LO 2-12-15 Which of the following is not a part of the role of internal auditors?a. Assisting the external auditors.b. Providing reports on the reliability of financial statements to investors andcreditors.c. Consulting activities.d. Operational audits.2-16 Operational auditing is oriented primarily towarda. Efficiency and future improvements to accomplish the goals of management.b. The accuracy of data reflected in management's financial records.c. Verification that an entity's financial statements are fairly presented.d. Past protection provided by existing internal control.LO 2-22-17 Which of the following would be considered a nonattest assurance serviceengagement?L. Expressing an opinion about the reliability of an entity's financial statements.II. Reporting that a company's sustainability metrics are complete and accurate.a. I only.b. Il only.LO 2-2c. Both I and II.d. Neither I nor I.LO 2-42-18 Which of the following best places the events of the last decade in proper sequence?a. Sarbanes-Oxley Act, increased consulting services to auditees, Enron and otherscandals, prohibition of most consulting work for auditees, establishment ofРСАОВ.b. Increased consulting services to auditees, Sarbanes-Oxley Act, Enron and otherscandals, prohibition of most consulting work for auditees, establishment ofРСЛОВ.c. Enron and other scandals, Sarbanes-Oxley Act, increased consulting servicesto auditees, prohibition of most consulting work for auditees, establishment ofРСАОВ.d. Increased consulting services to auditees. Enron and other scandals. Sarbanes-Oxley Act. prohibition of most consulting work for auditees, establishment ofРСАОВ.

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Which of the following is not a part of the role of internal auditors? a. Assisting the external auditors. b. Providing reports on the reliability of financial statements to investors and creditors. c. Consulting activities. d. Operational audits.

Which of the following is not a part of the role of internal auditors? a. Assisting the external auditors. b. Providing reports on the reliability of financial statements to investors and creditors. c. Consulting activities. d. Operational audits.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Question

LO 2-1
2-15 Which of the following is not a part of the role of internal auditors?
a. Assisting the external auditors.
b. Providing reports on the reliability of financial statements to investors and
creditors.
c. Consulting activities.
d. Operational audits.
2-16 Operational auditing is oriented primarily toward
a. Efficiency and future improvements to accomplish the goals of management.
b. The accuracy of data reflected in management's financial records.
c. Verification that an entity's financial statements are fairly presented.
d. Past protection provided by existing internal control.
LO 2-2
2-17 Which of the following would be considered a nonattest assurance service
engagement?
L. Expressing an opinion about the reliability of an entity's financial statements.
II. Reporting that a company's sustainability metrics are complete and accurate.
a. I only.
b. Il only.
LO 2-2
c. Both I and II.
d. Neither I nor I.
LO 2-4
2-18 Which of the following best places the events of the last decade in proper sequence?
a. Sarbanes-Oxley Act, increased consulting services to auditees, Enron and other
scandals, prohibition of most consulting work for auditees, establishment of
РСАОВ.
b. Increased consulting services to auditees, Sarbanes-Oxley Act, Enron and other
scandals, prohibition of most consulting work for auditees, establishment of
РСЛОВ.
c. Enron and other scandals, Sarbanes-Oxley Act, increased consulting services
to auditees, prohibition of most consulting work for auditees, establishment of
РСАОВ.
d. Increased consulting services to auditees. Enron and other scandals. Sarbanes-
Oxley Act. prohibition of most consulting work for auditees, establishment of
РСАОВ.

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