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审计与保证服务一种整合的方法14版题库chap1
Chapter11
Multiple-ChoiceQuestions
1.
Whichofthefollowingbestdefinesfraudinafinancialstatementauditingcontext?
easy
a.Fraudisanunintentionalmisstatementofthefinancialstatements.
b
b.Fraudisanintentionalmisstatementofthefinancialstatements.
c.Fraudiseitheranintentionalorunintentionalmisstatementofthefinancialstatements,dependingonmateriality.
d.Fraudiseitheranintentionalorunintentionalmisstatementofthefinancialstatements,dependingonconsistency.
2.
easy
OneoftheearliestfraudsoccurredatMcKesson-Robbins.Thiscompanycommittedfraudbydoingwhichofthefollowing?
b
a.Reportingfictitiouscontributedcapital.
b.Reportingfictitioussalesandnonexistentinventory.
c.Reportingfictitiousfixedassetsandunderreportingexpenses.
d.Reportingexpensesascapitalizeditems.
3.
Whichofthefollowingisacategoryoffraud?
easy
a
Fraudulentfinancialreporting
Misappropriationofassets
a.
Yes
Yes
b.
No
No
c.
Yes
No
d.
No
Yes
4.
Withrespecttofraudulentfinancialreporting,mostfraudsinvolve:
easy
d
Inventoryorliquidassettheft
Intentionalmisstatementsofamounts
a.
Yes
Yes
b.
No
No
c.
Yes
No
d.
No
Yes
5.
________isfraudthatinvolvestheftofanentity’sassets.
easy
a.Fraudulentfinancialreporting
c
b.A“cookiejar”reserve
c.Misappropriationofassets
d.Incomesmoothing
6.
________involvesdeliberateactionstakenbymanagementtomeetearningsobjectives.
easy
a.Expendituremanagement
b
b.Earningsmanagement
c.Top-linemanagement
d.Management-by-objective
7.
easy
________isaformofearningsmanagementinwhichrevenuesandexpensesareshiftedbetweenperiodstoreducefluctuationsinearnings.
c
a.Fraudulentfinancialreporting
b.Expensesmoothing
c.Incomesmoothing
d.Eachoftheaboveiscorrect
8.
WhichofthefollowingisoneoftheconditionsforfrauddescribedinSASNo.99?
easy
a
Attitudes/rationalization
RiskFactors
Opportunities
a.
Yes
No
Yes
b.
No
Yes
Yes
c.
Yes
No
No
d.
No
Yes
No
9.
Fraudulentfinancialreportingmaybeaccomplishedthroughthemanipulationof:
easy
a.assets.
d
b.revenues.
c.liabilities.
d.alloftheabove
10.
Whoismostlikelytoperpetratefraudulentfinancialreporting?
easy
a.Membersoftheboardofdirectors
c
b.Productionemployees
c.Managementofthecompany
d.Theinternalauditors
11.
Misappropriationofassetsisnormallyperpetratedby:
easy
a.membersoftheboardofdirectors.
b
b.employeesatlowerlevelsoftheorganization.
c.managementofthecompany.
d.theinternalauditors.
12.
medium
Whichofthefollowingisnotafactorthatrelatestoopportunitiestocommitfraudulentfinancialreporting?
c
a.Lackofcontrolsrelatedtothecalculationandapprovalofaccountingestimates.
b.Ineffectiveoversightoffinancialreportingbytheboardofdirectors.
c.Management’spracticeofmakingoverlyaggressiveforecasts.
d.Highturnoverofaccounting,internalaudit,andinformationtechnologystaff.
13.
Themostcommontechniqueusedbymanagementtomisstatefinancialinformationis:
medium
a.overstatementofexpenses.
b
b.improperrevenuerecognition.
c.understatementofliabilities.
d.understatementofassets.
14.
medium
Whichofthefollowingisafactorthatrelatestoincentivesorpressurestocommitfraudulentfinancialreporting?
b
a.Significantaccountingestimatesinvolvingsubjectivejudgments.
b.Excessivepressureformanagementtomeetdebtrepaymentrequirements.
c.Management’spracticeofmakingoverlyaggressiveforecasts.
d.Highturnoverofaccounting,internalaudit,andinformationtechnologystaff.
15.
medium
Whichofthefollowingisafactorthatrelatestoattitudesorrationalizationtocommitfraudulentfinancialreporting?
c
a.Significantaccountingestimatesinvolvingsubjectivejudgments.
b.Excessivepressureformanagementtomeetdebtrepaymentrequirements.
c.Management’spracticeofmakingoverlyaggressiveforecasts.
d.Highturnoverofaccounting,internalauditandinformationtechnologystaff.
16.
medium
Whichofthefollowingstatementsdescribescircumstancesthatunderlieemployeeincentivestomisappropriateassets?
a
a.Dissatisfiedemployeesmaystealfromasenseofentitlement.
b.Weakinternalcontrolsencourageemployeestotakechances.
c.Ifmanagementcheatscustomersandgetsawaywithit,thenemployeesbelievetheycandothesametothecompany.
d.Employeeshaveavestedinterestinmakingthecompany’sfinancialstatementserroneous.
17.
Whichofthefollowingisnotafactorthatrelatestoopportunitiestomisappropriateassets?
medium
a.Inadequateinternalcontrolsoverassets.
d
b.Presenceoflargeamountsofcashonhand.
c.Inappropriatesegregationofdutiesorindependentchecksonperformance.
d.Adverserelationshipsbetweenmanagementandemployees.
18.
Whichofthefollowingisafactorthatrelatestoincentivestomisappropriateassets?
medium
a.Significantaccountingestimatesinvolvingsubjectivejudgments.
b
b.Significantpersonalfinancialobligations.
c.Management’spracticeofmakingoverlyaggressiveforecasts.
d.Highturnoverofaccounting,internalauditandinformationtechnologystaff.
19.
medium
Whichofthefollowingissuesisnormallypartofthe“brainstorming”sessionrequiredbySASNo.99?
a
Howassetscouldbemisappropriated
Wheretheentity’sfinancialstatementsaresusceptibletomaterialmisstatementsduetofraud
a.
Yes
Yes
b.
No
No
c.
Yes
No
d.
No
Yes
20.
Inthefraudtriangle,fraudulentfinancialreportingandmisappropriationofassets:
medium
a.sharelittleincommon.
c
b.sharemostofthesameriskfactors.
c.sharethesamethreeconditions.
d.sharemostofthesameconditions.
21.
Sourcesofinformationgatheredtoassessfraudrisksusuallydonotinclude:
medium
a.analyticalprocedures.
d
b.inquiriesofmanagement.
c.communicationamongauditteammembers.
d.reviewofcorporatecharterandbylaws.
22.
medium
SASNo.99requiresauditorstodocumentwhichofthefollowingmattersrelatedtotheauditor’sconsiderationofmaterialmisstatementsduetofraud?
b
a.Reasonssupportingaconclusionthatthereisnotasignificantriskofmaterialimproperexpenserecognition.
b.Proceduresperformedtoobtaininformationnecessarytoidentifyandassesstherisksofmaterialfraud.
c.Resultsoftheinternalauditor’sproceduresperformedtoaddresstheriskofmanagementoverrideofcontrols.
d.Discussionswithmanagementregardingseparationofduties.
23.
UnderSASNo.99,auditorsaretopresumethatthereisasignificantriskof:
medium
a.overstatedassets.
c
b.understatedliabilities.
c.improperrevenuerecognition.
d.overstatedexpenses.
24.
medium
Afterfraudrisksareidentifiedanddocumented,theauditorshouldevaluatefactorsthat______fraudriskbeforedevelopinganappropriateresponsetotheriskoffraud.
b
a.enhance
b.reduce
c.increase
d.increaseordecrease
25.
medium
Whichofthefollowingpartiesisresponsibleforimplementinginternalcontrolstominimizethelikelihoodoffraud?
c
a.Externalauditors
b.Auditcommitteemembers
c.Management
d.CommitteeofSponsoringOrganizations
26.
Themosteffectivewaytopreventanddeterfraudisto:
medium
a.implementprogramsandcontrolsthatarebasedoncorevaluesembracedbythecompany.
a
b.hirehighlyethicalemployees.
c.communicateexpectationstoallemployeesonanannualbasis.
d.terminateemployeeswhoaresuspectedofcommittingfraud.
27.
Fraudawarenesstrainingshouldbe:
medium
a.broadandall-encompassing
c
b.extensiveandincludedetailsforallfunctionalareas
c.specificallyrelatedtotheemployee’sjobresponsibility
d.focusedonemployeesunderstandingtheimportanceofethics
28.
Aspartofthebrainstormingsessions,auditorsaredirectedtoemphasize:
medium
a
Theneedforprofessionalskepticism
Theauditteam’sresponsetopotentialfraudrisks
a.
Yes
Yes
b.
No
No
c.
Yes
No
d.
No
Yes
29.
Auditorresponsestofraudrisksincludewhichofthefollowing?
medium
d
Performprocedurestoresultintheissuanceofaqualifiedopinion
Performprocedurestoaddresstheriskofmanagementoverrideofcontrols
a.
Yes
Yes
b.
No
No
c.
Yes
No
d.
No
Yes
30.
medium
Aspartofdesigningandperformingprocedurestoaddressmanagementoverrideofcontrols,auditorsmustperformwhichofthefollowingprocedures?
d
Examinealljournalentriesabovethelevelofmateriality
Reviewaccountingestimatesforbiases
a.
Yes
Yes
b.
No
No
c.
Yes
No
d.
No
Yes
31.
medium
Which
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