We have sent an email with your new password.


Chapters 17 And 18

26 Questions  I  By Pimen103
Chapters 17 and 18

  
Changes are done, please start the quiz.


Question Excerpt

Removing question excerpt is a premium feature

Upgrade and get a lot more done!
1.  Generally, loss contingencies that are judged to be remote:
A.
B.
C.
D.
2.  An auditor will ordinarily examine invoices from lawyers primarily in order to…
A.
B.
C.
D.
3.  Harvey, CPA is preparing an audit program for the purpose of ascertaining the occurrence of subsequent events that may require adjustment or disclosure essential to a fair presentation of the financial statements in conformity with generally accepted accounting principles. Which one of the following procedures would be least appropriate for this purpose?
A.
B.
C.
D.
4.  Which of the following situations would require adjustment to or disclosure in the financial statements?
A.
B.
C.
D.
5.  An auditor issued an audit report that was dual dated for a subsequent event that occurred after the completion of field work but before issuance of the auditor’s report. The auditor’s responsibility for events occurring subsequent to the completion of field work was…
A.
B.
C.
D.
6.  “There have been no communications from regulatory agencies concerning noncompliance with or deficiencies in financial reporting practices that could have a material effect on the financial statements.” The foregoing passage is most likely from a…
A.
B.
C.
D.
7.  Communications between the auditor and those charged with governance should include all of the following except:
A.
B.
C.
D.
8.  In connection with the examination of the consolidated financial statements of Mott Industries, Frazier, CPA, plans to refer to another CPA’s examination of the financial statements of a subsidiary company. Under these circumstances, Frazier’s report must disclose…
A.
B.
C.
D.
9.  For which of the following events would an auditor issue a report that does not include any reference to consistency?
A.
B.
C.
D.
10.  An auditor includes a separate paragraph in an otherwise unmodified report to emphasize that the entity being reported on had significant transactions with related parties. The inclusion of this separate paragraph…
A.
B.
C.
D.
11.  When the client fails to include information that is necessary for the fair presentation of financial statements in the body of the statements or in the related footnotes, it is the responsibility of the auditor to present the information, if practicable, in the auditor’s report and issue a(n)…
A.
B.
C.
D.
12.  The predecessor auditor, after properly communicating with the successor auditor, has reissued a report because the audit client desires comparative financial statements. The predecessor auditor’s report should make:
A.
B.
C.
D.
13.  Auditing standards define OCBOA financial statements as including those prepared under the following base(s):
A.
B.
C.
D.
14.  If a lawyer refuses to furnish corroborating information regarding litigation, claims, and assessments, the auditor should...
A.
B.
C.
D.
15.  An auditor concludes that there is a material inconsistency in the other information in an annual report to shareholders containing audited financial statements. If the auditor concludes that the financial statements do not require revision, but the client refuses to revise or eliminate the material inconsistency, the auditor may...
A.
B.
C.
D.
16.  When an auditor reports on financial statements prepared on an entity's income tax basis, the auditor's report should...
A.
B.
C.
D.
17.  If the principal auditor decides to make reference to the other auditor's examination, the introductory paragraph must specifically indicate the...
A.
B.
C.
D.
18.  If an auditor dates the auditor's report on financial statements for the year ended December 31, 2009, as of February 10, 2010, except for Note J, as to which the date is March 3, 2010, the auditor is acknowledging responsibility to actively search for and ensure proper handling by management of...
A.
B.
C.
D.
19.  When the audited financial statements of the prior year are presented together with those of the current year, the continuing auditor's report should cover...
A.
B.
C.
D.
20.  Which of the following material events occurring subsequent to the balance sheet date would require an adjustment to the financial statements before they could be issued?
A.
B.
C.
D.
21.  The date of the management representation letter should coincide with the...
A.
B.
C.
D.
22.  Which of the following statements is correct about an auditor's required communication with management and those charged with governance?
A.
B.
C.
D.
23.  An auditor may reasonably issue an "except for" qualified opinion for a(n)...
A.
B.
C.
D.
24.  When reporting on comparative financial statements where the financial statements of the prior year have been examined by a predecessor auditor whose report is not presented, the successor auditor should make...
A.
B.
C.
D.
25.  Which of the following is not an audit procedure that the independent auditor would perform with respect to litigation, claims and assessments?
A.
B.
C.
D.
26.  A disclosure of a contingent liability in the footnotes is made rather than adjusting the financial statement accounts when:
A.
B.
C.
D.
Back to top

Removing ad is a premium feature

Upgrade and get a lot more done!
Take Another Quiz