The SEC and state boards of accountancy.
The AICPA, state societies of CPAs, and state boards of accountancy.
The AICPA, state societies of CPAs, and the SEC.
The National Association of State Boards of Accountancy.
A firm that designates itself “Members of the AICPA” when one partner has been expelled from the AICPA.
Practice of public accounting in the form of a professional corporation.
Use of the partnership name for a limited period by one of the partners in a public accounting firm after the death or withdrawal of all other partners.
Holding as an investment 10 of 1,000 outstanding shares in a commercial corporation that performs bookkeeping services.
Positive assurance on items tested.
. Negative assurance on items not tested.
A description of material instances of noncompliance for items tested.
. A description of the entity's performance on major financial assistance programs.
Efficiency of the audit.
Effectiveness of the audit.
Selection of the sample.
Audit quality controls.
Variation within the population.
Acceptable risk of incorrect acceptance.
. Recorded obligations were paid.
Incurred obligations were recorded in the correct period.
. Recorded obligations were valid.
Cash disbursements were recorded as incurred obligations.
Accept merchandise only if an approved purchase order is on hand.
. Accept and count all merchandise received from known vendors.
Rely on shipping documents to prepare receiving reports.
Be responsible for handling merchandise but not for preparing receiving reports.
. Acquire, evaluate, and document evidence
Focus on transactions likely to affect audit risk.
Compile the strategies and characteristics of an entity.
Distinguish between engagement risk and audit risk.
Accounting and Review Services Committee: "Statements on Standards for Accounting and Review Services"
Auditing Standards Board: "Statements on Auditing Standards"
Auditing Standards Executive Committee: "Statements on Auditing Procedure"
. Securities and Exchange Commission: "Financial Reporting Releases"
A critical review of the work done at every level of supervision.
The examination of all corroborating evidence available.
The exercise of error-free judgment.
A consideration of internal control structure that includes tests of controls.