CPA – Auditing and Attestation (AUD) Exam 3

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Certified Public Accountant (CPA) - Auditing and Attestation (AUD) Exam 1

Certified Public Accountant (CPA)

Certified Public Accountant (CPA) - Auditing and Attestation (AUD) Exam 3

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1 / 40

When testing the completeness assertion for accounts payable, an auditor is most likely to:

2 / 40

Which of the following is an auditor’s primary concern when testing controls over cash disbursements?

3 / 40

Which of the following is most likely to indicate a risk of material misstatement related to the completeness of financial statement disclosures?

4 / 40

Which of the following is least likely to be an appropriate audit procedure for assessing the accuracy of inventory records?

5 / 40

Which of the following is a primary concern when an auditor is testing the completeness assertion for liabilities?

6 / 40

When evaluating internal controls over financial reporting, an auditor is most concerned with:

7 / 40

What is the primary purpose of an audit engagement letter?

8 / 40

Which of the following is an auditor’s primary concern when assessing the reasonableness of accounting estimates?

9 / 40

Which of the following internal control components is the foundation for all other components?

10 / 40

Which of the following is a primary reason for performing a risk assessment during an audit?

11 / 40

An auditor’s primary concern when testing the cutoff assertion for revenues is to ensure:

12 / 40

An auditor’s primary concern when performing a test of controls over payroll is to ensure:

13 / 40

Which of the following would an auditor most likely consider when planning an audit?

14 / 40

When an auditor identifies a significant deficiency in internal control, they should:

15 / 40

Which of the following is an auditor’s primary consideration when evaluating audit evidence?

16 / 40

What is the primary objective of performing a substantive test of transactions?

17 / 40

An auditor should obtain an understanding of the client’s internal control systems primarily to:

18 / 40

When evaluating the results of analytical procedures, an auditor should consider:

19 / 40

In an audit, which of the following is the primary purpose of performing a walk-through of a transaction?

20 / 40

Which of the following is an effective audit procedure for verifying the existence of intangible assets?

21 / 40

Which of the following is an auditor most likely to use to evaluate the accuracy of the recorded amounts of inventory?

22 / 40

Which of the following procedures is an auditor most likely to perform to test the valuation assertion for investments?

23 / 40

An auditor discovers that a client’s financial statements are materially misstated due to a fraud committed by management. The auditor should:

24 / 40

Which of the following is most likely to be considered a significant deficiency in internal control?

25 / 40

Which of the following is the best indicator of a potential material misstatement due to fraud?

26 / 40

Which of the following audit procedures is used to gather evidence about the accuracy of recorded transactions?

27 / 40

An auditor most likely would apply analytical procedures in the overall review stage of an audit to:

28 / 40

Which of the following procedures would an auditor most likely use to test the occurrence assertion for cash receipts?

29 / 40

An auditor’s evaluation of the adequacy of a client’s disclosure about a contingent liability involves:

30 / 40

Which of the following procedures would an auditor most likely use to test the valuation and allocation assertion for inventory?

31 / 40

When an auditor discovers that an account balance is misstated due to an error, they should:

32 / 40

Which of the following is the most appropriate procedure for an auditor to follow when assessing the reliability of internal control systems?

33 / 40

An auditor most likely would use substantive procedures to test which of the following assertions?

34 / 40

Which of the following is an example of an audit procedure designed to test the occurrence assertion for expenses?

35 / 40

Which of the following is a primary purpose of obtaining a management representation letter?

36 / 40

Which of the following is a potential indicator of fraud?

37 / 40

Which of the following is most likely to be an indicator of fraud risk?

38 / 40

Which of the following is most likely to be a key control for ensuring the accuracy of accounts receivable?

39 / 40

Which of the following factors is least likely to influence an auditor’s decision to assess control risk as high?

40 / 40

Which of the following procedures would an auditor most likely perform to evaluate the accuracy of recorded revenue transactions?

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See also:

Institute of Chartered Accountants of Nigeria (ICAN) Exam 2

Institute of Chartered Accountants of Nigeria (ICAN) Exam 1

Certified Management Accountant (CMA) Exam 2

Chartered Financial Analyst (CFA) Exam 4

Chartered Financial Analyst (CFA) Exam 3

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