Auditing A Risk-Based Approach 12th Edition Zehms Test Bank
Test Bank for Auditing A Risk-Based Approach 12th Edition By Karla M. Zehms, Audrey A. Gramling, Larry E. Rittenberg, ISBN-10: 035772187x, ISBN-13: 9780357721872
Table of Contents
1. Quality Auditing: Why It Matters.
2. The Auditor’s Responsibilities Regarding Fraud and Mechanisms to Address Fraud: Regulation and Corporate Governance.
3. Internal Control Over Financial Reporting: Responsibilities of Management and the External Auditor.
4. Professional Legal Liability.
5. Professional Auditing Standards and the Audit Opinion Formulation Process.
6. Audit Evidence.
7. Planning the Audit: Identifying and Responding to the Risks of Material Misstatement.
8. Specialized Audit Tools: Sampling and Generalized Audit Software.
9. Auditing the Revenue Cycle.
10. Auditing Cash and Marketable Securities.
11. Auditing Inventory, Goods and Services, and Accounts Payable: The Acquisition and Payment Cycle.
12. Auditing Long-Lived Assets: Acquisition, Use, Impairment, and Disposal.
13. Auditing Long-Term Liabilities and Stockholders’ Equity Transactions.
14. Completing a Quality Audit.
15. Audit Reports.
1. The need for independent assurance arises because the interests of the users of information may be different from the interests of those responsible for providing information.
a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 – Define financial statement auditing in relation to decision makers’ demands for reliable financial and internal control information
NATIONAL STANDARDS: United States – BUSPROG: Comprehension
STATE STANDARDS: United States – AK – AICPA BB-Critical thinking
DATE CREATED: 5/26/2023 4:48 AM
DATE MODIFIED: 5/26/2023 4:49 AM
2. A financial statement audit is a systematic process of objectively obtaining and evaluating evidence.
a. True
b. False
ANSWER: True
POINTS: 1
QUESTION TYPE: True / False
HAS VARIABLES: False
LEARNING OBJECTIVES: AUD.ZEHMS.24.01.01 – Define financial statement auditing in relation to decision makers’ demands for reliable financial and internal control information
NATIONAL STANDARDS: United States – BUSPROG: Comprehension
STATE STANDARDS: United States – AK – AICPA BB-Critical thinking
DATE CREATED: 5/26/2023 4:59 AM
DATE MODIFIED: 5/26/2023 5:00 AM
