Exam 2: Professional Standards

Generally accepted auditing standards are

A periodic review of an audit firm's system of quality control by the PCAOB is referred to as a(n):

Internal evidence

All of the following statements are true regarding generally accepted auditing standards (GAAS)except:

During which stages of an audit examination are auditors required to exhibit the appropriate use of professional judgment? Gathering Drawing evidence conchusions A. Yes No B. Yes Yes C. No Yes D No No

An internal evaluation of the significant judgments made by the audit team and the conclusions reached in formulating its report for engagements meeting specified criteria is known as a(n):

Which of the following is not true with respect to the auditors' report for a public entity?

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

Which of the following paragraphs references the conduct of the audit in accordance with PCAOB standards?

Which element of a system of quality control strives to provide the firm with reasonable assurance that its policies and procedures are operating effectively?

When a firm decides to withdraw from an engagement,it should document all of the following except:

Which of the following is not a concept from the performance principle under generally accepted auditing standards?

Audit evidence is usually considered sufficient when

Firm A performs audits of 60 public entities,while firm B performs audits of 120 public entities.How often must each firm undergo a PCAOB inspection?

The preparation of an audit plan prior to the beginning of field work is appropriately considered documentation of

The performance principle would include all of the following except:

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

Which of the following statements is not true with respect to the evidence that would be gathered when assessments of control risk are high?

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

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