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QUESTION 1 b. Attestation c. Audit Indicate the letter of the term that best agrees with the statement. Each term is used only once and each statement requires only one letter. Professional services where an auditor testifies as an expert witness Assurance services in accounting, auditing, or tax matters. A list of audit procedures for testing accounts receivable. The auditor examines the effectiveness of organizations, programs, d. Performance Audit activities, or functions of an entity. e Compliance Audit An auditor asks management a question, receives an answer, and 1. Audit Program proceeds to corroborate the answer. The auditor is demonstrating & Audit Procedures The amount that if exceeded, makes a difference to the user h. Audit Standard The state Department of Education wants to know if hiring Existence or occurrence practices in various school districts meet state law guidelines. Completeness The suditor physically examines all major property and Valuation of Allocation additions as an audit procedure to ensure that all additions were actually acquired L Rights and Obligations The particular and specialized actions that auditors undertake to m. Presentation and Disclosure obtain evidence in a specific audit engagement are known Professional Skepticism 0 Independence - The auditor examines the overall faimess of the presentation of financial position, results of operations, and cash flows in P. Materiality accordance with GAAP 9. Audt Risk - The auditor reviews the aged trial balance for significant past due Control Risk accounts as an audit procedure to ensure the allowance for doubtful accounts is properly recorded. Inherent Risk r o alla Chek Sow All A The examined shipping documentation noting the transactions were recorded in the proper period. 4 An auditor has no personal relationships with management personnel at his audit client. * The auditor examines loan documentation to verify the client opened new loans with the bank for the year under audit as an audit procedure to ensure the loans are the client loans. 4 Auditing guidance that ensures audit consistency from audit to audit. - The client instituted an internal control function, which improves this audit risk assessment. Click Save and Submit to save and submit. Click Save All Answers to save all answers