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Chapter 23: Assurance Services: Attest...
Post-Test

1 .       Which of the following statements is true regarding the performance by a CA of an assurance service on the reliability of information systems? 



2 .       Which of the following statements is not true concerning assurance services? 



3 .       The public has turned to CAs to provide assurance services primarily because 



4 .       When a CA is associated with the preparation of forecasts, all of the following should be disclosed except the 



5 .       Given one or more hypothetical assumptions, a responsible party may prepare, to the best of its knowledge and belief, an entity's expected financial position, results of operations, and changes in cash flows. Such prospective financial statements are known as 



6 .       Which of the following are prospective financial statements upon which an accountant may appropriately report for general use? 



7 .       An accountant's standard report on a compilation of a projection should not include 



8 .       An accountant may accept an engagement to apply agreed-upon procedures to prospective financial statements provided that 



9 .       Accepting an engagement to compile a financial projection for a publicly held company is most likely to be inappropriate if the projection were to be distributed to 



10 .       Which of the following best describes a CA's engagement to report on an entity's internal control over financial reporting? 



11 .       Which of the following conditions is necessary for a practitioner to accept an attest engagement to examine and report on an entity's internal control over financial reporting? 



12 .       An accountant's compilation report should be dated as of the date of 



13 .       Each page of the financial statements compiled by an accountant should include a reference such as  



14 .       Before performing a compilation of the financial statements of a nonpublic entity, an accountant should 



15 .       Which of the following procedures is not included in a review engagement of a nonpublic entity? 



16 .       The two general types of prospective financial statements are forecasts and projections. [Hint]

 
 


17 .       Forecasts are prospective financial statements that present an entity’s financial position, results of operations, and cash flows, to the best of the responsible party’s knowledge and belief, given one or more hypothetical assumptions. [Hint]

 
 


18 .       In an agreed-upon procedures engagement for which there are no proposed adjustments, the auditor is required to state that "...no matters came to our attention that caused us to believe that the (specified elements, accounts, or items) should be adjusted." [Hint]

 
 


19 .       In an agreed-upon procedures engagement for which there are no proposed adjustments, the auditor is required to state that "...no matters came to our attention that caused us to believe that the (specified elements, accounts, or items) should be adjusted." [Hint]

 
 


20 .       The three basic types of engagements for attestation engagements are examinations, reviews, and compilations. [Hint]

 
 


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