Aicpa Aud Moderate2015
Aicpa Aud Moderate2015
Aicpa Aud Moderate2015
-/0-1 23-045670
8-04.-4 9-:-.; <61-=/4-
Please Note: These questions are released to the CPA Review providers
with the letter answer only (i.e. no explanation given).
1. Reporting
1. Reporting standards for financial audits under Government Auditing
Standards differ from reporting standards under generally accepted
auditing standards in that Government Auditing Standards require the
auditor to
Describe the scope of the auditor's tests of compliance with laws and
regulations.
Review the minutes of the meetings of the board of directors and its
committees.
3. Which
3. Which of the following factors would most likely influence the form and
extent of the auditor's documentation of an entity's internal control
environment?
Risk assessment.
Control environment.
Control activities.
Determine that all shipments before year end are recorded as sales.
The client.
Fraudulent activity.
Abusive activity.
Misappropriation of assets.
Tests of details of activity during the period since the interim testing
date.
Management's preference.
By obtaining the most recent letter of credit from the entity's primary
financial institution.
By researching the entity's Internet site and searching for current press
releases.
Answers:
3. Which of the following factors would most likely influence the form and
extent of the auditor's documentation of an entity's internal control
environment?
Risk assessment.
Control environment.
Control activities.
Determine that all shipments before year end are recorded as sales.
The client.
Fraudulent activity.
Abusive activity.
Misappropriation of assets.
Tests of details of activity during the period since the interim testing
date.
Management's preference.
By obtaining the most recent letter of credit from the entity's primary
financial institution.
By researching the entity's Internet site and searching for current press
releases.