A5

Question 1

Auditor would be most likely responsible for communicating significant deficiencies in the design of internal control to specific __________ and __________ bodies when reporting under Government Auditing Standards

Answer 1

LEGISLATIVE; REGULATORY

Question 2

When a CPA examines a client’s projected financial statements, the auditor should state in the CPA’s report that the CPA performed procedures to ____________ management’s ___________

Answer 2

EVALUATE; ASSUMPTIONS

Question 3

In a service auditor’s report, the description of the _________ and _________ of the service auditor’s procedures

Answer 3

NATURE; SCOPE

Question 4

When an auditor performing an integrated audit identifies one or more material weaknesses in an nonissuer’s internal control, the auditor should express a(n) ___________ opinion on the entity’s internal control

Answer 4

ADVERSE

Question 5

When an auditor is auditing FS in accordance with GAAS, the auditor should prepare a report on the auditor’s ____________ of internal control and _________ of control risK

Answer 5

UNDERSTANDING; ASSESSMENT

Question 6

Objective of an auditdone for a local gov. that receives federal awards is to determine whether the entity has __________ with laws

Answer 6

COMPLIED

Question 7

A service organization that provides services that affect the initiation execution, processing or reporting of a user co.’s transactions is considered to be a part of the user company’s ___________ system

Answer 7

INFORMATION

Question 8

Top down approach: begins by understanding the overall risk to ________ controls over financial reporting at the __________ statement level

Answer 8

INTERNAL; FINANCIAL

Question 9

When an auditor decides to issue separate reports on IC and Compliance with laws for a gov entity, the auditor should state in the audit report that _________ reports will be issued

Answer 9

SEPARATE

Question 10

A performance audit on GAO requires a _________ opinion on FS taken as a whole

Answer 10

CONCURRENT

Question 11

A requirement of accepting an aup engagement is having projected FS include a summary of ____________ assumptions

Answer 11

SIGNIFICANT

Question 12

Government auditing standards and single audits require opinions to be rendered when an auditor is engaged to report on __________ provisions of laws and regulations

Answer 12

COMPLIANCE

Question 13

Single audits require opinions on reports on ___________ , __________control and schedule of findings and __________ costs

Answer 13

COMPLIANCE, INTERNAL, QUESTIONED

Question 14

__________ is not an appropriate testing mEthod when testing the operating effectiveness of controls during an integrated audit

Answer 14

CONFIRMATION - Confirmations are done during substantive procedures

Question 15

Compliance audit workpapers documentation does not an _____________ because none is provided in a compliance audit

Answer 15

OPINION

Question 16

In a practitioner’s report on the application of agreed-upon procedures should included references to __________ standards

Answer 16

AICPA

Question 17

Notice of significant deficiencies must be made within ___ days of the audit report release date in FS audit and at __________ release date for internal control

Answer 17

60; report

Question 18

An AUP engagement includes a _____________ of responsibility of the sufficiency of the procedures performed

Answer 18

DISCLAIMER

Question 19

SSAE engagements are engagements that require an auditor provide assurance on a particular ____________ and/or __________ matter

Answer 19

TRANSACTION; SUBJECT

Question 20

In an integrated audit, management rep letter should

Question 21

GAS differ from GAAS in that GAS require an auditor to present the results of an auditor’s test of __________-

Answer 21

CONTROLS