1. The term confirmation in auditing referrers to

a)The notation in the auditors work papers that states all of the account balances have been verified by the client for accuracy

b)The notations on the primary auditors work papers that correspond to those of the managing auditor

c)The receipt of a written or oral response from an independent third party verifying the accuracy of information requested by the auditor

d)The written verification by the client to the auditor stating that all of the work they agreed upon has been completed

2. Auditors communicate with clients in a number of ways. The initial communication is through a(n)

a)assessment report

b)audit letter

c)audit risk report

d)engagement letter

3. A client calls you and says he refuses to pay for the audit because after thinking over the fees he has decided they are high. He wants you to provide your work papers so he can take them to another, less expensive, auditor. The work papers property of the

a)Auditor and do not have to be given to the client

b)Client since the auditor works for the client, however a civil law suit must be filed

c)State authorities that regulate the audit profession in the state where the audit was performed so the client needs to contact the state to obtain the work papers

d)SEC and AICPA so the client would need to contact either of these agencies

4. _____ has established a Code of Professional Conduct containing rules of conduct for accountants

a)Accounting Ethics Review Committee

b)American Ethics Committee

c)American Institute of Certified Public Accountants

d)Governmental Accounting Standards Board