Exam 25: Other Assurance Services

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A financial statement review conducted in compliance with Statements on Standards for Accounting and Review Services (SSARS)requires the accountant to obtain evidence to express negative assurance.One of these procedures is to "perform analytical procedures." List three other procedures the accountant must perform.

(Essay)

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Question 21

When performing a preparation service,the CPA must issue a report and must be independent.

(True/False)

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Question 22

Statements on Standards for Accounting and Review Services (SSARS)are issued by the SEC.

(True/False)

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Question 23

When issuing a debt compliance letter,the auditor's opinion should be in the form of a negative assurance.

(True/False)

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Question 24

An agreed-upon procedures engagement is one in which

(Multiple Choice)

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Question 25

The service auditor's Type 2 report contains

(Multiple Choice)

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Question 26

When performing a review of interim information for a public company,the accountant ordinarily does not perform tests of the accounting records,independent confirmations,or physical examinations.

(True/False)

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Question 27

The AICPA has discontinued the SysTrust seal program.

(True/False)

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Question 28

When the accountant has performed a review and has determined that no material changes to the financial statements are needed,the first paragraph of the review report

(Multiple Choice)

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Question 29

WebTrust services are performed under the direction of the SSARS.

(True/False)

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Question 30

In a WebTrust attestation engagement the client engages a CPA to provide what level of assurance that the company's website complies with Trust Services principles?

(Multiple Choice)

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Question 31

Which of the following is not an element of the examination of prospective financial statements?

(Multiple Choice)

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Question 32

Each page of the financial statements reviewed for a nonpublic entity should include the reference

(Multiple Choice)

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Question 33

Statements on Standards for Accounting and Review Services (SSARS)govern the CPA's association with unaudited financial statements of nonpublic companies.

(True/False)

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Question 34

Which of the following is not one of the types of engagements and related forms of conclusions that are defined by the attestation standards?

(Multiple Choice)

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Question 35

A CPA firm can issue a compilation report even if it is not independent with respect to the client.

(True/False)

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Question 36

Which are prospective financial statements that present an entity's expected financial position,results of operations,and cash flows,to the best of the responsible party's knowledge and belief?

(Multiple Choice)

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Question 37

Which of the following is a type of prospective financial statement as defined by the AICPA attestation standards?

(Multiple Choice)

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Question 38

Which of the following is not one of the five Trust Services principles?

(Multiple Choice)

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Question 39

The concept of limited assurance is provided for in which of the following engagements?

(Multiple Choice)

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Question 40

Showing 21 - 40 of 112

Exam 25: Other Assurance Services

When performing a preparation service,the CPA must issue a report and must be independent.

Statements on Standards for Accounting and Review Services (SSARS)are issued by the SEC.

When issuing a debt compliance letter,the auditor's opinion should be in the form of a negative assurance.

An agreed-upon procedures engagement is one in which

The service auditor's Type 2 report contains

When performing a review of interim information for a public company,the accountant ordinarily does not perform tests of the accounting records,independent confirmations,or physical examinations.

The AICPA has discontinued the SysTrust seal program.

When the accountant has performed a review and has determined that no material changes to the financial statements are needed,the first paragraph of the review report

WebTrust services are performed under the direction of the SSARS.

In a WebTrust attestation engagement the client engages a CPA to provide what level of assurance that the company's website complies with Trust Services principles?

Which of the following is not an element of the examination of prospective financial statements?

Each page of the financial statements reviewed for a nonpublic entity should include the reference

Statements on Standards for Accounting and Review Services (SSARS)govern the CPA's association with unaudited financial statements of nonpublic companies.

Which of the following is not one of the types of engagements and related forms of conclusions that are defined by the attestation standards?

A CPA firm can issue a compilation report even if it is not independent with respect to the client.

Which are prospective financial statements that present an entity's expected financial position,results of operations,and cash flows,to the best of the responsible party's knowledge and belief?

Which of the following is a type of prospective financial statement as defined by the AICPA attestation standards?

Which of the following is not one of the five Trust Services principles?

The concept of limited assurance is provided for in which of the following engagements?

The Demand for Audit and Other Assurance Services

The Cpa Profession

Audit Reports

Professional Ethics

Legal Liability

Audit Responsibilities and Objectives

Audit Evidence

Audit Planning and Analytical Procedures

Materiality and Risk

Fraud Auditing

Internal Control and Coso Framework

Assessing Control Risk and Reporting on Internal Controls

Overall Audit Strategy and Audit Program

Audit of the Sales and Collection Cycle: Tests of Controls

Audit Sampling for Tests of Controls and Substantive Tests of Transactions

Completing the Tests in the Sales and Collection Cycle: Accounts Receivable

Audit Sampling for Tests of Details of Balances

Audit of the Acquisition and Payment Cycle: Tests of Controls,

Completing the Tests in the Acquisition and Payment Cycle:

Audit of the Payroll and Personnel Cycle

Audit of the Inventory and Warehousing Cycle

Audit of the Capital Acquisition and Repayment Cycle

Audit of Cash and Financial Instruments

Completing the Audit

Internal and Governmental Financial Auditing and Operational Auditing

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