Need help with 10 multiple choice questions for graduate level auditing class

1. Which of the following should you consider when deciding whether to use the client's internal auditors? A. to whom they report B. education C. certification (cpa, cia, or cma) D. all of the above 2. Which of the following is the use of analytical procedures not required? A. when planning the audit B. as a substantive test C. at the end of the audit as a type of reasonableness test D. none of the above 3. Engagement risk can be eliminated by A. Establishing policies for client acceptance and continuance B. Lowering audit risk C. Lowering materiality D. Engagement risk cannot be eliminated 4. The auditor must be independent of the audit client unless: A. The lack of independence does not influence his or her professional judgment. B. Both parties agree that the independence issue is not a problem. C. The lack of independence is insignificant. D. None of the abovethe auditor cannot lack independence. 5. Which of the following would possibly prevent you from accepting an audit engagement? A. the questionable integrity of management B. weaknesses in AR internal control C. the presence of related party transactions D. None of the above 6. The accuracy of information included in footnotes accompanying the audited financial statements issued by a company whose shares are traded on a stock exchange is the primary responsibility of A. The stock exchange officials B. The independent auditor C. The company's management D. The Securities and Exchange Commission 7. Which of the following is a procedure you would perform while planning an engagement? A. tests of control B. set materiality level for accounts receivable C. research the integrity of management D. none of the above 8. Which of the following would you not include in an engagement letter? A. fees B. responsibilities of management and the auditors C. a description and timing of the audit procedures D. all of the above would be included 9. Which of the following would indicate a possible related party transaction? A. the corporation sells land in exchange for a zero interest note receivable. B. selling products to an individual at a volume discount C. issuing stock in exchange for legal services D. none of the above would alert you to a related party transaction 10. To whom should internal auditors report to (the best answer)? A. the board of directors B. the president of the company C. the controller D. the independent auditors