Audit MCQ Practice3 IMP bWord格式.docx

1、standard that requires Adequate technical training and proficiency is normally interpreted as requiring the auditor to havea. formal education in auditing andaccounting.b. adequate practical experience for the work being performed.c. continuing professional education.5 In any case in which the CPA o

2、r the CPAs assistants are not qualified to perform the work, a professional obligation exists toa. acquire the requisite knowledge and skills.b. suggest someone else who is qualified to perform the work.c. decline the engagement.d. any of the above.6 A member CPA firm is required by the AICPA to bel

3、ong to the SEC Practice Section if ita. wishes to audit companies whose assets exceed $250 million.b. does any audits.c. does any reviews or audits.d. audits one or more publicly-held companies.7 If it is probable that the judgment of a reasonable person would have been changed or influenced by the

4、omission or misstatement of information, then that information is, by definition of FASB Statement No. 2,a. material.b. insignificant.c. significant.d. relevant.8 The preliminary judgment about materiality is the amount by which the auditor believes the statements could be misstated and still not af

5、fect the decisions of reasonable users.a. minimumb. maximumc. mean averaged. median average9 When auditors allocate the preliminary judgment about materiality to account balances, the materiality allocated to any given account balance is referred to in SAS No. 39 asa. the materiality range.b. the er

6、ror range.c. tolerable materiality.d. tolerable misstatement.10 Why do auditors establish a preliminary judgment about materiality?a. To help the auditor plan the appropriate evidence to accumulate.b. So that the client can know what records to make available to the auditor.c. To determine what leve

7、l of staffing （i.e., work experience） is required for the audit.d. None of the above.11 If an auditor establishes a relatively low level for materiality, then the auditor willa. accumulate more evidence than if a higher level had been set.b. accumulate less evidence than if a higher level had been s

8、et.c. accumulate approximately the same evidence as would be the case were a higher level set.d. accumulate an undetermined amount of evidence.12 After the preliminary judgment about materiality has been established, auditors maya. not adjust it.b. adjust it downward only.c. adjust it upward only.d.

9、 adjust it either downward or upward.13 Which of the following decisions are relevant to the auditors evidence accumulation?a.Type of auditprocedure to use.b. Number of items to examine.c. Timing of audit procedures.d. All of the above are relevant.14 Audit procedures are normally performeda. early

10、in the accounting period being examined.b. throughout the accounting period being examined, but with emphasis on the transactions near the end.c. within one to three months after the close of the accounting period.d. during all three of the above periods.15 The third standard of fieldwork requires t

11、he auditor to accumulate sufficient competent evidence to support the opinion issued. Because of the nature of audit evidence, it isa. unlikely the auditor will be completely convinced that the opinion is correct.b. likely the auditor will be completely convinced that the opinion is correct.c. unlik

12、ely the auditor will arrive at a conclusion.d. likely that the auditor would change his/her mind about the opinion if he/she took the time to gather additional evidence.16 Which of the following forms of evidence is most reliable?a. Generalledger accountbalances.b. Confirmation of A/R balance receiv

13、ed from a customer.c. Internal memo explaining the issuance of a credit memo.d. Copy of month-end adjusting entries.17 Evidence obtained directly by the auditor is more competent than information obtained indirectly. Which of the following is not an example of the auditors direct knowledge?a. Physic

14、al examination.b. Observation.c. Computation.d. Inquiry.18 When an auditor calculates the gross margin as a percent ofsalesand compares it with previous periods, this type of evidence is calleda. physical examination.b. computation.c. observation.d. inquiry19 Which of the following is not one of the

15、 three main reasons why the auditor should properly plan engagements?a. To enable proper on-the-job training of employees.b. To enable the auditor to obtain sufficient competent evidence.c. To avoid misunderstandings with the client.d. To help keep audit costs reasonable.20 A measure of how willing

16、the auditor is to accept thatthe financial statementsmay be materially misstated after the audit is completed and an unqualified opinion has been issued is thea. inherent risk.b. acceptable audit risk.c. statistical risk.d. financial risk.21 A measure of the auditors assessment of the likelihood tha

17、t there are material misstatements in an account before considering the effectiveness of the clients internal control isa. control risk.d. inherent risk.22 The auditor is likely to accumulate more evidence when the audit is for a companya. whose stock is publicly held.b. which has extensive indebted

18、ness.c. which is to be sold in the near future.d. All three of the above.23 Which of the following is not typically included initial audit planning?a. Client acceptance/continuation decisions.b. Determination of the purpose of the audit.c. Schedule engagement staff and audit specialists.d. Perform p

19、reliminary analytical procedures.24 Most auditors assess inherent risk as high for related parties and related-party transactions becausea. of the accounting disclosure requirement.b. of the lack of independence between the parties.c. both a and b.d. it is required bygenerally accepted accounting pr

20、inciples.25 Which of the following parties is responsible for establishing an entitys internal controls?a. Management.b. Auditors.c. Management and auditors.d. Committee of Sponsoring Organizations.26 For an internal audit function to be effective, it is essential that the internal audit staffa. be

21、independent of the operating departments.b. be independent of the accounting department.c. report directly to a high level of authority within the organization such as the audit committee.d. achieve all of the above.27 Management is often unwilling to implement an ideal system ofinternal controlsbec

22、ausea. control failures are infrequent.b. such a system is too expensive.c. sufficient technology does not exist to afford an ideal system.d. risks are often overstated.28 Internal controls can never be considered as absolutely effective becausea. their effectiveness is limited by the competency and

23、 dependability of the companys personnel.b. controls always have inherent weaknesses that can be exploited.c. controls are designed to prevent and detect only material misstatements.d. none of the above.29 A major control available in a small company, which might not be feasible in a large company,

24、isa. a wider segregation of duties.b. a voucher system.c. fewer transactions to process.d. the owner-managers personal interest and closerelationshipwith personnel.30 An auditors attempt to gain an understanding of the accounting system is typically accomplished and documented bya. a narrative descr

25、iption of the system.b. a flowchart.c. a questionnaire.d. using any of the above.31 IT has several significant effects on an organization. Which of the following would not be important from an auditing perspective?a. Organizational changes.b. The visibility of information.c. The potential for materi

26、al misstatement.d. None of the above; i.e., they are all important.32 The audit procedure which is least useful in gathering evidence on significant computer processes isa. documentation.b. observation.c. test decks.d. generalized audit software.33 Which of the following is not a benefit of using IT

27、 based controls?a. Ability to process large volumes of transactions.b. Ability to replace manual controls with computer-based controls.c. Reduction in misstatements due to consistent processing of transactions.d. Over-reliance on computer generated reports.34 Which of the following is not a risk spe

28、cific to IT environments?a. Reliance on the functioning capabilities of hardware and software.b. Increased human involvement.c. Loss of data due to insufficient backup.d. Reduced segregation of duties.35 Which of the following is not an enhancement to internal control that will occur as a consequenc

29、e of increased reliance on IT?a. Computer controls replace manual controls.b. Higher quality information is available.c. Computer-based controls provide opportunities to enhance segregation of duties.d. All of the above are enhancements.36 Which of the following are not an application control?a. Processing controls.b. Output controls.c. Hardware controls.d. Input controls.37 A sample in which the characteristics o