1.A population of details of balances with low control risk and small account balance will likely have a _______ sample size.

a.

larger

b.

smaller

c.

unchanged

2.What type of evidence would an auditor mostlikely wish to collect if their objective is to audit the existence assertion over accounts receivable ?

	a.	Inquiry
	b.	Physical Examination
	c.	Analytical Procedures
	d.	Confirmation

3. In order to reduce the amount of substantive testing that must be performed, an auditor may

	a.	rely on the client's internal audit.
	b.	perform tests of controls.
	c.	perform interim fieldwork.
	d.	None of the above

4. Significant deficiencies in internal control must be communicated in writing to those charged with governance. True False

5.Which of the following is a potential source of information regarding undisclosed commitments?

	a.	Corporate minutes
	b.	Copies of contracts
	c.	Correspondence files
	d.	All of the above