Test Bank For Auditing and Assurance Services in Australia 7th Edition By Grant Gay
ISBN-10 : 1760422037, ISBN-13 : 978-1760422035
| 1. |
Which of the following is not an element of an assurance engagement?
| A. |
Three-party relationship. |
| B. |
Approved assurance standards. |
| C. |
Sufficient appropriate evidence. |
| D. |
A written assurance report. |
|
| 2. |
An audit establishes the conformity of assertions with specified criteria. In an audit of a financial report, the criteria by which financial report assertions are judged are:
| A. |
the ethical rules of conduct. |
| B. |
Australian Auditing Standards. |
| C. |
listing rules of the Australian Securities and Investments Commission. |
| D. |
applicable accounting standards. |
|
| 3. |
Who is the responsible party for the adequacy of the disclosure in the financial report and accompanying notes?
| A. |
Auditor in charge of fieldwork. |
| B. |
The entity’s board of directors. |
| C. |
Auditor who signs the auditor’s report. |
| D. |
The Australian Securities and Investments Commission. |
|
| 4. |
At what levels can assurance be provided under the assurance services framework?
| A. |
Reasonable assurance and limited assurance. |
| B. |
High assurance and reasonable assurance. |
| C. |
Assurance can be provided on a continuum from 0% to 100%. |
| D. |
Assurance can be provided on a continuum from absolute to limited. |
|
| 5. |
Independent auditors are referred to as ‘independent’ because:
| A. |
their offices are not at the entity’s place of business. |
| B. |
they are not employees of the entity being audited. |
| C. |
they are paid by parties outside of the audited entity. |
| D. |
they report to users outside of the audited entity. |
|
| 6. |
The highest level of assurance is provided by:
| A. |
compiling financial reports. |
| B. |
agreed-upon procedures. |
|
| 7. |
Which of the following can be the underlying subject matter of the audit?
| A. |
The financial report of a company. |
| B. |
The Australian accounting standards. |
| C. |
The Australian auditing standards. |
|
| 8. |
To which assurance engagements does the Framework for Assurance Engagements apply?
| A. |
Audits of historical financial information. |
| B. |
Reviews of historical financial information. |
| C. |
Assurance engagements other than audits or reviews of historical financial information. |
| D. |
All of the given answers are correct. |
|
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