Loose-leaf For Auditing & Assurance Services: A Systematic Approach
11th Edition
ISBN: 9781260687637
Author: William F Messier Jr, Steven M Glover Associate Professor, Douglas F Prawitt Associate Professor
Publisher: McGraw-Hill Education
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Question
Chapter 21, Problem 21.25MCQ
To determine
Concept Introduction:
An auditor should establish the policies and procedures to comply with the relevant ethical requirements. The ethics that have to follow by the auditor are integrity, objectivity, competence, confidentiality &professional behavior.
To choose: The principles of IIA Code to be followed by the auditor.
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Students have asked these similar questions
All of the following are overarching principles in the IMA Statement of Ethical Professional Practice except
A) responsibility.
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D) fairness.
Identity, which one of the following is related to ‘adherence to a strict moral or ethical code’.
Openness
Integrity
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What is a written system of standards that guides ethical conduct
Chapter 21 Solutions
Loose-leaf For Auditing & Assurance Services: A Systematic Approach
Ch. 21 - Prob. 21.1RQCh. 21 - Prob. 21.2RQCh. 21 - Prob. 21.3RQCh. 21 - Prob. 21.4RQCh. 21 - Prob. 21.5RQCh. 21 - Prob. 21.6RQCh. 21 - Prob. 21.7RQCh. 21 - Prob. 21.8RQCh. 21 - Prob. 21.9RQCh. 21 - Prob. 21.10RQ
Ch. 21 - Prob. 21.11RQCh. 21 - Prob. 21.12RQCh. 21 - Prob. 21.13RQCh. 21 - Prob. 21.14RQCh. 21 - Prob. 21.15MCQCh. 21 - Prob. 21.16MCQCh. 21 - Prob. 21.17MCQCh. 21 - Prob. 21.18MCQCh. 21 - Prob. 21.19MCQCh. 21 - Prob. 21.20MCQCh. 21 - Prob. 21.21MCQCh. 21 - Prob. 21.22MCQCh. 21 - Prob. 21.23MCQCh. 21 - Prob. 21.24MCQCh. 21 - Prob. 21.25MCQCh. 21 - Prob. 21.26MCQCh. 21 - Prob. 21.27MCQCh. 21 - Prob. 21.28MCQCh. 21 - Prob. 21.29MCQCh. 21 - Prob. 21.30PCh. 21 - Prob. 21.31PCh. 21 - Prob. 21.32PCh. 21 - Prob. 21.33PCh. 21 - Prob. 21.34PCh. 21 - Prob. 21.35P
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Similar questions
- 1.What is the definitions for the general importance of ethics and professionalism?arrow_forwardExamples of assurance services include All of the following except......Select one: a. Compliance engagement. b. Financial engagement. c. Due diligence engagement. d. Training engagement.arrow_forwardnon compliance with laws and regulation framework was created to comply with which fundamental principles? a. professiona competence and due care b. objectivity c. integrity d. confidentialityarrow_forward
- What do you think is meant by the term ethical auditing with respect to the principles and rules of professional conduct in the AICPA Code?arrow_forwardProfessional skepticism is a. The application of relevant training, knowledge and experience b. Adherence to the professional code of ethics c. An attitude that includes a questioning mind d. Necessary for a quality control system Clear my choicearrow_forwardAICPA members who work in industry and government must always uphold which two of the following AICPA rules of conduct?a. The Independence Rule.b. The Integrity and Objectivity Rule.c. The Confidential Client Information Rule.d. The Acts Discreditable Rule.arrow_forward
- A primary purpose for establishing a code of conduct within a professional organization is to: a Reduce the likelihood that members of the profession will be sued for substandard work. b Ensure that all members of the profession perform at approximately the same level of competence. c Demonstrate acceptance of responsibility to the interests of those served by the profession. d Require members of the profession to exhibit loyalty in all matters pertaining to the affairs of their organizationarrow_forwardexplain the three ethical principles that provide guidance for ethical responsibilityarrow_forwardWhich of the following is NOT one of the AICPA Principles of Professional Conduct? Select one: Organizational sustainability Independence Responsibilities Due Carearrow_forward
- 47. Which of the following statements is/are correct? Statement I. Independence is a fundamental ethical principle for internal auditors. Statement II. Communication skills are also essential not only as it relates to fellow auditors, but also process owners and operators. Statement III. Adding value and being perceived as trusted advisors to their organizations are perhaps the highest aspirations of internal auditors around the world. Group of answer choices Statements I and II Statements II and III Statements I, II, and III Statement III only PreviousNextarrow_forwardAnalyze Cooper and the internal auditors’ professional judgment. How dotheir actions relate to Rest’s four stages of moral development.arrow_forwardIdentify how each of the following statements relates to the performance principle by considering which element(s) of the principle are related to that statement. (A statement may be related to more than one element.) Use the following elements in providing your response: Reasonable assurance • Planning and supervision • Materiality ⚫ Risk assessment • Audit evidence a. Evaluating the effectiveness of the client's internal control in preventing or detecting misstatements. b. Obtaining an understanding of the client's business and industry. c. Acknowledging that the risk of failing to detect a material misstatement cannot be reduced to zero. d. Obtaining confirmations from the client's customers as to the ending balances in accounts receivable. e. Preparing a written audit plan. f. Designing audit procedures to identify misstatements that would have a significant effect on financial statement users' decisions. g. Considering the likelihood that the account balance contains a material…arrow_forward
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