Exam 2: Professional Standards

Which of the following would most likely be a violation of the independence requirement found in the responsibilities principle under generally accepted auditing standards?

A vendor's invoice received and held by the client would be considered what type of evidence?

Under generally accepted auditing standards,which of the following relates to the responsibilities principle?

The relevant ethical requirements relating to due care,professional skepticism,and professional judgment are responsibilities of the auditor at which stage(s)of the audit?

For each of the statements below,indicate through the appropriate letter whether it relates to the PCAOB,Auditing Standards Board,both the PCAOB and Auditing Standards Board,or neither the PCAOB nor Auditing Standards Board. A. PCAOB B. Auditing Standards Board C. Both PCAOB and Auditing Standards Board D. Neither PCAOB nor Auditing Standards Board ___ 1. Conducts inspections of firms that audit public entities. ___ 2. Pronouncements may be used in the audit of nonpublic entities. ___ 3. Pronouncements may be used in the audit of public entities. ___ 4. Was created by the Sarbanes Oxley Act of 2002. ___ 5. Involved with the certification and licensure of public accountants. ___ 6. Issues Statements on Auditing Standards. ___ 7. Conducts peer reviews of firms that audit nonpublic entities. ___ 8. Sanctions individual auditors for violations of generally accepted auditing standards.

Audit evidence is usually considered sufficient when

The primary purpose of the auditors' study of internal control for a nonpublic entity is

Which of the following is an important consideration during the planning of the audit?

A CPA firm would provide itself reasonable assurance of meeting its responsibility to offer professional services that conform with professional standards by

The fundamental principles developed by the Auditing Standards Board are best described as

The initial development of auditing standards was in response to

PCAOB inspections are conducted by

The concept of _________ recognizes that a GAAS audit may fail to detect all material misstatements.

Which of the following is not related to the responsibilities principle?

An independent auditor must have which of the following?

Which of the following factors influences the risk of material misstatement?

As it relates to audit evidence,appropriateness refers to the

Control risk is

Which of the following concepts is least related to the risk of material misstatement?

Which of the following represent audit quality guides that remain stable over time and are applicable for all audits?