1.If an auditor discovers material misstatements after the audit report is issued, the auditor's first step should be to notify:

appropriate regulatory agencies

the audit firm's legal council

the audit committee of the client

the client

2.The auditor is responsible for communicating significant deficiencies to:

CEO

Federal or state law enforcement

Management

The audit committee

3.Which of the following would be considered a violation of the professional code of conduct related to independence?

you review an attest client's internal controls

you terminated the controlled of an asset client's company

you were an employee of an attest client's company 20years ago

your classmate in college is a director of an attest client's company

4.Which of the following would be considered a violation of the professional code of conduct related to competence?

you hire a student that just passed the CPA exam but discover the student made several mistakes during the audit

you hire a student to audit a new client and the student is constantlyresearching and consulting with others

you hire two new auditors and evaluate their ability to exercise sound judgment during an audit

you hired a student in his senior year to perform a complete audit of a new client