1
Q
Who are covered persons?
A
1 Audit engagement team
2 Chain of command
3 Firm
2
Q
Who cannot have direct investments in an audit client according to the SEC?
A
1 Firms
2 Covered persons
3 Immediate family members
3
Q
A credit card owned by a lender is impairs independence when…
A
When the credit card balance is more than $10,000
4
Q
Which non-audit services impair independence to audit clients according to the SEC?
A
Bookkeeping, Design financial information systems, Appraisals, Actuarial services, Internal audit, Management functions, HR duties, Investment banking, Legal services and Expert services
My AUD study cards
flashcards
Decks in class (58)
# Cards
-
Code of Professional Conduct18
-
Title Choices8
-
MIPPs Into and Framework10
-
Conflitcs of Int, Directorship and Gifts6
-
Reporting Income and Subordination of Judgement1
-
Advocacy, TSPs, Gen Standards and Acct Principles11
-
Discreditable Acts10
-
Fees6
-
Advertising and Confidentiality6
-
Form of Organization and Names5
-
Introduction to MIPPs Independence Rules8
-
Reissues, Engagement Letters, ADR and Unpaid Fees7
-
Overview and Unsolicited Financial Interest9
-
Mutual Funds and Retirement Plans4
-
Partnership, 529, Trust and Estate, Employee Benefits Plan8
-
Depository account, Brokerage account and Insurance policies2
-
Laons, leases and business relationships3
-
Family Relationships3
-
Current Employment4
-
Subsequent Employment3
-
Other Association and Relationships3
-
Nonaudit services - Code provisions4
-
Members in Business2
-
SEC4
-
Public Company Accounting Oversight Board (PCAOB)1
-
Governmental Accounting Office (GAO)14
-
Department of Labor (DOL)4
-
Accounting vs Auditing10
-
GAAS and Principles11
-
Professional Standards4
-
Quality Control Standards (SQCS)16
-
Overview of Audit Process9
-
Different Types of Engagements8
-
PCAOB Responsibilities11
-
PCAOB on Engagement Quality Review10
-
Pre-Engagement Planning Issues11
-
Planning and Supervision7
-
Materiality8
-
Audit Risk19
-
Analytical Procedures9
-
Detecting Fraud23
-
Fraud: Evaluation and Communication2
-
Detecting Illegal Acts3
-
Using the Work of a "Specialist"6
-
Required Communications with Those Charged with Governance3
-
PCAOB on Communications with Audit Committees6
-
Internal Control Concepts 111
-
Internal Control Concepts 213
-
Internal Control Standards 114
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Internal Control—Required Communications9
-
Using the Work of an Internal Audit Function9
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Specific Transaction Cycles8
-
Revenue/Receipts—Sales2
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Revenue/Receipts—Cash2
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Expenditures/Disbursements6
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Payroll Cycle1
-
Miscellaneous Cycles1
-
Study topics38
