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Mandy Henderson
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Decks in this class (33)
Chap 7 Audit Evidence
In characteristics of evidence wh...,
In characteristics of evidence wh...,
In characteristics of evidence wh...
14
cards
Chapter 7 Audit Evidence Decisions
Audit _____ is the detailed instr...,
______ procedure is the detailed ...,
An audit program always includes ...
29
cards
Chap 7 Persuasiveness of evidence
T fif an auditor counts inventory...,
The characteristic of reliability...,
If evidence is considered reliabl...
51
cards
Chapt 7 Types of Audit Evidence
Why is documentation widely used ...,
Why is observation rarely suffice...,
What is the broad category of evi...
86
cards
Chap 5 Changed legal environment
What are the factors that contrib...,
T funder common law auditors must...,
The auditor generally owes a duty...
8
cards
chap 5 distinguishing buisness failure, audit failure, and audit risk
What is a business failure,
Many accounting and legal profesi...,
What is the expectation gap
20
cards
chap 5 legal concepts affecting liability
T funder common law cpas have the...,
Occurs when a misstatement is mad...,
Laws that have been developed thr...
40
cards
chap 5 liability to clients
What does the defense contributor...,
What two ideas assist in a nonneg...,
In audits it is often conclusive ...
17
cards
chapt 5 liabiltiy to third parties under common law
Ultramares doctorine broadened in...,
Class of users that the auditor k...,
What are foreseeable users
15
cards
Chap 5 civil liability under the federal securities laws
The securities act of 1933 deals ...,
Sarbanes oxley act of 2002 increa...,
T fthe pcaob has the authority to...
18
cards
chap 5 criminal liability
Accounting principles cnat be rel...,
For accountants federal laws make...,
The sarbanes oxley act of 2002 ma...
5
cards
chap 5 the professions response to legial liability
What are some specific activies t...,
Private securities litigation ref...,
It is also important for cpas to ...
5
cards
chap 6 objective of conducting an audit of financial statements
The issuance of an opinion on int...,
What are the 5 steps to developin...,
An auditors opinion enhances what
7
cards
chap6 managements responsibilities
The sarbanes oxley act requires t...,
What are 3 primary responsiblitie...,
The annual report of many public ...
7
cards
chap 6 auditors responsibilities
In obtaining reasonable assurance...,
Auditing standards indicate reaso...,
The auditors responsibilities reg...
28
cards
Chap 6 Professional Skepticism
What is a questioning mindset,
Self confidence to resist persuas...,
What is interpersonal understanding
14
cards
chap 6 professional judgement
The process of documenting helps ...,
The starting point to an effectiv...,
Once the issue is defined the aud...
26
cards
chap 6 financial statement cycles
Which cycle is the primary focus ...,
Transactions in the acquistion an...,
What is the only cycle that doesn...
28
cards
chap 6 setting audit objectives
Audit objectives for each class o...,
Auditors conduct fs audits using ...,
Audit objectives that relate to t...
10
cards
chap 6 management assertions
The pcaob standards note that man...,
The completeness assertion for pr...,
What are the aicpa assertions abo...
31
cards
chap 6 transaction related audit objectives
What is the general transaction r...,
What is the general transaction r...,
After the general transaction rel...
15
cards
chap 6 balance related and presentation and disclosure related audit objectives
Balance related audit objectives ...,
What does the general balance rel...,
When using blance related audit o...
21
cards
chap 6 how audit objectives are met
What are the 2 categories of phas...,
The auditor performs prcedcures t...,
In order to decide on the appropr...
26
cards
chap 7 analytical procedures
Analytical procedures done in the...,
Who conducts the analytical proce...,
What is one approach to overcome ...
25
cards
chap 7 common financial ratios
What are the 2 ratios creditors a...,
A company ability to generate cas...,
General financial analysis using ...
14
cards
chap 7 audit documentation
Auditing standards state that aud...,
Audit documenation should include...,
The overall objective of audit do...
28
cards
chap 8 planning
What is one of the most important...,
Much of the early planning of aud...,
What are the 3 risks that signifc...
18
cards
chap 8 accept client and perform initial audit planning
What are a couple of reasons cpa ...,
After understanding the client s ...,
The audit strategy considers what
21
cards
chap 8 understand the clients business and industry
What is a related party transaction,
What do corporate minutes include,
What factors hasve increased the ...
30
cards
chap 8 perform preliminary analytical procedures
In identifying areas of specific ...,
What is 2 preliminary analytical ...,
Auditors are required to perform ...
4
cards
chap 8 materiality and materiality for FS as a whole
T fmateriality is not a major con...,
What is often the primary benchma...,
What are the 3 most important fac...
23
cards
chap 8 determine performance materiality
The purpose of allocating the pre...,
Pcaob standards refer to performa...,
Most audit procedures focus on b ...
12
cards
chap 8 estimate mistatement and compare with preliminary judgement
Auditors document all misstatemen...,
What are two types of likely miss...,
Known misstatements are those tha...
4
cards
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Audit Part 2
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