Question 1

Reporting under the National Greenhouse and Energy Reporting Act 2007 is optional for Australian companies.

Accepted Answer

A) True 
 B)False

Question 2

Effectiveness refers to the degree to which costs are reduced without reducing efficiency.

Accepted Answer

A) True 
 B)False

Question 3

Of the three types of assurance engagements, examination engagements provide a higher level of assurance than agreed-upon procedures engagements and review engagements.

Accepted Answer

A) True 
 B)False

Question 4

Discussion and agreement is one source of evaluation criteria for completing a performance audit.

Accepted Answer

A) True 
 B)False

Question 5

Internal auditors should have the authority to require implementation of suggestions for improvement.

Accepted Answer

A) True 
 B)False

Question 6

Which one of the following statements is NOT correct? Under ASA 800, the audit report for special purpose financial reports would:

Accepted Answer

A)  contain an opinion section. 
B)  report the auditor's view of the appropriateness of the financial reporting framework used. 
C)  identify the financial reporting framework. 
D)  indicate that the financial report is a special purpose financial report. 
A)  contain an opinion section. 
B)  report the auditor's view of the appropriateness of the financial reporting framework used. 
C)  identify the financial reporting framework. 
D)  indicate that the financial report is a special purpose financial report.

Question 7

Which of the following groups would NOT be involved in a performance audit?

Accepted Answer

A)  public accounting firms 
B)  government auditors 
C)  internal auditors 
D)  none of the above 
A)  public accounting firms 
B)  government auditors 
C)  internal auditors 
D)  none of the above

Question 8

The scope section on a special purpose financial report audit is similar to that required for audit reports on general purpose financial reports.

Accepted Answer

A) True 
 B)False

Question 9

What are the two primary differences between audit reports of specified components and those prepared as part of ordinary audits?

Accepted Answer

The two primary differences are as follo

Question 10

Which of the following is NOT one of the general types of prospective financial statements included in the attestation standards?

Accepted Answer

A)  forecasts 
B)  earnings estimates 
C)  projections 
D)  all of the above 
A)  forecasts 
B)  earnings estimates 
C)  projections 
D)  all of the above

Question 11

The opinion section on a special purpose financial report audit is similar to that required for audit reports on general purpose financial reports.

Accepted Answer

A) True 
 B)False

Question 12

Independence of the auditor is not relevant to greenhouse gas emission assurance engagements.

Accepted Answer

A) True 
 B)False

Question 13

Assurance represents the extent to which a practitioner can attest that an assertion is correct.

Accepted Answer

A) True 
 B)False

Question 14

A concise report sent to shareholders instead of a full report consists of:

Accepted Answer

A)  the directors' report. 
B)  a statement by the auditor. 
C)  a concise financial report. 
D)  all of the above 
A)  the directors' report. 
B)  a statement by the auditor. 
C)  a concise financial report. 
D)  all of the above

Question 15

If internal auditors are effective, then the external auditor is justified in reducing the assessed level of control risk.

Accepted Answer

A) True 
 B)False

Question 16

Compliance audits ordered by the regulator under the National Greenhouse and Energy Reporting Act 2007 would be at the cost of:

Accepted Answer

A)  the government. 
B)  the entity. 
C)  both A and B 
D)  none of the above 
A)  the government. 
B)  the entity. 
C)  both A and B 
D)  none of the above

Question 17

Registered company auditors are the only auditors qualified to conduct greenhouse gas emission assurance engagements.

Accepted Answer

A) True 
 B)False

Question 18

The assurance standards define three levels, or types, of engagements.State these three types of assurance engagements.

Accepted Answer

.examinati

Question 19

The auditing and assurance standards developed by the AUASB are not relevant to greenhouse gas emission assurance engagements.

Accepted Answer

A) True 
 B)False

Question 20

Confirmation and re-performance are used less extensively for most performance audits than for financial audits.

Accepted Answer

A) True 
 B)False

Reporting under the National Greenhouse and Energy Reporting Act 2007 is optional for Australian companies.

Effectiveness refers to the degree to which costs are reduced without reducing efficiency.

Of the three types of assurance engagements, examination engagements provide a higher level of assurance than agreed-upon procedures engagements and review engagements.

Discussion and agreement is one source of evaluation criteria for completing a performance audit.

Internal auditors should have the authority to require implementation of suggestions for improvement.

Which one of the following statements is NOT correct? Under ASA 800, the audit report for special purpose financial reports would:

Which of the following groups would NOT be involved in a performance audit?

The scope section on a special purpose financial report audit is similar to that required for audit reports on general purpose financial reports.

What are the two primary differences between audit reports of specified components and those prepared as part of ordinary audits?

Which of the following is NOT one of the general types of prospective financial statements included in the attestation standards?

The opinion section on a special purpose financial report audit is similar to that required for audit reports on general purpose financial reports.

Independence of the auditor is not relevant to greenhouse gas emission assurance engagements.

Assurance represents the extent to which a practitioner can attest that an assertion is correct.

A concise report sent to shareholders instead of a full report consists of:

If internal auditors are effective, then the external auditor is justified in reducing the assessed level of control risk.

Compliance audits ordered by the regulator under the National Greenhouse and Energy Reporting Act 2007 would be at the cost of:

Registered company auditors are the only auditors qualified to conduct greenhouse gas emission assurance engagements.

The assurance standards define three levels, or types, of engagements.State these three types of assurance engagements.

The auditing and assurance standards developed by the AUASB are not relevant to greenhouse gas emission assurance engagements.

Confirmation and re-performance are used less extensively for most performance audits than for financial audits.

Demand for audit and assurance services

Auditors’ legal environment

Audit quality and ethics

Audit responsibilities and objectives

Audit evidence

Audit planning and documentation

Materiality and risk

Internal control and control risk

Fraud auditing

The impact of information technology on the audit process

Overall audit plan and audit program

Audit of the sales and collection cycle: Tests of controls and substantive tests of transactions

Completing tests in the sales and collection cycle: Accounts receivable

Audit sampling

Audit of transaction cycles and financial statement balances I

Audit of transaction cycles and financial statement balances II

Completing the audit

Audit reporting

Filters

Exam 19: Other auditing and assurance engagements

Reporting under the National Greenhouse and Energy Reporting Act 2007 is optional for Australian companies.

Effectiveness refers to the degree to which costs are reduced without reducing efficiency.

Of the three types of assurance engagements, examination engagements provide a higher level of assurance than agreed-upon procedures engagements and review engagements.

Discussion and agreement is one source of evaluation criteria for completing a performance audit.

Internal auditors should have the authority to require implementation of suggestions for improvement.

Which one of the following statements is NOT correct? Under ASA 800, the audit report for special purpose financial reports would:

Which of the following groups would NOT be involved in a performance audit?

The scope section on a special purpose financial report audit is similar to that required for audit reports on general purpose financial reports.

What are the two primary differences between audit reports of specified components and those prepared as part of ordinary audits?

Which of the following is NOT one of the general types of prospective financial statements included in the attestation standards?

The opinion section on a special purpose financial report audit is similar to that required for audit reports on general purpose financial reports.

Independence of the auditor is not relevant to greenhouse gas emission assurance engagements.

Assurance represents the extent to which a practitioner can attest that an assertion is correct.

A concise report sent to shareholders instead of a full report consists of:

If internal auditors are effective, then the external auditor is justified in reducing the assessed level of control risk.

Compliance audits ordered by the regulator under the National Greenhouse and Energy Reporting Act 2007 would be at the cost of:

Registered company auditors are the only auditors qualified to conduct greenhouse gas emission assurance engagements.

The assurance standards define three levels, or types, of engagements.State these three types of assurance engagements.

The auditing and assurance standards developed by the AUASB are not relevant to greenhouse gas emission assurance engagements.

Confirmation and re-performance are used less extensively for most performance audits than for financial audits.

Demand for audit and assurance services

Auditors’ legal environment

Audit quality and ethics

Audit responsibilities and objectives

Audit evidence

Audit planning and documentation

Materiality and risk

Internal control and control risk

Fraud auditing

The impact of information technology on the audit process

Overall audit plan and audit program

Audit of the sales and collection cycle: Tests of controls and substantive tests of transactions

Completing tests in the sales and collection cycle: Accounts receivable

Audit sampling

Audit of transaction cycles and financial statement balances I

Audit of transaction cycles and financial statement balances II

Completing the audit

Audit reporting

Filters