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1

The form of attestation that provides the highest form of assurance is a(n):
A)Assembly.
B)Compilation.
C)Review.
D)Examination.
2

Audits of financial statements include an expression of a conclusion about which of the following financial statement characteristics?
A)Governance.
B)Reliability.
C)Relevance.
D)Timeliness.
3

A review of a company's financial statements by a CPA firm:
A)Is significantly less in scope than an audit and results in a report which provides positive assurance, although not absolute assurance.
B)Is similar in scope to an audit and adds similar credibility to the statements.
C)Concludes with the issuance of a report expressing the CPA's opinion as to the fairness of the statements.
D)Is designed to provide only limited, or moderate assurance.
4

The Sarbanes Oxley Act included provisions establishing the:
A)Auditing Standards Board.
B)Congressional Auditing Overview Board.
C)Public Company Accounting Oversight Board.
D)Securities and Exchange Commission.
5

In performing a financial statement audit, which of the following would an auditor be least likely to consider?
A)Internal control.
B)Compliance with GAAP.
C)Fairness of the financial statement amounts.
D)Quality of managements' business decisions.
6

Which of the following is not considered a type of audit?
A)Operational audit.
B)Sufficiency audit.
C)Compliance audit.
D)Financial statement audit.
7

Internal auditors are most likely to issue a report on which of the following?
A)Annual financial statement reporting.
B)Internal control.
C)Tax compliance.
D)Quarterly financial statement reporting.
8

With which of the following is the AICPA least concerned?
A)Professional standards for CPAs.
B)Research and development of accounting standards.
C)Standards guiding the conduct of internal auditors.
D)Self regulation of the accounting profession.
9

If an auditor had a substantial stock investment in a client that s(he) was auditing, which of the following would be true?
A)The auditor would lack independence.
B)The auditor would be violating the FASB standards.
C)The auditor would be violating the Institute of Management Accounting standards.
D)The auditor would be violating the IIA standards.
10

The attest function:
A)Is an essential part of every engagement performed by a CPA.
B)Requires a complete review of all transactions during the period under examination.
C)Requires a review of a sample of transactions during the period under examination.
D)Includes the preparation of a written report of the CPA's findings.





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