le Evidence in form of Error reports, .1 payroll records, and payroll processing costs comes under *.compliance audit True False To do an audit, there must be 2 information in a verifiable form and some standards or criteria by which the auditor can evaluate the * information True False Financial Statement Audit deals.3 with evaluating the operational efficiency and effectiveness of the whole or part of an organization's * systems True K False The Procedures that may.15 disclose related parties include all *the following except A) Inquiry with major suppliers or other stakeholder B) Review of other related records available publicly C) Inquire of management through interviews or questionnaires D) Use professional intuition to assess the situation 16. Auditing standards state that , in exercising ........., an auditor "neither assumes that management is dishonest nor assumes unquestioned honesty." Complete *ithe statement A) Professional standards B) Professional intuition rofessional ethics D) Professional skepticism Examples of situations where .13 specialists may be required in can *include the following except when A) Interpreting a commercial bank's balance sheet B) Measuring all reserves for oil firms C) Identifying value of High-Tec equipment under construction D) Measuring scientific or biological assets 14. identifying related parties to the client is crucial in auditing and in fact, related parties involve the * :following except A) Principal owners of the client B) A party with an independent opinion during an audit C) Affiliated companies D) A party who can influence management or client policies Which of the following is NOT 11 part of the steps in the Audit * Planning Process A) Obtain Background information B) Preplan C) Obtain information about the Industry D) Perform preliminary analytical procedures The two major factors affecting.12 * ;acceptable risk are A) Honesty and trust on the side of the client B) Evidence available and the depth of that evidence D) The standards of auditing and the legal rules involved D) Likely statement users and intended uses of the statements An Auditor practices .6 confidentiality when he or she does not disclose any client information in the courts of justice True False Client testimony can be used by.4 an auditor as evidence to determine whether the information being audited is stated in accordance with *.the established criteria True False che Auditing is one of the Attestation.5 .services True False al An Auditor practices.6 confidentiality when he or she does not disclose any client information in the courts of justice True False