TEST BANK FOR
AUDITING: A PRACTICAL
APPROACH WITH DATA
ANALYTICS, RAYMOND N.
JOHNSON, LAURA DAVIS
WILEY, ROBYN
MORONEY, FIONA
CAMPBELL, JANE
HAMILTON
, Table of Contents
Chapter 1: Introduction and Overview of Audit and Assurance
Chapter 2: Professionalism and Professional Responsibilities
Chapter 3: Risk Assessment Part I: Audit Risk and Audit Strategy
Chapter 4: Risk Assessment Part II: Understanding the Client
Chapter 5: Audit Evidence
Chapter 6: Gaining an Understanding of the Client's System of Internal
Control
Chapter 7: Audit Data Analytics
Chapter 8: Risk Response: Performing Tests of Controls
Chapter 9: Risk Response: Performing Substantive Procedures
Chapter 10: Risk Response: Evaluating Audit Data Analytics and Audit
Sampling
Chapter 11: Auditing the Revenue Process
Chapter 12: Auditing the Purchasing and Payroll Processes
Chapter 13: Auditing Various Balance Sheet Accounts (and Related
Income Statement Accounts)
Chapter 14: Completing the Audit
Chapter 15: Reporting on the Audit
,This Is A Test Bank Of Test (Study
Questions) To Help You Prepare
For the Tests
To Clarify, This Is A Test Bank, Not
A Textbook You Have Immediate
Access To Download Your Test
Bank.
No Delays In Loading Is Fast And
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Receive A Full Bank Of Tests, In
Other Words, All Chapters Will Be
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1
, Chapter 1
Introduction and Overview of Audit
and Assurance
Question Type: True or False
1. GAAP and IFRS are examples of applicable financial reporting framework.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Reporting, AACSB:
Communication, Learning Objective: LO1.1, Solution: The applicable financial reporting
framework refers to the set of standards used in preparing the historical financial statements,
such as GAAP, IFRS or a Federal Income Tax Basis of Accounting.
2. Review of financial forecasts falls under attestation services.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Measurement Analysis and
Interpretation, AACSB: Ethics, Learning Objective: LO1.1, Solution: Attestation services (under
the umbrella of assurance services) include review of historical financial statements, review of
financial forecasts, and examination of internal control.
3. Within a U.S. context, the applicable financial reporting framework is typically Generally
Accepted Accounting Principles (GAAP).
2
AUDITING: A PRACTICAL
APPROACH WITH DATA
ANALYTICS, RAYMOND N.
JOHNSON, LAURA DAVIS
WILEY, ROBYN
MORONEY, FIONA
CAMPBELL, JANE
HAMILTON
, Table of Contents
Chapter 1: Introduction and Overview of Audit and Assurance
Chapter 2: Professionalism and Professional Responsibilities
Chapter 3: Risk Assessment Part I: Audit Risk and Audit Strategy
Chapter 4: Risk Assessment Part II: Understanding the Client
Chapter 5: Audit Evidence
Chapter 6: Gaining an Understanding of the Client's System of Internal
Control
Chapter 7: Audit Data Analytics
Chapter 8: Risk Response: Performing Tests of Controls
Chapter 9: Risk Response: Performing Substantive Procedures
Chapter 10: Risk Response: Evaluating Audit Data Analytics and Audit
Sampling
Chapter 11: Auditing the Revenue Process
Chapter 12: Auditing the Purchasing and Payroll Processes
Chapter 13: Auditing Various Balance Sheet Accounts (and Related
Income Statement Accounts)
Chapter 14: Completing the Audit
Chapter 15: Reporting on the Audit
,This Is A Test Bank Of Test (Study
Questions) To Help You Prepare
For the Tests
To Clarify, This Is A Test Bank, Not
A Textbook You Have Immediate
Access To Download Your Test
Bank.
No Delays In Loading Is Fast And
Instant Immediately After
Purchase! You Will
Receive A Full Bank Of Tests, In
Other Words, All Chapters Will Be
There.
Test Banks Are Presented In PDF
Format Therefore, No Special
Software
Is Required To Download Them
1
, Chapter 1
Introduction and Overview of Audit
and Assurance
Question Type: True or False
1. GAAP and IFRS are examples of applicable financial reporting framework.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Reporting, AACSB:
Communication, Learning Objective: LO1.1, Solution: The applicable financial reporting
framework refers to the set of standards used in preparing the historical financial statements,
such as GAAP, IFRS or a Federal Income Tax Basis of Accounting.
2. Review of financial forecasts falls under attestation services.
A. True
B. False
Answer: A, Taxonomy: Knowledge, Difficulty: Easy, AICPA FC: Measurement Analysis and
Interpretation, AACSB: Ethics, Learning Objective: LO1.1, Solution: Attestation services (under
the umbrella of assurance services) include review of historical financial statements, review of
financial forecasts, and examination of internal control.
3. Within a U.S. context, the applicable financial reporting framework is typically Generally
Accepted Accounting Principles (GAAP).
2
