Which of the following statements best describes the primary purpose of Statements on Auditing Standards? A...
Which of the following statements best describes the primary purpose of Statements on Auditing Standards?
| A |
They are guides intended to set forth auditing procedures which are applicable to a variety of situations. |
|
| B |
They are interpretations which may be useful guidance to auditors. |
|
| C |
They are authoritative statements, enforced through the Code of Professional Conduct. |
|
| D |
They are procedural outlines which are intended to narrow the areas of inconsistency and divergence of auditor opinion. |
Homework Answers
Correct answer is option(c)
Justification
The primary purpose of the statement on auditing standards is that they are authoritative statements enforced through the AICPA code of professional conduct.
Add Answer to:
Which of the following statements best describes the primary
purpose of Statements on Auditing Standards?
A...
Which of the following best describes what is meant by generally accepted auditing standards? A Audit...
Which of the following best describes what is meant by generally accepted auditing standards? A Audit objectives generally determined on audit engagements. B Measures of the quality of the auditors' performance. C Acts to be performed by the auditors. D Procedures to be used to gather evidence to support financial statements.
1. Which of the following are the established criteria against which management's assertions are judged in...
1. Which of the following are the established criteria against which management's assertions are judged in an audit? a- Generally Accepted Accounting Principles - Generally Accepted Auditing Standards C- Consistently Reported Accounting Procedures d- Fairness in application of accounting principles 2. Which of the following criteria is unique to the auditors assurance function? a. General competence b- Familiarity with the particular industry of which the client is part C- Due professional care d- Independence 3. Independent auditing can best be...
Chapter 2 Completion Questions Select the necessary words from the list of possibities to complete the...
Chapter 2 Completion Questions Select the necessary words from the list of possibities to complete the following statements Answer The purpose of an audit conducted in accordance with generally accepted auditing standards statements are presented tairly, in all material respects, in accordance with the applicable | The serialy numbered pronouncements issued by the Audeng Standards Board of the ACPA is to provide financial statement users with an opinion by the auditor on whether the financial 2 as generally accepted auditing...
ont Pologi.pl 13. Anestation engagement: a. Has as its primary source of standards the assurance standards...
ont Pologi.pl 13. Anestation engagement: a. Has as its primary source of standards the assurance standards b. Includes a report on subject matter, or on an assertion about subject matter. Includes search and verification procedures for all major accounts. Is ordinarily an examination, review or compilation engagement. an 14. A procedure in which a quality control partner periodically tests the application of quality control procedures is most directly related to which quality control element? Engagement performance, Human resources. C. Leadership...
Can you answer these questions? Thank you 7. An audit of historical financial statements most commonly...
Can you answer these questions? Thank you
7. An audit of historical financial statements most commonly includes the: a. balance sheet, the income statement, and the statement of cash flows. b. income statement, the statement of cash flows, and the statement of net working capital. c. statement of cash flows, the balance sheet, and the retained earnings statement. all of the above The generally accepted auditing standard that requires “Adequate technical training and proficiency” is normally interpreted as requiring the...
Financial statements are prepared following a(an) A Appropriate subject matter. B Generally accepted auditing standards. C...
Financial statements are prepared following a(an) A Appropriate subject matter. B Generally accepted auditing standards. C Set of quality control standards. D Applicable financial reporting framework. Which of the following is the best defense that a CPA can assert against common law litigation by a stockholder claiming fraud based on an unqualified opinion on materially misstated financial statements? A A disclaimer contained in the engagement letter. B Contributory negligence on the part of the client. C Lack of due diligence....
what standard from these standards had been violated at this case, and why ? Standards :...
what standard from these standards had been violated
at this case, and why ?
Standards :
please i want it quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the students. She signed it and send it to...
what standard from these standards had been violated at this case, and why ? Standards :...
what standard from these standards had been violated at
this case, and why ?
Standards :
i wanna a briefly solution, Does not exceed a one page, please
quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the...
b. Which of the following provides authoritative guidance for the auditor of a nonpublic company? O...
b. Which of the following provides authoritative guidance for the auditor of a nonpublic company? O 1. An article in the Journal of Accountancy that discusses new audit requirements O 2. Information obtained from continuing professional education programs O 3. Publication from state CPA societies that provides quest O 4. Statements on Auditing Standards tions and answers on frequently asked audit questions
Can you answer these questions? Thank you 42 The AICPA's Code of Professional Conduct states that...
Can you answer these questions? Thank you
42 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: a. choose independently between alternate accounting principles and auditing standards. b. distinguish between accounting practices that are acceptable and those that are not. be unyielding in all matters dealing with auditing procedures. d. maintain an impartial attitude on matters that come under the CPA's review....
1. Which of the following are the established criteria against which management's assertions are judged in an audit? a- Generally Accepted Accounting Principles - Generally Accepted Auditing Standards C- Consistently Reported Accounting Procedures d- Fairness in application of accounting principles 2. Which of the following criteria is unique to the auditors assurance function? a. General competence b- Familiarity with the particular industry of which the client is part C- Due professional care d- Independence 3. Independent auditing can best be...
Chapter 2 Completion Questions Select the necessary words from the list of possibities to complete the following statements Answer The purpose of an audit conducted in accordance with generally accepted auditing standards statements are presented tairly, in all material respects, in accordance with the applicable | The serialy numbered pronouncements issued by the Audeng Standards Board of the ACPA is to provide financial statement users with an opinion by the auditor on whether the financial 2 as generally accepted auditing...
ont Pologi.pl 13. Anestation engagement: a. Has as its primary source of standards the assurance standards b. Includes a report on subject matter, or on an assertion about subject matter. Includes search and verification procedures for all major accounts. Is ordinarily an examination, review or compilation engagement. an 14. A procedure in which a quality control partner periodically tests the application of quality control procedures is most directly related to which quality control element? Engagement performance, Human resources. C. Leadership...
Can you answer these questions? Thank you
7. An audit of historical financial statements most commonly includes the: a. balance sheet, the income statement, and the statement of cash flows. b. income statement, the statement of cash flows, and the statement of net working capital. c. statement of cash flows, the balance sheet, and the retained earnings statement. all of the above The generally accepted auditing standard that requires “Adequate technical training and proficiency” is normally interpreted as requiring the...
what standard from these standards had been violated
at this case, and why ?
Standards :
please i want it quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the students. She signed it and send it to...
what standard from these standards had been violated at
this case, and why ?
Standards :
i wanna a briefly solution, Does not exceed a one page, please
quickly
B. Mira A Certified Public Auditor licensed in Palestine is the partner in charge of Ooredoo audit. In order to save cost, she hired a group of students from Al-Najah University to help her conduct the audit. A month later Mira received the audited financial statements and the report from the...
b. Which of the following provides authoritative guidance for the auditor of a nonpublic company? O 1. An article in the Journal of Accountancy that discusses new audit requirements O 2. Information obtained from continuing professional education programs O 3. Publication from state CPA societies that provides quest O 4. Statements on Auditing Standards tions and answers on frequently asked audit questions
Can you answer these questions? Thank you
42 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: a. choose independently between alternate accounting principles and auditing standards. b. distinguish between accounting practices that are acceptable and those that are not. be unyielding in all matters dealing with auditing procedures. d. maintain an impartial attitude on matters that come under the CPA's review....
Most questions answered within 3 hours.
-
Let X and Y be i.i.d. random variables with finite second
moments. Show that Cov(X+Y, X...
asked 54 seconds ago -
An ANOVA comparing two groups is equivalent to an independent
samples t-test.
True
False
asked 12 minutes ago -
Some supermarkets are using customer tracking technology that
traces the flow of customers
through the shop....
asked 3 minutes ago -
A dock worker applies a constant horizontal force of 75.0 N to a
block of ice...
asked 12 minutes ago -
You are the CEO of a major corporation whose databases were
recently hacked, and sensitive customer...
asked 17 minutes ago -
Amazon is not just a
surviving company of the 1990s tech boom; it is now one...
asked 15 minutes ago -
Q1b. Provide an example of how pricing should interact
with the services offered by the retailer.
asked 44 minutes ago -
a mass weighing 8 pounds when attached to a spring, stretches
it 6 inches.the object is...
asked 51 minutes ago -
The following is part of the computer output from a regression
of monthly returns on Waterworks...
asked 55 minutes ago -
Bob Katz is purchasing a new Honda Pilot for $35,000. He is
financing $30,000 with a...
asked 59 minutes ago -
The equity holders of Super Nova, Inc. have 100 million of
equity in the firm. Because...
asked 58 minutes ago -
A sample of 240 observations is selected from a normal
population with a population standard deviation...
asked 1 hour ago