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By:
Nick Holloway
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Decks in this class (43)
10 GAAS Standards and 7 Principle
List the 10 gaas standards requir...,
List 7 principles 4,
Define purpose premise
10
cards
Professional Standards
Define interpretive publications ...,
Give 4 examples of auditing publi...,
List and define the 2 categories ...
4
cards
Quality Control Standards
Objective,
Define engagement quality control...,
Name the 6 elements of sqcs hermal
10
cards
SSARS - preparation of FS
Ssars is applicable to,
Types of enagements and reports i...,
2 types of professional requirements
10
cards
Terms of Engagement
Objective,
Define preconditions for an audit,
Auditors responsibility regarding...
8
cards
Planning an Audit
Purpose,
List the 3 preliminary engagement...,
What does the overall strategy do...
6
cards
Understanding the Entity and Its Environment and Assessing the RoMM
Define risk assessment procedures,
Define relevant assertions,
List the 3 risk assessment proced...
7
cards
Consideration of Fraud
Two types of fraud
1
cards
Unmodified Opinion
Structure of report,
Intro sentence,
Management responsibilties paragraph
7
cards
Comparative Financial Statements w/ report
What type of paragraph is added t...,
What does the other matters parag...,
What should the predecessor do if...
6
cards
Group FS reports
Steps taken if group auditor deci...,
Steps taken if group auditor deci...,
In what situation would the group...
5
cards
Emphasis of Matter paragraph And Other Matters paragraph
3 scenarios when eom paragraph re...,
4 scenarios when eom paragraph is...,
4 presentation requirements for e...
9
cards
Modified Opinion
List the 4 types of modification,
Qualifications for qualified and ...,
Circumstances for qualified opini...
10
cards
Other Info, Supp Info, and Required Supp info
Examples of other info,
Other info if material inconsiste...,
Reasons for choosing to disclaim ...
10
cards
Alert to Restrict Report
Required when,
Purpose,
Reporting
3
cards
Summary Financials Report
Requirements to report on summary...,
Reporting structure,
Main objective
3
cards
SSARS - General Principles
What 3 areas does ssars cover,
What are the 3 issues preconditio...,
Which standards address that unau...
3
cards
SSARS - Reviews
Independence required,
Items obtained and issued,
Types of procedures performed
14
cards
SSARS - Compilation
The engagement letter should cont...,
Compilation includes,
Withdrawal cirumstances
5
cards
Other Ethics Codes
Audit firms are not allowed to pr...,
Exception to tax services,
Requirement to perform tax services
25
cards
SSAEs - General
Attest engagement,
3 types of attestation engagements,
List the 11 attestation standards
9
cards
SSAEs - Financial Forecasts and Projections
Define forcasts and projection,
Examination reporting structure,
Examinations can only be availabl...
12
cards
SSAEs - Pro Forma Financial Information
Define pro forma,
Requirements to report on pro for...,
Two types of reports
6
cards
SSAEs - Compliance Attestation
Definition and applicability,
Examination reporting structure,
Aup objective
4
cards
SSAEs - Integrated Audit (non issuer)
The auditors basic responsibilities,
Top down approach,
Indicators of material weaknesses
5
cards
SSAEs - MD&A
Preconditions,
Examination purpose,
Required elements
9
cards
Compliance Audits
Objective,
Applicable for,
Risk assessment procedures
5
cards
Governmental Auditing Standards
Description,
Additional reporting requirements...
2
cards
Comfort Letters
Objective letters for underwriter...,
Purpose,
Reporting structure
3
cards
Reports on Application of Requirements of Framework
Objective,
Acceptance considerations,
Reporting structure
4
cards
F/S Woth Special Purpose Framework
Types,
Preconditions,
Forming an opinion and reporting ...
12
cards
Single FS Audit (special element, account, items)
If the specific element is based ...,
If the specific element is based ...,
If the auditor is engaged to audi...
3
cards
SSAEs - Service Organzations
Type i report,
Type ii report a report on contro...,
User auditors objectives
10
cards
PCAOB & Public Company Audit Standards
Standard 1,
Must document all significant fin...,
Document retention
3
cards
PCAOB & Auditing Standards - #5 ICFR integrated Audit
Definitions review,
Audit timing,
Materiality
23
cards
PCAOB - Auditing standards: Evaluating Consistency of FS
Two types of issues,
Change in accounting principle 4 ...,
Change in accounting principle 4 ...
7
cards
PCAOB: Auditing Standards - Engagement Quality Review
Applicability,
Objective,
Qualifications of an engagement r...
9
cards
PCAOB: Auditing Standards - Audit Risk, Audit Planning, ect.
Standards covered in this section,
Structural differences,
Pcaob auditing standard no 8 audi...
12
cards
PCAOB: Auditing Standards - Communications with Audit Committees
Objective,
Communicating the audit strategy,
Results of the audit
15
cards
PCAOB: Auditing Standards - Auditing Supplemental Information Accompanying Audited FS
Objective,
Supplemental information refers t...,
Overview of the performance and r...
6
cards
PCAOB: Auditing Standards - Related Parties
Objective,
Risk assessment,
Response to risk assessment
9
cards
Questions For Review
Which of the following statements...
1
cards
Assertions
3 categories,
Account balance assertions,
Presentation and disclosure
5
cards
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AUD - NH
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