Ünite Sınavı Soruları

The independent auditor should collect sufficient and appropriate ___________ by performing audit procedures.

Which of the following is not one of the general transaction-related audit objectives?

 “They are the audit procedures testing for monetary misstatements to determine whether the six transaction related audit objectives have been satisfied for each class of transactions”.

Which term is described by the above sentence?

“Transactions and events have been recorded in the proper accounts”.

Which management assertion is described by the above sentence?

To obtain sufficient appropriate evidence to support a reduced assessment of control risk, the auditor (Arens, 2017b) does the following except ______________________________.

Which of the following is correct about the phases of financial statement audit?

Which of the following audit procedures are carried out to measure the effectiveness of the design and operation of the internal control policies and procedures that should be available in the client business?

Which of the following is not one of the steps to develop audit objectives?

Which management assertion and audit objectives matches are related to whether recorded sales are for shipments made to non fictitious customers?

If an auditor wants to test monetary misstatements in the balances in the financial statements, which of the following analytical procedures will be used?

_________________________ are the claims made by the management of the company on financial statements.

“In this phase, an audit approach is designed to collect sufficient and reliable evidence at the lowest cost. In order to estimate the risks of misstatement in the financial statements and to interpret the information obtained during the audit, information is obtained about the client’s business and its line of business. In addition, the internal control system of the business is examined and information about the internal control system is collected. At the same time, control risks are assessed”.

Which phase of a financial statement audit is described by the above sentences?

Which of the following is not one of audit tests to determine whether the financial statements are prepared fairly or not?

1. Know specific audit objectives for classes of transactions, accounts, and disclosures
2. Divide financial statements into cycles
3. Understand objectives and responsibilities for the audit
4. Know management assertions about financial statements
5. Know general audit objectives for classes of transactions, accounts, and disclosures

Which of the above is the first step to develop audit objectives?

Which of the followings is NOT one of the management assertions related to account balances and related disclosures, at the period end?

Which of the following general balance-related audit objectives is about the agreement of inventory totals with the general ledger?

Which of the followings are performed to determine the type and amount of further audit procedures necessary to form an opinion on the fairness of the financial statements?

Which of the following management assertions is tested only for income statement transactions?

 I. They show the ways and methods to be followed to obtain audit evidence during the audit task.

II. They can be applied at different stages of the audit together or alone.

III. They consist of risk assessment procedures, tests of controls, substantive tests of transactions, substantive analytical procedures, and tests of details of balances.

Which term is described by the above sentences?

1. Develop appropriate tests of controls for all internal controls that are used to reduce the preliminary assessment of control risk below maximum.
2. Apply the transaction-related audit objectives to the class of transactions being tested, such as sales.
3. For potential types of misstatements related to each transaction-related audit objective, design appropriate substantive tests of transactions.
4. Identify key controls that should reduce control risk for each transaction-related audit objective.

In which of the following is the four-step approach to reduce assessed control risk given in correct order?