nts, governme other high authority A. Operational Audit B Compliance Audit C Information Audit D. Financial Statement Audit E External Audit 16.The independence of a CPA could be impaired by: A Having no knowledge of the company or the company management B. By owning stock of a similar company C. Being married to a client's competitor D. Having the ability to influence the client's decisions E. Need more information to be determined 17.The standards that provide broad guidelines for a referred to as n auditor's professional responsibilities are A. Generally accepted accounting standards B. General accounting and auditing practices C. Generally accepted auditing practices D. Generally accepted auditing and accounting standards E. None of the above 18. Whic h management assertion determines that transactions and related asset accounts balances are actually owned and that liability account balances represent actual obligations? A. Rights and Obligations B. Valuation and Allocation C. Existence and Ownership D. Classification and Presentation E. Ownership and Obligations 19. The main difference between substantive testing and controls testing is A. Substantive testing determines whether the information is managed under a system that promotes correctness, whereas Control testing verifies whether information is correct. B. Substantive testing verifies whether information is correct, whereas control tests determine C. Substantive testing goes further in depth into the internal controls of a company, whereas D. Substantive testing identifies which controls need further review, whereas controls testing There is no difference in the tests as part of the requirement of the audit procedures. whether the information is managed under a system that promotes correctness controls testing just identifies which controls need further review. goes further in depth into the internal controls of a company. E