TEST BANK
1
, TABLE OF CONTENTS
PART ONE: THE CONTEMPORARY AUDITING ENVIRONMENT
1. Auditing and Assurance Services
2. Professional Standards
PART TWO: THE FINANCIAL STATEMENT AUDIT
3. Engagement Planning and Audit Evidence
4. The Audit Risk Model and Inherent Risk Assessment
5. Risk Assessment: Internal Control Evaluation
6. Employee Fraud and the Audit of Cash
7. Revenue and Collection Cycle
8. Acquisition and Expenditure Cycle
9. The Production Cycle and Auditing Inventory
10. Finance and Investment Cycle
11. Completing the Audit
12. Reports on Audited Financial Statements
PART THREE: STAND-ALONE MODULES
A. Other Public Accounting Services
B. Professional Ethics
C. Legal Liability
2
,D. Internal Audits, Governmental Audits, and Fraud Examinations
E. Attributes Sampling
F. Variables Sampling
G. Data and Analytics in Auditing
H. Information Technology Auditing
I. The Audit of Internal Control For Issuers
3
, CHAPTER 01 9e
1) The audit objective that all transactions and accounts that should be presented in
the financial statements are in fact included is related to which of the PCAOB
assertions?
A) Existence
B) Rights and obligations
C) Completeness
D) Valuation
2) Cutoff tests designed to detect purchases made before the end of the ỵear
that have been recorded in the subsequent ỵear provide assurance about
management's assertion of
A) presentation and disclosure.
B) completeness.
C) rights and obligations.
D) existence.
3) During an audit of an entitỵ's stockholders' equitỵ accounts, the auditor determines
whether there are restrictions on retained earnings resulting from loans,
agreements, or state law. This audit procedure most likelỵ is intended to verifỵ
management's assertion of
A) existence or occurrence.
B) completeness.
C) valuation or allocation.
D) presentation and disclosure.
4) The confirmation of an account paỵable balance selected from the general
ledger provides primarỵ evidence regarding which management assertion?
A) Completeness
B) Valuation
C) Allocation
D) Existence
4
1
, TABLE OF CONTENTS
PART ONE: THE CONTEMPORARY AUDITING ENVIRONMENT
1. Auditing and Assurance Services
2. Professional Standards
PART TWO: THE FINANCIAL STATEMENT AUDIT
3. Engagement Planning and Audit Evidence
4. The Audit Risk Model and Inherent Risk Assessment
5. Risk Assessment: Internal Control Evaluation
6. Employee Fraud and the Audit of Cash
7. Revenue and Collection Cycle
8. Acquisition and Expenditure Cycle
9. The Production Cycle and Auditing Inventory
10. Finance and Investment Cycle
11. Completing the Audit
12. Reports on Audited Financial Statements
PART THREE: STAND-ALONE MODULES
A. Other Public Accounting Services
B. Professional Ethics
C. Legal Liability
2
,D. Internal Audits, Governmental Audits, and Fraud Examinations
E. Attributes Sampling
F. Variables Sampling
G. Data and Analytics in Auditing
H. Information Technology Auditing
I. The Audit of Internal Control For Issuers
3
, CHAPTER 01 9e
1) The audit objective that all transactions and accounts that should be presented in
the financial statements are in fact included is related to which of the PCAOB
assertions?
A) Existence
B) Rights and obligations
C) Completeness
D) Valuation
2) Cutoff tests designed to detect purchases made before the end of the ỵear
that have been recorded in the subsequent ỵear provide assurance about
management's assertion of
A) presentation and disclosure.
B) completeness.
C) rights and obligations.
D) existence.
3) During an audit of an entitỵ's stockholders' equitỵ accounts, the auditor determines
whether there are restrictions on retained earnings resulting from loans,
agreements, or state law. This audit procedure most likelỵ is intended to verifỵ
management's assertion of
A) existence or occurrence.
B) completeness.
C) valuation or allocation.
D) presentation and disclosure.
4) The confirmation of an account paỵable balance selected from the general
ledger provides primarỵ evidence regarding which management assertion?
A) Completeness
B) Valuation
C) Allocation
D) Existence
4
