omt inancial statements that atantaly all disclosures requred by GAAP, the accountant should indicane in the oompliaton report nght infuence usens" conolusiens about the business, t the disclosures were included repered in conformity with a comprehensive basis of accounting other than GAAP C ane net compled in accordance with hancial statements that are not comparable to those of prior periods . Planing the audit does not move wich ofthe folowing? a) development of an audit program a planning meeting 9) The procedures used in a review engagement are: A physical C. analysical procedures, inquiry, and obtaining a and obtaining a management representation lethler D. physical examination o. When a company uses a service orparieation to prepare its payroil, the company's auditons A have no obligation concerning the insemal controls at the service organization B. need to understand the internal controils over the transaction regardless of the location of the C. must audit the intemal controls at the service organization. should include the audt report of the service company's auditors with their auditors report 11) The purpose of the internal audit's evaluation of the effectiveness of existing risik management processes is to determine that A) Management has planned and designed the process to provide reasonable assurance of achieving objectives d goals 8) Manapement directs processes to provide reasonable assurance of achieving objectives and goals ) The organization's objectives and goals will be achieved efficlently and Dj The organization's objectives and goals will be achieved in an aocurabe and tmely manner and with minimal use of resoures. 12) Senior management has ordered a compliance audit of the organization's emplayee benefts package. Which of the following do both the chief audit executive and senlor management consider a primary engagement objective? A. The level of the organizational conributions is adequate to meet the program's demands B. Individual programs are operating in accordance with contractual requirements and govemment C. Partcipation levels support continuation af individual programs D. Benefits payments, when appropriate, are accurate and timely 13) It an auditor of a public company cannot find guidance issued by the PCAOB matter, the auditor should generally seek guidance from which of the following sources? on a particular audit a) Statements on auditing standards b) Statements on standards for accounting and review services c) Regulations issued by the Securities and Exchange Commission d) The AICPA Code of Professional Conduct
