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11) Who bears ultimate responsiblity for the ficuscial statements? A) management of the organitation, equaly mith the extemal auditors that audit the statements B) management

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11) Who bears ultimate responsiblity for the ficuscial statements? A) management of the organitation, equaly mith the extemal auditors that audit the statements B) management and the shareholsers of the orcanication. C) the external auditer that audits the statements. D] management of the organitation. 121 Which is not an attrbute of an external auditae? A) indeptendence B) auditee advocacy C) objectivity D) concern for the public interest. 131. The ACCPA's Statemenss on Auliting Srandardr can be fescribed as. A) peoviding very specilic guidance about the specific activities an auditor must perform on each efesemement. B) simitar to financial accounting chandards in that they are developed by the gnvernment. C) tend to be general in nature and requre a ereat deal of professional judemment. D) providing assurance that an ausiter will eot issue an incorrect opinion. 14) Which of the follewing best describes the roik of corporate governance? A) Management decides which accountict frinciples are the most appropriate. B) Shareholders vote to deode whe should be members of the board of directors: C) Management is accountable to shareholders and otber constivents for the utilization of the entity's resources. D) Management offen is compensaned based on the company's profiability. 15) Which of the following best describes what is meant by generally accepted auditing standards? A) audit assertions generally determined on audit engkgements B) acts to be performed by the auditor C) standards of quality for the auditor's perioenance D) procedures to be used to gather eridence to sapport financial statements 16) In assessing whether to actept a client for an audit engagement, a CPA should consider A) the current financial bealth of the prorpective ilient. B) the integrity of manasement. C) the CPA's overall encagement riak. D) All of these choices are correct

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