Part-a

1) Public accounting firms are obligated to accept all prospective audit clients in order to ensure that all prospective clients needs are met and that all businesses are able to obtain audited financial statements.

true or false

2) The auditor attempts to understand the auditee's business and risks in order to establish a(n)

Multiple Choice

• a) audit program.

• b) audit plan.

• c) substantive plan.

• d) overall audit strategy.

3) The attention directing objective of analytical procedures refers to their use

Multiple Choice

• a) in enhancing the auditor's understanding of the client's basis.

• b) in a final review of the overall reasonableness of the audited financial statements.

• c) in identifying unusual relationships and unexpected fluctuations in data that may indicate areas of general risk of misstatement.

• d) in an initial review of the overall reasonableness of the audited financial statements.

5) The overall audit strategy includes audit programs for specific audit objectives to determine inherent and ______ risk.

Multiple Choice

• a) audit

• b) strategic

• c) control

• d) business

this is one part question, pls answer for all the questions