One category of fraud is fraudulent statements. This is usually in the form of falsication of nancial statements in order to obtain some form of improper benet. It also includes
falsifying documents such as employee credentials.
Which one of the following is correct about risk assessment procedures related to fraud by the external auditor?
A. The auditor has no duty to identify fraud in the organisation, hence no inquiries are required.
B. The auditor shall not evaluate any unusual or unexpected relationships that have been identified in performing analytical procedures which may indicate risks of material misstatement due to fraud.
C. The auditor shall make inquiries of management, and others within the entity as appropriate, to determine whether they have knowledge of any actual, suspected or alleged fraud affecting the entity.
D. The auditor shall make inquiries of top management only as appropriate, to determine whether they have knowledge of any actual, suspected or alleged fraud affecting the entity.
正解:C
質問 2:
Assurance providers obtain evidence using procedures set out in ISA 500.
Identify which type of audit procedures is / are correctly paired with each tests carried out by an auditor.
TestsAudit procedures (i)The assurance provider writes to a sample of customers asking them to inform him of the balance they owe theInspection company at the year end (ii)The assurance provider looks at a share certificate to confirm that the company has an investment in Company AObservation (iii)The assurance provider attends the inventory count and ensures that it is being carried out in accordance withConfirmation the issued instructions
A. All are incorrect
B. (i) and (ii) only
C. (ii) and (iii) only
D. All are correct
正解:A
質問 3:
An auditor performs an analytical review by comparing the gross margins of various divisional operations with those of other divisions and with the individual division's performance in previous years. The auditor notes a significant increase in the gross margin at one division. The auditor does the preliminary investigation and notes that there were no changes in products, production methods, or divisional management during the year.
Based on the above information, the most likely cause of the increase in gross margin would be
A. An overstatement of year-end inventory.
B. A decrease in the number of suppliers of the material used in manufacturing the product.
C. An understatement of year-end accounts receivable.
D. An increase in the number of competitors selling similar products.
正解:A
質問 4:
The auditor of Net plc carried out an external confirmation of receivables at the year end to confirm the accuracy of total trade receivables in the balance sheet at that date. Two of the replies to the confirmations disagreed the balance.
For each of these two disagreements, select whether the disagreement would be considered as a misstatement or would not be considered as a misstatement for the purposes of evaluating the accuracy of total trade receivables in the balance sheet at the year end.
(i)Word Ltd disagreed the balance because they had made a payment two days before the year end. The auditor has confirmed that the cheque cleared the bank two days after the year end.
(ii)Red Ltd disagreed the balance because their records did not contain invoice number SI 00942. This invoice and associated goods were despatched by Net plc on the last day of the year. The auditor has verified that the despatch note and cut-off with inventory are correct.
A. Both (i) and (ii) would not be considered as misstatement
B. Both (i) and (ii) would be considered as misstatement
C. (i) would be considered as misstatement and (ii) would not be considered as misstatement
D. (i) would not be considered as misstatement and (ii) would be considered as misstatement
正解:A
質問 5:
Allisons and Co is a firm of Chartered Accountants. It has a reputation for excellence in the banking and insurance industry and has been invited to accept engagements by various institutions. Recently it has been invited by Nationally plc, the leading building society in the UK.
Which of the following usages would be the BEST use of an engagement letter for Allisons and Co?
A. Auditor will obtain sufficient appropriate audit evidence for the audit of Nationally plc.
B. Endorsement of cooperation from other auditors of Nationally plc.
C. Confirmation of management representation letter of Nationally plc.
D. Provides access to all books, accounts and vouchers required for audit purpose of Nationally plc.
正解:D
質問 6:
The management of Tory Bank Ltd suspects that a bank loan officer frequently made loans to fictitious companies, disbursed loan proceed to his wife's accounts, and then the loan has been written-off as irrecoverable. Some significant facts about the loan officer include
A high standard of living, explained as the result of sound investments and not taking vacations
An expensive personal car obtained through business contacts
Gasoline and repair bills submitted for an assigned company car that is higher than company average (mileage logs were submitted on a quarterly basis)
Marked annoyance with questions from auditors
The above fraud would least likely be discovered by
A. Analysis of total dollar volume of loans by loan officer.
B. External or internal audits of loan files.
C. Analyses of the number of loans made by each loan officer.
D. Reconciliation of total loans outstanding to the general ledger balance.
正解:D
堀*弓 -
数ある参考書の中でも特に網羅性が高く、内容が充実していて助かりました。このAA問題集で受かりそうです。