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independent audit of Hansen's financial statements. The primary
objective of this audit is to provide assurance to the:
8. The AICPA has authority to establish standards and rules in all
but which of the following areas?
9. Which of the following is an element of the CPA's quality
control system that should be considered in establishing its quality
control policies and procedures?
10. Within the context of quality control, the primary purpose of
continuing professional education and training activities is to enable a
CPA firm to provide its personnel with:
11. Which of the following are audit standards used in professional
practice by audit firms?
12. The organization that is responsible for providing oversight for
auditors of public companies is called the ________.
13. When the auditor determines that the financial statements are
fairly stated, but there is a nonindependent relationship between the
auditor and the client, the auditor should issue:
14. A misstatement in the financial statements can be considered
material if knowledge of the misstatement will affect a decision of:
15. When dealing with materiality and scope limitation conditions:
16. Which of the following is least likely to cause uncertainty about
the ability of an entity to continue as a going concern?
17. The appropriate audit report date for a standard nonqualified
audit report for a non-public entity should be the:
18. Auditing standards require that the audit report must be titled and
that the title must:
19. The AICPA's Code of Professional Conduct requires
independence for all:
20. The AICPA's Code of Professional Conduct states that a CPA
should maintain integrity and objectivity. The term "objectivity" in
the Code refers to a CPA's ability to:
21. When determining whether independence is impaired because of
an ownership interest in a client company, materiality will affect
ownership:
22. Several months after an unqualified audit report was issued, the
auditor discovers the financial statements were materially misstated.
The client's CEO agrees that there are misstatements, but refuses to