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AUD – CPA Auditing and Attestation Exam

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Showing 13–15 of 20 questions

Question 13 (Volume B)

A CPA is engaged to examine management's assertion that the entity's schedule of investment returns is presented in accordance with specific criteria. In performing this engagement, the CPA should comply with the provisions of:

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    Statements on Standards for Accounting and Review Services (SSARS).
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    Statements on Auditing Standards (SAS).
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    Statements on Standards for Consulting Services (SSCS).
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    Statements on Standards for Attestation Engagements (SSAE).
Question 14 (Volume C)

Which of the following would an auditor most likely use in determining the auditor's preliminary judgment about materiality?

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    The results of the initial assessment of control risk.
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    The anticipated sample size for planned substantive tests.
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    The entity's financial statements of the prior year.
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    The assertions that are embodied in the financial statements.
Question 15 (Volume B)

An accountant has been asked to issue a review report on the balance sheet of a nonissuer without reporting on the related statements of income, retained earnings, and cash flows. The accountant may issue the requested review report only if:

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    The balance sheet is not to be used to obtain credit or distributed to the entity's creditors.
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    The balance sheet is part of a comprehensive personal financial plan developed to assist the entity.
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    There have been no material changes during the year in the entity's accounting principles.
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    The scope of the accountant's inquiry and analytical procedures has not been restricted.