Please answer the following Accounting Fraud questions...

QUESTION 1 1. The first general standard of the PCAOB requires that an audit be performed by which type of person? An auditor with seasoned judgment in varying degrees of supervision and review. An auditor with appropriate technical training and proficiency. An auditor with adequate knowledge of the standards of field work and reporting. An auditor satisfying the independence standards. QUESTION 2 1. Which auditing standards apply to private companies? The AICPA Standards. The IASSB Standards. The Standards of the PCAOB. All of these QUESTION 3 1. Which one of the following has the most affect on the reliability of financial statements? The size of the client The industry of the client The client's internal control structure. The client's trend of earnings. QUESTION 4 1. Which of the following terms describes procedures designed to detect material misstatements in accounts? Substantive procedures. Control Tests Risk assessment procedures Business risk procedures. QUESTION 5 1. Which of the following is a reason why an auditor needs an understanding of internal controls? To provide individual comments on internal control non-compliance. To become comfortable that the client will pay its audit bills. To assess materiality To assess the risk of possible misstatements in the financial statements. QUESTION 6 1. What does business risk include? Economic factors. Competitive factors. Regulatory risk. All of these QUESTION 7 1. What does the effectiveness of internal controls influence? Inherent risk. Control risk. Risk of material misstatement. Both B and C. QUESTION 8 1. Which of the following would not affect an auditor's judgment concerning internal controls? The assertion being tested. The design of the control. The operation of the control. The level of inherent risk. QUESTION 9 1. An auditor gathers evidence on internal controls for which respective time periods for the purposes of expressing an opinion on control effectiveness and for testing controls in the financial statement period? Control Effectiveness Financial Statement As of year end As of year end As of year end Throughout the year Throughout the year As of year end Throughout the year Throughout the year QUESTION 10 1. Which of the following would not be a factor in whether a control weakness would be considered to be a material weakness as opposed to a significant deficiency? The materiality of the related balance. The volume of transactions affected. The subjectivity of the account balance. The nature of the client's industry. QUESTION 11 1. Which one of the following statements is false? Auditing includes the process of gathering evidence to test assertions. No general audit program suits the needs for all situations. Even though all audits are different, they can all be approached in the same manner. All audits involve testing management's assertions contained in written communications to another party and independently gathering evidence to test the relevant assertions. QUESTION 12 1. Appropriateness of evidence is a measure of which of the following? Quantity of evidence. Quality of evidence. Sufficiency of evidence. Meaning of evidence. QUESTION 13 1. Two determinants of the persuasiveness of evidence include which of the following? Competence and Sufficiency. Relevance and Reliability. Appropriateness and Sufficiency. Independence and Effectiveness. QUESTION 14 1. Which of the following is an example of inspection of documentation? Review shipping documents. Estimate the expected amount of interest income. Observe controls. Recalculate the total amount include on a sales invoice. QUESTION 15 1. The process of vouching helps establish which of the following regarding recorded transactions? Transactions have been recorded. Transactions are complete. Transactions are valid. Transactions are presented properly. QUESTION 16 1. Footing, cross-footing, and tests of extensions are examples of which approach to gathering evidence? Reprocessing. Recalculation. Vouching. Examination of documentation. QUESTION 17 1. Reprocessing of transactions helps establish that all valid items have been recorded. Reprocessing tests which of the following assertions? Occurrence. Rights. Existence. Completeness . QUESTION 18 1. External documentation may lack reliability. Which of the following is the most probable reason for that? The external party may be competent in performing duties. The documentation may be properly understood by the client in the response. The auditor may decide not to use the documentation and replace it with other documents. The documentation may have been altered if the process is not controlled from inception. QUESTION 19 1. When may audit procedures be performed? I - on the balance sheet date. II - prior to the balance sheet date. III - subsequent to the balance sheet date. I only. I and III only. II only. I, II, and III. QUESTION 20 1. An auditor selects a sample of items recorded and traces them back to the supporting documentation. This is an example of which of the following? Directional testing for existence. Directional testing for completeness. Direct testing for valuation. Direct testing for rights