
ACC 403 ACC403 Quiz 1 (Strayer)
ACC 403 Quiz 1
- An audit to determine whether an entity is following specific procedures or rules set down by some higher authority is classified as a(n):
- The Sarbanes-Oxley Act applies to which of the following companies?
- Three common types of attestation services are:
- ________ risk reflects the possibility that the information upon which the business decision was made was inaccurate.
- In "auditing" financial accounting data, the primary concern is with:
- The use of the Certified Public Accountant title is regulated by:
- Which of the following is considered audit evidence?
- One objective of an operational audit is to:
- An examination of part of an organization's procedures and methods for the purpose of evaluating efficiency and effectiveness is what type of audit?
- Any service that requires a CPA firm to issue a report about the reliability of an assertion that is made by another party is a(n):
- Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called:
- Which of the following services provides the lowest level of assurance on a financial statement?
- The most common way for users to obtain reliable information is to:
- An accountant:
- Which of the following isĀ notĀ aĀ SysTrustĀ Services principle as defined by the AICPA?
- The "Principles Underlying an Audit in Accordance with Generally Accepted Auditing Principles" provides a framework to help auditors:
- Statements on Standards for Accounting and Review Services are issued by the:
- Which of the following statements best describes the primary purpose of Statements on Auditing Standards?
- Which of the following are audit standards used in professional practice by audit firms?
- Standards issued by the Public Company Accounting Oversight Board must be followed by CPAs who audit:
- Which of the following isĀ notĀ one of the responsibilities of an auditor under the principles underlying an audit?
- Hansen Corporation's stock is listed on a national stock exchange and registered with the Securities and Exchange Commission. Hansen's management hires a CPA to perform an independent audit of Hansen's financial statements. The primary objective of this audit is to provide assurance to the:
- 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?
- The organization that is responsible for providing oversight for auditors of public companies is called the ________.
- The Public Company Accounting Oversight Board:
- Assume the Public Company Accounting Oversight Board (PCAOB) identifies a violation during its inspection of a registered accounting firm. The PCAOB:
- When assessing the risk of material misstatements in the financial statements,
- The AICPA has authority to establish standards and rules in all but which of the following areas?
- The form that must be filed with the Securities and Exchange Commission whenever a company plans to issue new securities to the public is the:
- The methods used by a CPA firm to ensure that the firm meets is professional responsibilities to clients and others is: