CHAPTER 1 Question Answer

1F A
2T B
3F C
4T D
5F
6T
7T
8B
9C
10 C
11 C
12 C
13 A Evidence isSignals the true state of a management's assertion
14 B
15 B
16 B
17 C During theEvaluate the integrity of management
18 C
19 C
20 B
21 B
22 C
23 C Which of tOffering an opnion concerning the accuracy of statements made on an entity's w
24 A Which of the
These
following
services
statements
are applied
is not
onlytrue
to FSwith
andrespect
FS accounts
to assurance, attest, and audit s
25 D
26 A When obtain
Identify areas of relatively high RMM and plan the audit accordingly'
27 D
28 A
29 A An investorAny dispute over significant accounting issues have been settled to the auditor's
30 D Preliminar Performing background checks on top management
31 C
32 D
33 B Auditor's rFS are audited in accordance with applicable auditing standards
34 A Not a concConformance of FS with GAAP

CHAPTER 2
1T
2T
3F
4T A FS audit T
5F
6T
7T
8F A FS Audit F
9T
10 T
11 C Audit Comm
Members of BOD
12 D
13 B
14 C The authoriPCAOB
15 D
16 D
17 C Which descrThe criteria of audit planning and evidence-gathering
18 C 1st standa Proficiency as an auditor which likely has been acquired from previous experienc
19 B 1st standarAn opnion of auditor
20 C
21 C
22 B
23 C
24 B
25 B
26 C Which descWhether management has system in place to evaluate and effectively manage th
27 B
28 C
29 D
30 C
31 B Not an attrAudittee advocacy
32 B
33 D NOT requirA certain number of hours, based on the size of the company
34 D A CPA mostWhether should undertake the audit engagement
35 D
36 D 3 PCAB genIndependence, adequate training, due professional care
37 C
38
39 C AICPA's st Define the minimum standards of performance for auditor
40 B
41 D Obejctive The comparability of FS between periods is not materially affected by changes in
42 C Internal a The efficiency of operations
43 C
44 D not a part Internal auditors should help external auditors complete annual FS audit
45 D Incorrect It has delegated all of its standard-setting authority to AICPA
46 A
47 C
48 A
49 C
50 B 4th PCAB sIndicate the character of auditor's examination and degree of responsibility assu
51 A 3 PCAB staPlanning and supervision and understanding the auditee's internal control system
52 D 4th PCAOBMisinterpretations
s regarding the degree of responsibility the auditor is assuming
ments made on an entity's website relating to its online privacy issue

udit accordingly'

been settled to the auditor's satisfaction

g standards
ired from previous experience

ate and effectively manage the entity's business risks

erially affected by changes in accounting principles that are not disclosed

plete annual FS audit

degree of responsibility assumed by the auditor

ditee's internal control system
bility the auditor is assuming