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PCAOB
GAO
AICPA
FASB
25. Management of an organization has the responsibility for all of
the following except: (Points: 4)
accounting principles used in financial reporting
engagement of a qualified auditor
internal control over financial reporting
financial statements and disclosures
26. The financial statement auditor must understand the client's
internal control as a component of the fieldwork standards. The one
of the reason for this understanding is so that the auditor may
(Points: 4)
provide individual comments on internal control non-
compliance.
become comfortable that the client will pay its audit bills.
assess materiality.
assess the risk of possible misstatements in the financial
statements.
27. For an auditor to be independent, he or she must be independent
in (Points: 4)
fact.
appearance.