Which of the following would you not find on an engagement letter?

• A.

  The financial reporting framework used by the client

• B.

  The fee charges for an unmodified opinion and how those fees change for modifications to the audit report.

• C.

  The audit standards to be used by the auditor

• D.

  A description of an auditor's responsibility

Which of the following is not true about analytical procedures:

• A.

  Generally accepted audit standards require analytical procedures in the planning stage of an audit.

• B.

  Generally accepted audit standards require analytical procedures in the evidence collection stage of an audit.

• C.

  Generally accepted audit standards require analytical procedures in the final review stage of an audit.

• D.

  Analytical procedures are a stronger form of evidence compared to reperformance.

Risks relevant to financial reporting can arise due to which of the following circumstances?

• A. Corrective actions implemented by management.
• B. Board of directors' commitment to competence.
• C. Performance reviews of employees.
• D. Rapid growth in the entity's operations.