, that is not part of a
network, communicate the results of monitoring the system of quality control to engagement
partners? Keywords: Monitoring quality control ✔✔QC 10.58
Jack Garret, CPA< is a 3rd year audit staff at YT CPA's. She is assembling the final audit file for a
nonissuer for the first time and is not familiar with the changes that may be made to the audit
file after the report release date. What are examples of administrative changes that may be
performed by Jackie on audit documentation after the report release date? Keywords:
Administrative changes ✔✔AU-C 230.A26
Anne Corwin, CPA, was asked to perform and audit of Pipes Plumbing for the year ended
December 31, Year 4. Pipes Plumbing was audited by Pete Smith in the prior year. Prior to
