1. The BEST explaination of cross-referencing audit workpapers allows an auditor to

a. Easily trace general ledger balances to the client's financial statements

b. Easily find support for corresponding documents within the set of workpapers

c. Easily compute the footing and mathematical accuracy within a workpaper

2. PCAOB auditing standards in which of the following in standards of reporting?

a. The client financials were compiled in accordance with GAAP

b. The client financials were compiled in accordance with GAAS

c. The audit firm can report only on information provided and confirmed by the client3. Which situation would most likely be flagged as material?

3. Which situation is most likely to be flagged as material

a. A customer of our client whose cumulative balance totals $75,000 of accounts receivable of $600,000 (but no one sales invoice totals more than $8,500)

b. A customer of our client who has only one receivable of $25,000 of an accounts receivable balance of $1 million

c. A customer of our client who has two sales invoices of $20,000 each with a total client receivable balance of $800,0004. Which organization is responsible for oversight of GAAS for public companies?

4. Which organization is responsible for oversight of GAAS for public companies

a. GASB

b. PCAOB

c. AICPA