1. Define what is attestation engagement, provide three examples of those services and compare the work performed by the auditor on each one.

2. What is suitable criteria and what is the suitable criteria for the audit of financial statements?

3. Why audited financial statements are important for third party users? Provide examples.

4. Comment about the accounting professions credibility crisis in 2000 and its relevance to the profession?

5. Compare the function of the AICPA and PCAOB related to the auditing of financial statements.

6. Define generally accepted auditing standards, who issue them?

7. What is the auditors personal responsibility regarding the financial statements audit?

8. Define and contrast the different types of auditors report that an auditor can issue.

9. Which are the Attestation Standards issued by the PCAOB?

10. Which are the Statement on Quality Control Standards issued by AICPA

11. Mention the Rules of the AICPA Code of Professional Conduct. Which one you consider the most relevant to the auditor while performing an audit and why?

12. Define the components of the audit risk formula ( AR = IR x CR x DR ) and how it relates to the audit work.

13. What is management assertions and how them are related to the financial statements audit?

14. Discuss the relevance of audit evidence. Which type of audit evidence is most relevant to the audit?

15. Which are the overall categories of audit procedures to obtain sufficient and appropriate audit evidence?

16. Which are the types of audit procedures used by auditors to obtain evidence?

17. When are analytical procedures performed during the audit?

18. Mention and briefly explain the different stages and tasks performed during the financial statements audit.

19. Define internal control components and provide examples.

20. Mention the transaction cycles and the different process performed in each one.

21. Define and contrast the following documents:

a) Engagement letter

b) Representation letter

c) Letter of inquiry

22. Mention the major differences between the audit report issued for public vs. nonpublic clients.