Question

24. As one of the year-end audt proceddures. the audor n dets ene confimation request for a bark accOunt Ae the dents eare ged e wae the assistant treasurer. The bank reumed the coefimation dr e wto l called the bank and was able to verty the confimaon was actully set by the k Wh e mag in this audit procedure? (Hint: Think about segregation of du The A. The confirmation request was signed by the treanae B. The confirmation request wan returned ty omal instead of aphypic s C. The request was mailed by the assistant treasurer D. The CPA did not sign the confiemation request before it was maled 25. When performing an analytical procedure the audinor should "Definea Significant Differencetih Threshold" before "Developing an Expectation. A. True B. False A) Limited Assurance-little/low chance of catching fraud or errors. B) Reasonable Assurance- reasonable/moderate chance of catching fraud or emons C) No Assurance- no chance of catching fraud or errors D) Absolute Assurance-100 % chance of catching fraud or errors. E) Depends on what level of assurance management wants the auditor to provide. 26) What assurance does the auditor provide that errors, and frauds that are material to the financial slatements will be detected?

Answer 1

24. C. The request was mailed by the assistant treasurer.

25. True.

26. B. Reasonable assurance : reasonable / moderate chance of catching fraud or errors.