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AAA Vocabulary > Block 2 - Practice Management > Flashcards

Block 2 - Practice Management Flashcards

1
Q

Ethical matter

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2
Q

Code of conduct

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3
Q

Threats to independence

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4
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Confidentiality

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5
Q

Conflicts of interest

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6
Q

Profesisonal matters

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7
Q

Practice management

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8
Q

Client screening

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9
Q

Quality Conteol

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10
Q

Audit services

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11
Q

Non-audit services

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12
Q

Client integrity

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13
Q

Previous auditor correspondence

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14
Q

Decision

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15
Q

Accept

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16
Q

Reject

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17
Q

Audit partner

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18
Q

Careful process

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19
Q

Due diligence

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20
Q

New audit client

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21
Q

Unfamiliarity

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22
Q

Knowledge

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23
Q

Assignment

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24
Q

Engagement

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25
Q

Existing client

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26
Q

Comfortable

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27
Q

Habitual

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28
Q

Advantages

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29
Q

Disadvantages

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30
Q

Checklist

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31
Q

Risk factors

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32
Q

Negative

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33
Q

Positive

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34
Q

Tender

A

Invite from client management to audit

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35
Q

Appointment

A

Acceptance

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36
Q

No appointment

A

Rejection

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37
Q

Specialized industry

A

Extra audit considerations - knowledge is required

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38
Q

New client

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39
Q

CDD/KYC

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40
Q

Negative

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41
Q

Publicity

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42
Q

Reputation

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43
Q

Law - money laundering, fraud

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44
Q

Involvement

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45
Q

Evaluate

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46
Q

Supersede

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47
Q

Correspondence

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48
Q

Previous auditor

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49
Q

Previous auditor

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50
Q

Knowledge source

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51
Q

Alert

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52
Q

“Previous auditor resigned”

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53
Q

Professional courtesy

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54
Q

Permission

A
55
Q

Correspond

A
56
Q

Receive

A
57
Q

Information

A
58
Q

Refuse

A
59
Q

Reject

A
60
Q

Concealing

A
61
Q

Relationship

A
62
Q

Preconditions

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63
Q

Management responsibilities

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64
Q

Towards audit

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65
Q

Time of acceptance

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66
Q

Financial statements

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67
Q

Applicable financial framework

A
68
Q

Sound system

A
69
Q

Internal control system

A
70
Q

Error

A
71
Q

Fraud

A
72
Q

Part-qualified accountant

A
73
Q

Part-qualified accountant

A
74
Q

Silent

A
75
Q

Auditor access

A
76
Q

Information

A
77
Q

Explanations

A
78
Q

Deadline

A
79
Q

Realistic

A
80
Q

Quality

A
81
Q

Quality

A
82
Q

Effectively

A
83
Q

Efficiently

A
84
Q

Amount of work

A
85
Q

Performed

A
86
Q

Size

A
87
Q

Complexity

A
88
Q

Different deadlines

A
89
Q

Tight

A
90
Q

Panic/stress

A
91
Q

Auditor negligence

A
92
Q

Realistic/ reasonable

A
93
Q

Realistic/ reasonable

A
94
Q

Competence

A
95
Q

Limiting factor

A
96
Q

Industry specialization

A
97
Q

Broad/narrow

A
98
Q

Court case

A
99
Q

Importance of audit planning

A
100
Q

Expert

A
101
Q

Ethical issues

A
102
Q

Safeguards

A
103
Q

Industry-specialized engagement partner

A
104
Q

Fees

A
105
Q

Fair and reasonable

A
106
Q

Opportunity to earn

A
107
Q

Motivation

A
108
Q

Driving force

A
109
Q

Quality

A
110
Q

Quoted

A
111
Q

Rationale

A
112
Q

Justifiable

A
113
Q

Work (scale of audit, number of hours performed).

A
114
Q

Documented

A
115
Q

Existing client

A
116
Q

Competence vs. nature of service

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117
Q

Shorter process

A
118
Q

Realistic deadline va nature/complexity of service

A
119
Q

Self-interest income threat

A
120
Q

No safeguard = refuse service

A
121
Q

Ethical dilemmas

A
122
Q

Fees

A
123
Q

Fees

A
124
Q

Fair/reasonable

A
125
Q

Nature/complexity of service offered

A
126
Q

Additional source of income

A
127
Q

Self-review threat

A
128
Q

Component of financial statements

A
129
Q

Reluctant to review

A
130
Q

Advice

A
131
Q

Advocacy threat

A

Promoting the client’s business interest

132
Q

Non-audit services

A
133
Q

Professional matters

A

Fees, competence, deadlines

134
Q

Transactions

A

AAA Vocabulary (17 decks)

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