6If auditors believe there is a risk that expenses incurred before year-end will be wrongly recorded, they will:

		Perform analytical review analysis on the client's expense accounts.
		Send out confirmation requests to a sample of the client's suppliers.
		Trace from documents to clients records to confirm accuracy.
		Vouch from documents to clients records to confirm accuracy.

7If inherent risk is high and no assurance has been obtained from controls testing:

		extensive substantive procedures need to be performed to estimate the dollar value of any error in the account balance.
		only overall analytical review procedures need to be performed to reduce detection risk to an acceptable level.
		no further substantive testing needs to be performed.
		None of the above.

8When testing for rights and obligations, an auditor searches for evidence:

		that all disclosures that should have been included in the financial report have been included.
		to verify that a recorded transaction or event took place and relates to the entity.
		to verify that recorded assets are owned by the entity.
		that transactions and events have been recorded at appropriate amounts.

9The fundamental ethical characteristics required of professional accountants are:

		competence, objectivity and integrity.
		professionalism, experience and expertise.
		self-interest, self-review and familiarity.
		authority, community sanction and knowledge.

10A high-risk condition for the fraud risk factor opportunity would be:

		known or expected future layoffs.
		that the company is close to its debt covenants.
		behaviour indicating displeasure or dissatisfaction with the company or its treatment of an employee.
		large amounts of cash on hand.