Audit And Assurance
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Audit And Assurance
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25 Questions

1. _________ is the process of breaking down a population into smaller sub population
2. Which is the risk resulting from significant conditions, events, circumstances, actions or inactions?
3. Pick out the right control objective over cash receipts
4. ______________ are difference between the amount actually recorded and what should have been recorded
5. CAAT would normally be used when_________
6. ISA stands for
7. Which among the following is an element of a CPA firm's quality control that should be considered in establishing its quality control policies and procedures?
8. ____________assessment is a fundamental element of the planning process.
9. External audit is focused on _______________, whereas the internal audit is based on ________
10. Computer assisted audit techniques is a growing field within the________
11. The objective of the auditor is to identify and access the risk of ____________.
12. An inventory cycle is the fluctuations of _________ caused by the accusation of selling stock or inventory.
13. To asses look at the ______________ of the industry
14. Segregation of duties involvement should encompare_________.
15. Unclaimed wages are held for______ weeks before being rebanked.
16. Which of the following is not one of the five elements of an assurance engagement?
17. Any issues identified during a test of control are called _________
18. ____________ is the second phase of inventory cycle.
19. Identifying and assessing the risks of material misstatement through______.
20. Select the correct option implying drawbacks of audit committees
21. Key audit matters include
22. What are the two broad categories of CAAT _______
23. the last of preceding steps is useful for improving _____________ environment for auditor.
24. To a retailer or distributer, the inventory cycle is the process of _______, ___________, and ___________
25. There is an ______________ that some material misstatements may not be detected even if properly planned in accordance with ISAs as fraud is likely to be concealed.

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