1.Which of the following is unlikely to be considered an attestation engagement? (Points : 1)

Internal control examination for a nonpublic company Management's discussion and analysis review Services for elder care engagements Services for SysTrust engagements

Question 2.2.Which standards do most of the new assurance services follow? (Points : 1)

Accounting Standards for Other Assurance Services Generally Accepted Auditing Standards International Auditing Standards Standards for Attestation Services

Question 3.3.Regarding a review of the management discussion and analysis, what is typically included in the report? (Points : 1)

General use of the report Restricted use of the report Statement of disclaimer of opinion required Statement of internal controls required

Question 4.4.What is the first step for reviewing financial statement data for a nonpublic company? (Points : 1)

Assess the risks of material misstatements. Make preliminary judgments about risk and materiality. Perform an assessment of internal control activities. Understand the client's organization and characteristics.

Question 5.5.Which of the following is typically omitted with a comfort letter to an investment banking firm? (Points : 1)

CPA's opinion on the compliance with applicable securities acts Expression of negative assurance Registration statement for the securities Statement as to the auditor's independence

Question 6.6.Which of the following would be least likely to be included in an engagement report for an agreed-upon procedures attestation? (Points : 1)

Level of responsibility for procedures performed Limited assurance on presented information Summary of procedures performed Use of the report is restricted

Question 7.7.What is the appropriate action to take when management of a nonpublic company refuses to correct a material departure from GAAP? (Points : 1)

Attach a note to explain the departure's effects Disclose the departure in a separate paragraph Issue an adverse opinion Issue a compilation report

Question 8.8.Which of the following is the least acceptable form of association with prospective financial statements? (Points : 1)

Agreed-upon procedures Compilation Examination Review

Question 9.9.Which organization develops and communicates new assurance services to the accounting community? (Points : 1)

Assurance Services Executive Committee Attestation Standards Board Auditing Standards Board Council of Auditing Executives

Question 10.10.Which of the following is least likely to be disclosed during an accountant's forecast engagement? (Points : 1)

Character of work performed Major assumptions made Probability of meeting estimates Sources of information

Question 11.11.Which of the following statements is true regarding an engagement to apply agreed-upon procedures to the prospective financial statements? (Points : 1)

Engagements can be used for forecasts but not projections Professional standards do not allow these engagements Report's use is restricted to specific users Responsibility falls under the practitioner

Question 12.12.For which of the following situations is it inappropriate to issue a modification of a compilation report? (Points : 1)

Where there is a departure from GAAP Where there is a lack of auditor independence Where there is inadequate financial statement disclosure Where there is inconsistently applied GAAP

Question 13.13.Which of the following can an accountant report on regarding a prospective financial statement intended for general use? (Points : 1)

Financial forecast Financial projection Partial presentation Pro forma financial statement

Question 14.14.What should auditors do when they have completed an audit and are subsequently asked to report on compliance with regards to certain contractual agreements? (Points : 1)

Accept the engagement and provide reasonable assurance on compliance Accept the engagement but provide negative assurance on compliance Cannot accept the compliance engagement Only accept the engagement when the contracts have been audited

Question 15.15.What is the term used to describe reports provided shortly after the related information is released? (Points : 1)

Continuous auditing Serial auditing Simultaneous auditing Systems reliability auditing

Question 16.16.If the income tax basis financial statements that were prepared are not titled correctly, what is the appropriate auditor action? (Points : 1)

Explain the terminology in the notes to the statements Issue a compilation report Issue a disclaimer of opinion Modify the report to disclose discomfort

Question 17.17.For which of the following situations is a modification of a review report required? (Points : 1)

A change in accounting principles A change in an accounting estimate A departure from GAAP A substantial going concern issue

Question 18.18.What should an agreed-upon procedures report contain regarding the testing of procedures and findings contain? (Points : 1)

Acknowledgement of responsibility for sufficiency of procedures Disclaimer of opinion on the financial statements Negative assurance of not disclosing all conditions Statement on restrictions on the use of the report

Question 19.19.Which attestation engagement is most closely related to a financial statement audit when considering the assurance provided? (Points : 1)

Agreed-upon procedures Evaluation Examination Review

Question 20.20.What is the correct term for an international information format designed for business information specifically? (Points : 1)

ERP Integrated Systems Format XBRL XML

Question 21.21.Which type of service has a report where the use is limited to only specified parties? (Points : 1)

Agreed-upon procedures Audits Compilations Reviews

Question 22.22.For which of the following engagements is there likely to be a consideration for confidentiality and privacy of a system? (Points : 1)

Financial statement audit Internal control over reporting Trust services Website associate

Question 23.23.Which of the following statements is true regarding audit reports on tax-basis financial statements? (Points : 1)

Emphasis-of-matter paragraph is omitted from the report Financial statement purpose is disclosed in the notes Modified opinions are the only appropriate reports Use of the report does not have to be restricted

Question 24.24.For which type of report is there a lack of explicit assurance? (Points : 1)

Audits Compilations Examinations Reviews

Question 25.25.Which of the following is a step that is used during a review engagement? (Points : 1)

Compare current and prior year balances Confirm cash and accounts receivable Examine board minutes for the entire year Recalculate all depreciation entries