hi there,

we just done those attached quiz but we aren't sure about the corrections. we will be really appreciate if you correspond it as soon as possible..

thanks and waiting for your treasure reply

The objective of a compliance audit is to determine whether: Select one: a. the company has followed specific rules and regulations that govern the activities of the entity b. organisation is operating efficiently and effectively c. the client's financial reports are fairly stated in accordance with AASB standards d. All of the above Question 2 Question text 3 Audit committees' responsibilities include: Select one: a. controlling the progress of the audit. b. considering the scope and quality of the external audit. c. assessing the independence and objectivity of the audit team. d. all of the above Question 3 Question text 3 The Code of Ethics for Professional Accountant (APES) 110 is: Select one: a. legally applicable to the partner of the auditing company only b. not carrying the \"force of law\". c. legally applicable to both members in practice and members in business of professional bodies d. legally applicable to the audited company Question 4 Complete Question text 3 An audit of financial statements is conducted to determine whether the: Select one: a. organisation is operating efficiently and effectively b. auditee is following specific procedures or rules set down by a peer group authority c. overall financial statements are stated in accordance with specified criteria d. none of the above Question 5 Complete Question text 3 Which ethical principle set in APES 110 is intended to be satisfied when CPA Australia requires its members to demonstrate a minimum of 20 hours of continuing professional development (CPD) activities per year: Select one: a. Professional competence and due care b. Professional behaviour c. Up-to-date knowledge d. Qualified auditor Question 6 Complete Question text 3 Which one of the following would most likely be a breach of the ethical rules? Select one: a. Purchasing a motor vehicle from an audit client at a substantial discount b. Auditing the bank from which you have a home mortgage at a normal interest rate c. One of the auditing firm's partners has a friend working as an account receivables officer at the client d. Auditing Coles while owning $500 of Coles shares Question 7 Complete Question text 3 In an audit, the party who is responsible for the true and fair preparation of the financial statements is: Select one: a. the shareholder of the company b. the auditor c. the manager of the company d. all of the above parties Question 8 Complete Question text 3 Which one of the following is NOT one of the five fundamental principles of professional conduct set out in the Code of Ethics for Professional Accountants? Select one: a. Integrity b. Objectivity c. Continuing education d. Confidentiality Question 9 Complete Question text 3 Having each partner and employee complete annually a questionnaire concerning ownership of shares and membership on boards of directors is a procedure relevant to the quality control objective of: Select one: a. engagement performance b. client acceptance and continuance c. assignment of engagement teams d. ethical requirements Question text 3 According to Corporations Act 2001, the auditor: Select one: a. has a right of access to all books and records at all reasonable times. b. is able to set audit fee based on the outcome of the audit (contingent fees) c. is required to discuss with the client's audit committee details of the procedures that the auditor intends to apply. d. is able to hold a substantial portion of shares in client during the conduct of the audit Question 11 Complete Question text 4 In pursuing the audit firm's quality control objectives, the firm may maintain records indicating which partners or employees of the firm were previously employed by the firm's clients. Which quality control objective would this be most likely to satisfy? Select one: a. Independence b. Professional relationship. c. Advancement. d. Supervision Question 12 Complete Question text 3 In the audit of financial statements, the auditor examines and reports on the adherence of the client's financial statements to Select one: a. legislative requirements b. the client's rules and regulations c. applicable auditing standards d. applicable accounting standards Question 13 Complete Question text 3 An audit establishes the conformity of assertions with specified criteria. In an audit of a financial report, the criteria by which financial report assertions are judged are: Select one: a. the ethical rules of conduct b. applicable accounting standards c. listing rules of the Australian Securities and Investments Commission d. Australian Auditing Standards Question 14 Complete Question text 3 An audit to determine whether the auditee is following specific procedures or rules set down by some higher authority is classified as: Select one: a. an audit of financial statements b. a production audit. c. a compliance audit. d. an operational audit Question 15 Complete Question text 3 Having an audit partner responsible for each audit is: Select one: a. dependent on the need of the auditing company b. a requirement set up by Corporations Act 2001 c. a requirement under the Australian Auditing Standards d. NOT a statutory requirement 2XpxBqjCJm