Wiley Test Bank - Professional Responsibilities Flashcards
Requiring the identification of location of the auditor’s office that audited the client is required by:
International Standards on Auditing
The audit report for ______ includes section titles.
International Auditing and Assurance Standards Board
Under International Auditing Standards, the auditor of group F/S:
may not refer to the component auditor.
One purpose of establishing quality control policies and procedures for acceptance and continuance of client relationships and specific engagements is to:
Undertake engagements only that the accounting firm is competent to perform.
Within the context of quality control, a primary purpose of the engagement performance element is to help ensure that:
Engagements are adequately supervised.
Partners or managers are considered covered members if they:
provide ten or more hours of nonattest services.
Following International Auditing Standards ordinarily includes an opinion on:
Financial statements.
NOT internal control
IAASB is a Board within:
IFAC
Three impairments of independence are:
- personal
- external
- organizational
In relation to the AICPA Code of Professional Conduct, the rules of the International Code of Ethics for Professional Accountants:
Have fewer definitive prohibitions.
Under International Standards on Auditing, the auditor may modify the opinion for:
an uncertainty about the client’s continued existence as a going concern.
Under International Standards on Auditing, as it applies to letters of audit inquiry to a client’s lawyer:
a lawyer’s letter must be obtained if the auditor assesses a related risk of material misstatement.
SASs, ISAs, and PCAOB standards allow:
a disclaimer of opinion in circumstances involving multiple uncertainties.
Confirmation of A/R is presumptively required under:
US PCAOB and ASB.
not ISAs.
Under International Auditing Standards (ISA), the time horizon for a going concern consideration is:
At least 12 months from the date of the audit report.
