WorksheetsAudit Overview
Total questions: 10
Worksheet time: 3mins
The single feature that most clearly distinguishes auditing, attestation, and assurance is
Type of service.
Training required to perform the service.
Scope of services.
CPA’s approach to the service.
The subject matter of auditing consists of:
Assertions.
Established criteria.
Evidence.
Written reports.
Which of the following represents a procedure the auditor may use because plausible relationships among financial
statement balances are expected to exist?
Attributes testing
Enterprise risk assessment
Inherent tests of control
Analytical review
A summary of findings rather than assurance is most likely to be issued on which engagement?
Agreed-upon procedures
Compilation
Examination
Review
Which one of the following is not a provider of assurance services?
CPAs
Internal auditors
Governmental auditors
PICPA
Which of the following types of auditing is performed most commonly by CPAs for more than one client and on a
contractual basis?
Internal auditing
Income tax auditing
External auditing
Government auditing
To maximize independence, the director of internal auditing should report to the
Audit committee.
Controller.
Chief financial officer.
Director of information systems.
Which of the following criteria is unique to the independent auditor's attest function?
General competence.
Familiarity with the particular industry of each client.
Due professional care.
Independence.
Which of the following is least likely to be comparable between similar corporations in the same industry line of business?
Accounts receivable turnover
Earnings per share
Gross profit percent
Return on assets before interest and taxes
The auditor communicates the results of his or her work
through the medium of the
Engagement letter
Management letter
Audit report
Financial statements
