Which Of The Following Is The Least Reasonable Explanation For The Changes Observed By The Auditor?

Auditing Theory: Review of Audit Process

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Auditing Theory rae

Introduction to Assurance and Non-assurance Engagements

i. Which of the following Philippine Standards are to be applied to compilation engagements, agreed-upon procedures and

other related standards as specified past the AASC?

a. PSAs b. PSREs c. PSAEs d. PSRSs

two. These are issued to provide interpretative guidance and practical assistance to professional accountants in implementing

PSAs and to promote proficient practice.

a. Exercise statements b. PREPSs, and PRSPSs c. PAPSs and PREPSs d. PAPSs

3. Balls appointment

a. Is an engagement in which a practitioner is engaged to issue, or does issue, a written communication that expresses

a conclusion about the reliability of a written assertion that is the responsibility of another party.

b. Is a systematic procedure of objectively obtaining and evaluating bear witness regarding assertions nigh economic

actions and events to define the degree of correspondence between those assertions and established criteria and

communicating the results to interested users.

c. Is an engagement in which the accountant provides a moderate level of assurance that the information bailiwick to the

engagement is complimentary of textile misstatement.

d. Is an date intended to raise the credibility of information most a subject matter by evaluating whether the

subject matter conforms in all fabric respects with suitable criteria, thereby improving the likelihood that the

information volition meet the needs of an intended user.

4. The single feature that most clearly distinguishes auditing, attestation, and balls is

a. Type of service. c. Training required to perform the service

b. Telescopic of services. d. CPA's approach to the service

5. Information technology refers to the auditor's satisfaction as to the reliability of an assertion beingness made by i political party for utilize by another political party.

a. Confidence b. Reasonableness c. Assurance d. Tolerable

half-dozen. The three types of attestation services are:

a. Audits, review, and compilations

b. Audits, compilations, and other attestation services

c. Reviews, compilations, and other attestation services

d. Audits, reviews, and other testament services

vii. Assurance engagement include the following, except

a. An engagement conducted to provide a high level of balls that the subject matter conforms in all material

respects with identified suitable criteria.

b. An engagement conducted to provide a moderate level of assurance that the subject matter is plausible in the

circumstances.

c. An engagement in accordance with the Philippine Standard on Assurance Engagement(south) issued by the Auditing and

Assurance Standard Council as approved by the Board of Accountancy/Professional Regulation Committee.

d. An engagement to perform agreed-upon procedures.

8. Which of the following is an objective of a review engagement?

a. Expressing a positive opinion that the financial information is presented in conformity with more often than not accustomed

accounting principles.

b. Expressing a express assurance to users who have agreed as to procedures that will exist performed past the CPA.

c. Reporting whether material modifications should be fabricated to such fiscal statements to make them conform with

generally accepted accounting principles.

d. Reporting that the fiscal statements, in all materials respects, fairly present the financial position and operating

results of the client.

9. Not all engagements performed past professional accountants are assurance engagements. Other engagements

frequently performed past professional person accountants that are not assurance engagements include the following, except

a. Agreed-upon procedures c. Management consulting

b. Compilation of financial or other data d. Examination of prospective financial information

x. Different consulting services, assurance services:

a. Make recommendations to direction c. Written report on quality information

b. Report on how to use information d. Are two-party contracts

ane1. The primary goal of the CPA in performing the attest office is to

a. Find fraud

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AT by Raymund Francis A. Escala, CPA, MBA AT – eleventh Batch – HQ02

Source: https://www.studocu.com/ph/document/sti-college/accountancy/audit-theory-review-of-audit-process-questions-and-answers-multiple-choice/14571457

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