Homework Assignment Week 1
Homework Assignment Week 1
2-16 (Objective 2-6) The following questions deal with auditing standards. Choose the best response.
A. International Standards on Auditing are established by the:
(2) International Auditing and Assurance Standards Board.
B. Which of the following best describes what is meant by U.S. generally accepted auditing standards?
(2) Measures of the quality of the auditor’s performance.
C. The general group of U.S. generally accepted auditing standards includes a requirement that
(3) Due professional care be exercised by the auditor
D. What is the general character of the three generally accepted auditing standards classified as standards of field work?
(3) The criteria of audit planning and evidence gathering.
2-17 (Objective 2-7) The following questions concern quality control standards. Choose the best response.
A. A CPA firm is reasonably assured of meeting its responsibility to provide services that conform with professional standards by
(2) Having an appropriate system of quality control.
B. The nature and extent of a CPA firm’s quality control policies and procedures depend on:
(1) Yes Yes Yes
C. Which of the following are elements of a CPA firm’s quality control that should be considered in establishing its quality control policies and procedures?
(2) Yes Yes Yes
D. One purpose of establishing quality control policies and procedures for deciding whether to accept a new client is to
(3) Provide reasonable assurance that the integrity of the client is considered.
2-19 (Objective 2-7) For each of the following procedures taken from the quality control manual of a CPA firm, identify the applicable element of quality control from Table 2-4 on page 38.
A. Engagement Performance
B. Monitoring
C. Acceptance & Continuation of Clients and Engagements
D. Engagement Performance
E. Engagement Performance
F. Engagement Performance
G. Relevant Ethical Requirements
H. Human Resources
I. Human Resources
J. Leadership Responsibilities
2-20
2-16 (Objective 2-6) The following questions deal with auditing standards. Choose the best response.
A. International Standards on Auditing are established by the:
(2) International Auditing and Assurance Standards Board.
B. Which of the following best describes what is meant by U.S. generally accepted auditing standards?
(2) Measures of the quality of the auditor’s performance.
C. The general group of U.S. generally accepted auditing standards includes a requirement that
(3) Due professional care be exercised by the auditor
D. What is the general character of the three generally accepted auditing standards classified as standards of field work?
(3) The criteria of audit planning and evidence gathering.
2-17 (Objective 2-7) The following questions concern quality control standards. Choose the best response.
A. A CPA firm is reasonably assured of meeting its responsibility to provide services that conform with professional standards by
(2) Having an appropriate system of quality control.
B. The nature and extent of a CPA firm’s quality control policies and procedures depend on:
(1) Yes Yes Yes
C. Which of the following are elements of a CPA firm’s quality control that should be considered in establishing its quality control policies and procedures?
(2) Yes Yes Yes
D. One purpose of establishing quality control policies and procedures for deciding whether to accept a new client is to
(3) Provide reasonable assurance that the integrity of the client is considered.
2-19 (Objective 2-7) For each of the following procedures taken from the quality control manual of a CPA firm, identify the applicable element of quality control from Table 2-4 on page 38.
A. Engagement Performance
B. Monitoring
C. Acceptance & Continuation of Clients and Engagements
D. Engagement Performance
E. Engagement Performance
F. Engagement Performance
G. Relevant Ethical Requirements
H. Human Resources
I. Human Resources
J. Leadership Responsibilities
2-20