1. Which of the following is not a required paragraph in unmodified paragraph for US nonpublic companies?

		Introductory Paragraph
		Auditors responsibilities paragraph
		Managements responsibilities paragraph
		Signature, tenure, location, and date

2.

When a subsequent event provides evidence about conditions that did not exist at the balance sheet date, the auditor should do which of the following?

		ensure that any necessary footnote disclosures be included with the statements.
		ensure that the financial statements are adjusted to reflect the information, including any necessary footnote disclosures.
		give an inappropriate opinion.
		provide management with a new engagement letter to document the terms of the revised arrangement.

3.

Which of the following is true regarding the audit report for a US public company (issuer)?

		Reference should be made to both PCAOB and AICPA audit reporting standards.
		PCAOB standards should not be mentioned at all, although their use is implied in the auditor's report.
		The report should include references to PCAOB audit reporting standards.
		Reference may be made to either PCAOB standards or AICPA audit reporting standards.

4.

The audit procedure of vouching down from financial statement to supporting documents can be used to test which type of error?

		overstatement
		understatement
		either overstatement or understatement
		neither overstatement nor understatement

5.

In the audit risk model, what is the expected relationship between the amount and persuasiveness of audit evidence and detection risk?

		Direct.
		Indirect.
		Inverse.
		Reversed.