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1. The SEC requires publicly traded companies to file a. 10Ks that include audited quarterly financial statements and audited management reports on internal control over

1. The SEC requires publicly traded companies to file

a. 10Ks that include audited quarterly financial statements and audited management reports on internal control over financial reporting.

b. 10Qs that include audited quarterly financial statements

c. 10Ks that include audited annual financial statements with or without a manegment report on ICFR

2. The major advantage to using statistical techniques is:

a. it limits the risk of incorrect acceptance

b. it relate sample size to audit risk

c. it limits the risk of inefficiency

d. it limits sample size to the smallest appropriate size

d. 10Ks that include audited annual financial statements, a management report on ICFR, and the audit opinions resulting from an intergrated audit

3. The three sections or groups of audit standards are:

a. field work, general and final

b. field work, reporting, and general

c. field work, testing and internal control review

d. field work, general and over all

4. The rule of independance would relate to which of the following accounting professionals?

a. internal auditor

b. CPA

c. controller preparing the firms financial statements

d. tax accountant

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