1.

The element of the audit planning process= schedules and analyses to be prepared by the client
2. It is the interest of both client and auditor= the commencement of the engagement
3. Tolerable misstatements as set by the auditor= decreases acceptable audit risk
4. Which of the following is most likely to be a characteristics = management tendency to override
internal controls
5. The principal reasons for developing= audit work is properly planned
6. Which of the following statement about auditor= documentation must include flowcharts
7. The preliminary judgement about materiality= inversely
8. The primary purpose of the engagement letters= provide a written
9. Engagement letters are required for= all engagement
10. Since materiality is relative= net income before taxes
11. As planning materiality =find smaller misstatement
12. Which of the following best represent= the auditor traces three purchasing
13. When a CPA is the auditor= number of reports to be prepared
14. Audit documents that record=designed in an orderly fashion
15. In developing the overall = the specific procedure
16. Significant risks are assessed= required
17. In the assessment of control risk= errors and fraud have been
18. To obtain an understanding = management may establish
19. Which of the following factors= management disregard of its responsibility
20. Which of the following types= bank statements obtained
21. Which of the following is not considered= the content of the management
22. Collectively= risk assessment procedures
23. Which of the following pairs of account=notes receivable and interest income
24. The following are the inherent= incompatible duties
25. Which of the following is an incorrect= detection risk cannot be changed
26. An understanding the clients business= at the clients premise
27. The auditors internal control = accuracy
28. In an audit of financial statements= affects financial statements assertion
29. Which statement is correct regarding concerning= controls over the reliability of financial
reporting are ordinarily
30. Determining that receivables are presented= valuation
31. Which of the following components= control environment
32. Nature of an entity refers to= the entitys operation, its ownership and governance
33. Which of the following professionals= the partner in charge of the engagement
34. Relevance can be considered= specific audit objectives
35. A basic premise= plausible relationships among the data
36. Audit program is basically= documentation\ of system being reviewed
37. Audit evidence concerning= direct personal observation
38. In considering materiality for planning purposes= 100,000
39. Which of the following is not a reason= all are reasons
40. The auditors review of the clients= compliance with the GASS
41. A clients internal control appears= maximum
42. Proper segregation= record and conceal fraudulent=
43. Which of the following best describe the relationship between= IR, CR and DR vary from
assertion to assertion
44. The date on which no information= documentation completion date
45. Assuming a recurring= a recent change in partner and/or staff involved
46. Which of the following is incorrect= a material weakness is less significant that a control
deficiency
47. The objective of performing= unusual transactions and events that represents
48. Internal control is a process effected by the organization’s= continuing existence
49. Which of the following would an auditor most likely= the entity’s financial statement of the prior
year
50. With respect to errors and fraud the auditor should plan= discover errors or fraud that would
have a material effect on the FS. Internal