The Audit Process - Documentation - CPA Auditing and Attestation (AUD)
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Auditors document the terms of engagement in:
Auditors document the terms of engagement in:
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An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
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A properly developed engagement letter should include:
A properly developed engagement letter should include:
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A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
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Preplanning audit documentation includes
Preplanning audit documentation includes
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A preplanning audit document will discuss the overall audit strategy. Planning an audit will include an internal control assessment, but not in the preplanning stage. Confirmation letters and substantive testing are part of the audit process.
A preplanning audit document will discuss the overall audit strategy. Planning an audit will include an internal control assessment, but not in the preplanning stage. Confirmation letters and substantive testing are part of the audit process.
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An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?
An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?
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Audit documentation, or working papers, comprises the principal record of audit procedures performed, evidence obtained, and conclusions reached. Reviewing the working papers allows a supervisor to understand the work performed and the evidence obtained, and to evaluate whether the audit was adequately performed.
Audit documentation, or working papers, comprises the principal record of audit procedures performed, evidence obtained, and conclusions reached. Reviewing the working papers allows a supervisor to understand the work performed and the evidence obtained, and to evaluate whether the audit was adequately performed.
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At the completion of an audit, which of the following entities has ownership of the audit working papers?
At the completion of an audit, which of the following entities has ownership of the audit working papers?
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The CPA firm that performed the audit has ownership of the audit working papers. These work papers provide support for the audit opinion and contain information detailing the audit work performed.
The CPA firm that performed the audit has ownership of the audit working papers. These work papers provide support for the audit opinion and contain information detailing the audit work performed.
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A is specifically someone who performs work on an engagement of a component's financial information that will be used as audit evidence of a group audit.
A is specifically someone who performs work on an engagement of a component's financial information that will be used as audit evidence of a group audit.
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A component auditor rightfully conducts audit procedures of a component of a larger group audit.
A component auditor rightfully conducts audit procedures of a component of a larger group audit.
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Auditors document the terms of engagement in:
Auditors document the terms of engagement in:
Tap to reveal answer
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
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A properly developed engagement letter should include:
A properly developed engagement letter should include:
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A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
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Preplanning audit documentation includes
Preplanning audit documentation includes
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A preplanning audit document will discuss the overall audit strategy. Planning an audit will include an internal control assessment, but not in the preplanning stage. Confirmation letters and substantive testing are part of the audit process.
A preplanning audit document will discuss the overall audit strategy. Planning an audit will include an internal control assessment, but not in the preplanning stage. Confirmation letters and substantive testing are part of the audit process.
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An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?
An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?
Tap to reveal answer
Audit documentation, or working papers, comprises the principal record of audit procedures performed, evidence obtained, and conclusions reached. Reviewing the working papers allows a supervisor to understand the work performed and the evidence obtained, and to evaluate whether the audit was adequately performed.
Audit documentation, or working papers, comprises the principal record of audit procedures performed, evidence obtained, and conclusions reached. Reviewing the working papers allows a supervisor to understand the work performed and the evidence obtained, and to evaluate whether the audit was adequately performed.
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At the completion of an audit, which of the following entities has ownership of the audit working papers?
At the completion of an audit, which of the following entities has ownership of the audit working papers?
Tap to reveal answer
The CPA firm that performed the audit has ownership of the audit working papers. These work papers provide support for the audit opinion and contain information detailing the audit work performed.
The CPA firm that performed the audit has ownership of the audit working papers. These work papers provide support for the audit opinion and contain information detailing the audit work performed.
← Didn't Know|Knew It →
A is specifically someone who performs work on an engagement of a component's financial information that will be used as audit evidence of a group audit.
A is specifically someone who performs work on an engagement of a component's financial information that will be used as audit evidence of a group audit.
Tap to reveal answer
A component auditor rightfully conducts audit procedures of a component of a larger group audit.
A component auditor rightfully conducts audit procedures of a component of a larger group audit.
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Auditors document the terms of engagement in:
Auditors document the terms of engagement in:
Tap to reveal answer
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
← Didn't Know|Knew It →
A properly developed engagement letter should include:
A properly developed engagement letter should include:
Tap to reveal answer
A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
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Preplanning audit documentation includes
Preplanning audit documentation includes
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A preplanning audit document will discuss the overall audit strategy. Planning an audit will include an internal control assessment, but not in the preplanning stage. Confirmation letters and substantive testing are part of the audit process.
A preplanning audit document will discuss the overall audit strategy. Planning an audit will include an internal control assessment, but not in the preplanning stage. Confirmation letters and substantive testing are part of the audit process.
← Didn't Know|Knew It →
An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?
An audit supervisor reviewed the work performed by the staff to determine if the audit was adequately performed. The supervisor accomplished this by primarily reviewing which of the following?
Tap to reveal answer
Audit documentation, or working papers, comprises the principal record of audit procedures performed, evidence obtained, and conclusions reached. Reviewing the working papers allows a supervisor to understand the work performed and the evidence obtained, and to evaluate whether the audit was adequately performed.
Audit documentation, or working papers, comprises the principal record of audit procedures performed, evidence obtained, and conclusions reached. Reviewing the working papers allows a supervisor to understand the work performed and the evidence obtained, and to evaluate whether the audit was adequately performed.
← Didn't Know|Knew It →
At the completion of an audit, which of the following entities has ownership of the audit working papers?
At the completion of an audit, which of the following entities has ownership of the audit working papers?
Tap to reveal answer
The CPA firm that performed the audit has ownership of the audit working papers. These work papers provide support for the audit opinion and contain information detailing the audit work performed.
The CPA firm that performed the audit has ownership of the audit working papers. These work papers provide support for the audit opinion and contain information detailing the audit work performed.
← Didn't Know|Knew It →
A is specifically someone who performs work on an engagement of a component's financial information that will be used as audit evidence of a group audit.
A is specifically someone who performs work on an engagement of a component's financial information that will be used as audit evidence of a group audit.
Tap to reveal answer
A component auditor rightfully conducts audit procedures of a component of a larger group audit.
A component auditor rightfully conducts audit procedures of a component of a larger group audit.
← Didn't Know|Knew It →
Auditors document the terms of engagement in:
Auditors document the terms of engagement in:
Tap to reveal answer
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
An engagement letter outlines the terms of the engagement including management's expected responsibilities and the responsibilities of the auditor.
← Didn't Know|Knew It →
A properly developed engagement letter should include:
A properly developed engagement letter should include:
Tap to reveal answer
A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
A properly constructed engagement letter should discuss the responsibilities of the auditors, management as well as the risks and limitations of the audit engagement.
← Didn't Know|Knew It →