ACG3141 (ACG3141)

TEST BANK FOR AUDITING: A RISK BASED-APPROACH, 11TH EDITION, KARLA M. JOHNSTONE, AUDREY A. GRAMLING, LARRY E. RITTENBERG Chapter 1. Quality Auditing: Why It Matters. 1. The need for independent assurance arises because the interests of the users of information may be different from the interests of those responsible for providing information. a. True b. False ANSWER: True POINTS: 1 QUESTION TYPE: ...

Chapter 3. Internal Control over Financial Reporting, Responsibilities of Management and the External Auditor

Chapter 10. Auditing Cash and Marketable Securities/ Chapter 10. Auditing Cash and Marketable Securities 1. An imprest payroll account should never reach a zero balance. True False 2. When the year-end cash balance is immaterial, audit procedures on the cash account are unnecessary. True False 3. Cash flow is often managed by organizations through the use of lockboxes and outsourced cash management arrangements with banks. True False 4. The ri...

Chapter 13. Auditing Long-Term Liabilities and Stockholders' Equity Transactions/ 1 ...

Chapter 2. The Auditor’s Responsibilities Regarding Fraud and Mechanisms to Address Fraud, Regulation and Corporate Governance

Chapter 4. Professional Legal Liability/ Chapter 4. Professional Legal Liability. 1. Under Common Law, liability concepts are developed through court decisions based on negligence, gross negligence, or fraud. True False 2. Public confidence is mostly maintained by the public accounting profession through integrity based on personal moral standards and it is reinforced by codes of conduct. True False 3. An individual does not need to agree to uphold the ...

Chapter 5. Professional Auditing Standards and the Audit Opinion Formulation Process

Chapter 6. Audit Evidence

Chapter 7. Planning the Audit, Identifying and Responding to the Risks of Material Misstatement