An assurance engagement as compared to a non-assurance engagement, requires:

Select one:

an opinion to be provided.

a positive not a negative opinion.

the assurance practitioner to reduce the assurance risk to a level that is appropriate to the engagement.

all of the above are required.

The group which has the legal responsibility for removal of the auditor is:

Select one:

the shareholders

management

the board of directors

the audit committee

Circumstances where the auditor is justified in qualifying the audit report because of an inability to obtain sufficient appropriate audit evidence would not include which of the following?

Select one:

The auditor runs out of time to follow normal auditing procedures because it has scheduled too many clients for audit in the final month of the audit period.

Where a fire has destroyed the entitys accounting records.

The auditor is not able to obtain sufficient appropriate audit evidence about an associated entity.

The auditor is appointed after the count of physical inventories has occurred.

The separation of ownership and control in large organisations has resulted in:

Select one:

CLERP.

the insurance hypothesis.

an audit expectation gap.

an agency problem.

The COSO enterprise risk management integrated framework covers five components of internal control. Which of the following is not a component?

Select one:

Which of these bodies in Australia established a code of professional conduct?

Select one:

ASIC and CALDB.

APESB

CAANZ and CPA Australia.

AARF and AASB

Performance engagements investigate:

Select one:

the causes and effects of possible fraudulent activities.

the full range of organisational sustainability performance.

the economy, efficiency, and effectiveness of business activities.

compliance with regulations and contractual obligations.

Which of the following is part of phase III of the audit process, which is responding to assessed risks?

Select one:

Identify significant inherent risks.

Assess the risk of material misstatement.

Determine the nature, timing, and extent of audit tests.

Conduct tests of controls

When the auditor issues a disclaimer of opinion on a set of financial statements, the audit report should:

Select one:

have a paragraph headed disclaimer of opinion.

express an adverse opinion.

be unqualified.

begin with the term except for

The independence of the Auditor General is:

Select one:

prescribed by the Australian Constitution.

prescribed by the Auditor General Act 1997 (Cwlth).

assured by the houses of Parliament.

approved by the Governor General.

Strategy and objective-setting.

Performance.

Governance and culture.

Risk managemen