TEST BANK
Auditing & Assurance Services: A Systematic Approach: A Systematic Approach
William Messier Jr
10th Edition
JN
U
R
SE
,Table of Contents
Part 1: Introduction to Assurance and Financial Statement Auditing
1. An Introduction to Assurance and Financial Statement Auditing
2. The Financial Statement Auditing Environment
Part 2: Audit Planning and Basic Auditing Concepts
3. Audit Planning, Types of Audit Tests, and Materiality
4. Risk Assessment
5. Evidence and Documentation
JN
Part 3: Understanding and Auditing Internal Control
6. Internal Control in a Financial Statement Audit
U
7. Auditing Internal Control over Financial Reporting
R
Part 4: Statistical and Nonstatistical Sampling Tools for Auditing
8. Audit Sampling: An Overview and Application to Tests of Controls
SE
9. Audit Sampling: An Application to Substantive Tests of Account Balances
Part 5: Auditing Business Processes
10. Auditing the Revenue Process
11. Auditing the Purchasing Process
12. Auditing the Human Resource Management Process
13. Auditing the Inventory Management Process
14. Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets, and
Property, Plant, and Equipment
15. Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders’
, Equity, and Income Statement Accounts
16. Auditing the Financing/Investing Process: Cash and Investments
Part 6: Completing the Audit and Reporting Responsibilities
17. Completing the Audit Engagement
18. Reports on Audited Financial Statements
Part 7: Professional Responsibilities
19. Professional Conduct, Independence, and Quality Management
20. Legal Liability
JN
Part 8: Assurance, Attestation, and Internal Auditing Services
21. Assurance, Attestation, and Internal Auditing Services
U
Advanced Module:
R
• Professional Judgment Framework – Understanding and Developing Professional
Judgment in Auditing
SE
, Chapter 01
An Introduction to Assurance and Financial Statement Auditing
True / False Questions
1. Independence standards are required for audits of public companies, but not for audits
of private companies.
True False
2. Decision makers demand reliable information that is provided by accountants.
True False
JN
3. Information asymmetry seldom occurs.
True False
4. Conflicts of interest often occur between absentee owners and managers.
U
True False
5. Auditing services and attestation services are the same.
R
True False
6. Auditing is a type of attest service.
SE
True False
7. Testing all transactions that occurred during the period is cost prohibitive.
True False
Multiple Choice Questions
Auditing & Assurance Services: A Systematic Approach: A Systematic Approach
William Messier Jr
10th Edition
JN
U
R
SE
,Table of Contents
Part 1: Introduction to Assurance and Financial Statement Auditing
1. An Introduction to Assurance and Financial Statement Auditing
2. The Financial Statement Auditing Environment
Part 2: Audit Planning and Basic Auditing Concepts
3. Audit Planning, Types of Audit Tests, and Materiality
4. Risk Assessment
5. Evidence and Documentation
JN
Part 3: Understanding and Auditing Internal Control
6. Internal Control in a Financial Statement Audit
U
7. Auditing Internal Control over Financial Reporting
R
Part 4: Statistical and Nonstatistical Sampling Tools for Auditing
8. Audit Sampling: An Overview and Application to Tests of Controls
SE
9. Audit Sampling: An Application to Substantive Tests of Account Balances
Part 5: Auditing Business Processes
10. Auditing the Revenue Process
11. Auditing the Purchasing Process
12. Auditing the Human Resource Management Process
13. Auditing the Inventory Management Process
14. Auditing the Financing/Investing Process: Prepaid Expenses, Intangible Assets, and
Property, Plant, and Equipment
15. Auditing the Financing/Investing Process: Long-Term Liabilities, Stockholders’
, Equity, and Income Statement Accounts
16. Auditing the Financing/Investing Process: Cash and Investments
Part 6: Completing the Audit and Reporting Responsibilities
17. Completing the Audit Engagement
18. Reports on Audited Financial Statements
Part 7: Professional Responsibilities
19. Professional Conduct, Independence, and Quality Management
20. Legal Liability
JN
Part 8: Assurance, Attestation, and Internal Auditing Services
21. Assurance, Attestation, and Internal Auditing Services
U
Advanced Module:
R
• Professional Judgment Framework – Understanding and Developing Professional
Judgment in Auditing
SE
, Chapter 01
An Introduction to Assurance and Financial Statement Auditing
True / False Questions
1. Independence standards are required for audits of public companies, but not for audits
of private companies.
True False
2. Decision makers demand reliable information that is provided by accountants.
True False
JN
3. Information asymmetry seldom occurs.
True False
4. Conflicts of interest often occur between absentee owners and managers.
U
True False
5. Auditing services and attestation services are the same.
R
True False
6. Auditing is a type of attest service.
SE
True False
7. Testing all transactions that occurred during the period is cost prohibitive.
True False
Multiple Choice Questions
