The International Framework for Assurance Engagements indicates that in practice a professional accountant should be able to provide the following levels of assurance on various engagements
a.high or reasonable.
c.high or absolute.
d.high or limited.
Question 6
For an assurance engagement with respect to the cash budgets of XYZ Ltd for CDE Bank Ltd, the responsible party would be
a.the management of XYZ Ltd.
b.the management of CDE Bank Ltd.
c.the shareholders of CDE Bank Lt
d.
d.the shareholders of XYZ Ltd.
Question 7
Which of the following potential criteria that could be ud in an internal control assurance engagement is/are applicable?
I.Criteria developed by the practitioner for the purpo of the engagement.
II.COSO (1994): Internal Control—Integrated Framework.
a.I only.
b.II only.
c.Both I and II.
d.Neither I nor II.
Question 8
Which of the following activities is/are monitoring activities according to ISQC 1 Quality Control for
Firms that Perform Audits and Reviews of Financial Statements, and Other Assurance and Related Services Engagements?
I.Appointing an Engagement Quality Control Reviewer.
II.Establishing procedures concerning acceptance and retention of clients.
III.Having adequate supervision and review during the audit.
IV.Having quality review programs conducted by partners from other locations.
a.IV only.
b.I and II only.
c.I, III and IV only.
d.I, II, III and IV.
Which of the following actions would be considered as lf-interest threats?
I.One client providing a high percentage of total audit fees.
II.An auditor having potential employment with an assurance client.
III. A member of the assurance team being a director of the client.
IV.An auditor acting as an advocate on behalf of an assurance client.
a.I only.
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b.I and II only.
c.II and III only.
d.I, II, III and IV.
Question 10
Audit evidence can come in different forms with varying degrees of persuasiveness. Which one of the following is the least persuasive type of evidence?
南瓜汤的做法大全a.Documents mailed by outsiders to the auditor.
b.Correspondence between the auditor and vendors.
c.Sales invoices inspected by the auditor.
d.Computations made by the auditor.
Question 11
Which of the following fundamental principles of professional conduct is under threat when an accountant prepares an advertiment comparing the quality of his/her work with that of other accountants in the
佚名是谁的笔名local region?
a.Integrity.
施工设计b.Objectivity.
c.Professional competence and due care.
d.Professional behaviour.
Question 12
Which of the following are lf-interest threats to objectivity?
三爿石
I.Competing directly with the client.
II.Auditing a client when your firm redesigned the internal control system in the previous year.
III.Receiving gifts from clients.
a.I and II only.
我的变形金刚b.I and III only.
c.II and III only.
d.I, II and III.
Which of the following statements are correct?
I.The level of professional scepticism can be reduced where the auditor has past experience with the entity
indicating the honesty and integrity of management.
II.The level of professional scepticism needs to be maintained throughout the whole engagement.
III.Professional scepticism is important in considering management’s explanations for unusual trends.
a.I and II only.
b.I and III only.
c.II and III only.
d.I, II and III.
Question 14
Which of the following statements with respect to ISAs is/are true?
I.The requirements are expresd with a statement starting ‘the auditor must’.
II.Additional requirements are included in application and explanatory material.
III.ISAs apply to all entities, whether they are small or large.
a.II only.
b.III only.
c.I and II only.
d.I and III only.
Question 15
Which of the following statements are true?
I. A review engagement does not ordinarily require tests of accounting records through inspection,
confirmation and obrvation.
II.Reviews of historical financial information are limited assurance engagements.
III. A practitioner who is the auditor of an entity cannot also carry out a review engagement for the same client in the same year.
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a.I and II only.
b.I and III only.
c.II and III only.
d.I, II and III.
Question 16
Which of the following cannot be a reasonable assurance engagement?
I.Audits of historical financial information.
II.Reviews of historical financial information.
III.Assurance engagements on environmental disclosures.
IV.Assurance engagements on internal control compliance.
a.II only.
b.I and III only.
c.II and III only.
d.II, III and IV only.
Question 17
Where a conflict of interest aris between two clients, the professional accountant may continue to advi
a.both clients, provided they have had a working relationship with both clients for at least five years.
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< client, provided they have vered all relationship with the other client and the remaining client
agrees in writing.
Question 18
An auditor leaves an audit firm and takes the role of the CFO of an audit client two months after completing the audit. This would involve which one of the following threats?
a.Self review.
b.Self interest.
c.Familiarity.
d.Intimidation.
Question 19
For a financial audit of a government department carried out by an auditor-general’s office, which of the following would be outputs of the audit?
I.An audit opinion on the financial statements.
II. A report to parliament on significant issues arising out of the audit.
III. A letter to the governing body of the auditee which includes obrvations about the quality of internal controls.
a.III only.
b.I and II only.
c.I and III only.
d.I, II and III.
Question 20
Which one of the following is most likely to be a direct assurance engagement?
a. A financial statement audit.
b. A review of prospective financial information.
c. A performance audit.
d.An assurance engagement of a sustainability report which was prepared by management.
