Assume that you have been hired to perform the audit of Hanmei's financial statements. When planning such an audit, you often may need to refer to various of the profession's auditing standards. For each of the following circumstances in Column A, select the topic from the Professional Standards that is likely to provide the most guidance in the planning of the audit.

Question-1: Audit reports considerations when audit of a subsidiary of the client will be performed by Williams & Co., CPAs.

Select one:

a. Part of the audit performed by other independent auditors

b. Materiality

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 2

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Auditing and reporting guidance on the possible need to reaudit previous year results due to the disbanding of the firm that performed last year's audit.

Select one:

a. Related parties

b. Understanding the entity and its environment and assessing the risk of material misstatement

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 3

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Comparing a client's unaudited results for the year with last year's audited results.

Select one:

a. Analytical procedure

b. Materiality

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 4

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Details on considering design effectiveness of controls.

Select one:

a. Analytical procedure

b. Understanding the entity and its environment and assessing the risk of material misstatement

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 5

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Hanmei Corp has transactions with the corporation president's brother.

Select one:

a. Analytical procedure

b. Related parties

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 6

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Possible risk factors related to misappropriation of assets.

Select one:

a. Analytical procedure

b. Understanding the entity and its environment and assessing the risk of material misstatement

c. Management respresentations

d. Consideration of fraud in financial statement audit

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Question 7

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Requirements relating to identifying violations of occupational safety and health regulations.

Select one:

a. Analytical procedure

b. Management respresentations

c. Consideration of laws and regulations

d. Consideration of fraud in financial statement audit

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Question 8

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The importance of considering the possibility of overstated revenues (for example, through premature revenue recognition).

Select one:

a. Analytical procedure

b. Materiality

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 9

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The need to "brainstorm" among audit team members about how accounts could be intentionally misstated.

Select one:

a. Analytical procedure

b. Materiality

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit

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Question 10

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The relationship between materiality used for planning versus evaluation purposes.

Select one:

a. Analytical procedure

b. Materiality

c. Communications between predecessors and successors auditors

d. Consideration of fraud in financial statement audit