EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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Question
Chapter 1, Problem 13.3MCQ
To determine
Identify the attributes that is likely to be unique to the audit work of CPA’s as compared to the work performed by practitioners of other profession.
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Students have asked these similar questions
Which of the following attributes is likely to be unique to the audit work of CPAs as compared to the work performed by practitioners of other professions?
Select one:
a. Independence.
b. Complex body of knowledge.
c. Competence.
d. Due professional care.
Answer the below:
What do you understand by attestation services?
Discuss the responsibility and functions of CPA.
Why independent Auditors' Reports are usually required? What type of information usually discussed in this report?
Which of the following best describes the relationship between auditing and attestation engagements
Select one:
a. Auditing is a subset of attestation engagements that focuses on providing clients with advice and decision support.
b. Attestation is a subset of auditing that provides lower assurance than that provided by an audit engagement.
c. Auditing is a subset of attestation engagements that focuses on the certification of financial statements.
d. Attestation is a subset of auditing that improves the quality of information or its context for decision makers
Chapter 1 Solutions
EBK AUDITING+ASSURANCE SERVICES
Ch. 1 - What are the information and established criteria...Ch. 1 - Prob. 2RQCh. 1 - Discuss changes in accounting and business...Ch. 1 - Prob. 4RQCh. 1 - Identify the three main ways information risk can...Ch. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Prob. 10RQ
Ch. 1 - Prob. 11RQCh. 1 - Prob. 12RQCh. 1 - Prob. 13.1MCQCh. 1 - Prob. 13.2MCQCh. 1 - Prob. 13.3MCQCh. 1 - Prob. 14.1MCQCh. 1 - Prob. 14.2MCQCh. 1 - Prob. 14.3MCQCh. 1 - Prob. 15.1MCQCh. 1 - Prob. 15.2MCQCh. 1 - Prob. 15.3MCQCh. 1 - Prob. 16DQPCh. 1 - Prob. 17DQPCh. 1 - Prob. 18DQPCh. 1 - Prob. 19DQPCh. 1 - Prob. 20DQPCh. 1 - Prob. 21DQPCh. 1 - Prob. 22DQPCh. 1 - Prob. 23DQPCh. 1 - As discussed in the chapter opening vignette and...Ch. 1 - Prob. 25DQP
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Similar questions
- what are the auditor Rules for Independence regarding the services they can offer the same client?arrow_forwardWhen expertise in a field other than accounting or auditing is necessary to obtain sufficient appropriate audit evidence, the auditor has to determine whether to use the work of an auditor’s expert.REQUIREDDescribe and explain the sources from where the auditor may get the information regarding the expert’s competence, capabilities, and objectivity of an auditor’s expert.arrow_forwardWhich of the following is not correct about professional judgment? a.Professional judgement is essential to the proper conduct of an audit b.Professional judgement is exercised throughout the audit c.Professional judgement is appropriately documented d.Professional judgement is used as justification for decisionsarrow_forward
- When establishing an understanding with an audit client, that understanding should be documented Group of answer choices: a. Through a management representation letter. b. In a manner completely based on the auditor’s seasoned professional judgment. c. Either orally or in writing with the client. d. Through use of an engagement letter.arrow_forwardIT audit standards of practice require that IT auditors: [SELECT ALL THAT APPLY] a) Must exercise due professional care when performing audit procedures. b) Must maintain objectivity and independence to avoid introducing bias in their reports. c) Should be professionally competent, and possess the skills and knowledge to conduct the audit. d) Must obtain an audit certificationsarrow_forwardWhich of the following is not a scope of internal auditors? Efficient Use of Resources Services to whole organization Objectives and goals achievement Compliance with Policies and Proceduresarrow_forward
- The user auditor is required to obtain a sufficient understanding of the nature and significance of the services provided by the service organisation and their effect on the user entities internal control relevant to the audit. From which source(s) might this understanding be obtained? A) the user entity B) a type 1 service auditors report C) a type 2 service auditors report D) all of the above answersarrow_forwardThe Performance Principle in AICPA auditing standards requires the auditor to obtain a sufficient understanding of the entity and its environment, including its internal control. Why is it important to understand the client’s business and how does the auditor gain an understanding of the client’s business?arrow_forwardThe Responsibilities principle requires that auditors be responsiblefor having appropriate competence and capabilities to perform the audit. What are thevarious ways in which auditors can fulfill this principle?arrow_forward
- Which of the following documents or/ and procedures should be used by the auditor to gain a better understanding of the client ? 1 .Discussion with management 2. Communications with certain entities working in the same industry sector 3. Predecessor auditor assessment of the internal control 4. All answers are correctarrow_forwardther types of assurance services provided by CPAs have developed as a natural extension of the audit function. Required: a. Explain what is meant by the term assurance services. b. Describe the forces that have caused a demand for other types of assurance services. c. Describe the subset of assurance services governed by the Statements of Standards for Attestation Engagements.arrow_forwardmultiple choice When an independent auditor decides that the work performed by internal auditors may have a bearing on the nature, timing, and extent of the independent auditor's procedures, the independent auditor should evaluate the competence and objectivity of the internal auditors. Relative to objectivity, the independent auditor should: a) Consider the organizational level to which the internal auditor reports the results of their work. b) Review the training program in effect for the internal audit staff. c) Examine the quality of the internal audit reports. d) Consider the qualifications of the internal audit staff.arrow_forward
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