审计学练习题(26)
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CHAPTER 26 Multiple-Choice Questions
1. easy b The IIA Code of Ethics is based on all but which of the following ethical principles?
a. Integrity.
b. Independence.
c. Competency.
d. Confidentiality.
2. easy c Statements on Internal Auditing Standards are issued by the:
a. AICPA.
b. SEC.
c. Internal Auditing Standards Boards.
d. Auditing Standards Boards.
3. easy c Internal auditors are responsible to:
a. the board of directors.
b. management.
c. both a and b.
d. neither a nor b.
4. easy a Which of the following is not a similarity between external and internal auditors?
a. Both must be independent of the company.
b. Both must be competent.
c. Both use similar methodologies in performing their work.
d. Both consider risk and materiality in their work.
5. easy d External auditors consider internal auditors effective if they are:
a. independent of the operating units being evaluated.
b. competent and well trained.
c. have performed relevant audit tests of the internal controls and financial statements.
d. all of the abov
e.
6. easy d Auditing standards _______ external auditors to use the internal auditors for direct assistance on the audit.
a. discourage
b. prohibit
c. encourage
d. permit
7. easy b The primary source of authoritative literature for doing government audits is the:
a. Purple Book.
b. Yellow Book.
c. Green Book.
d. Red Book.
8. easy d When a state or local government agency receives federal financial assistance, it is subject to the audit requirements of:
a. the Yellow Book.
b. the Single Audit Act.
c. the OMB Circular A-133.
d. All three of the abov
e.
9. easy c Which of the following is not one of the broad categories of operational audits?
a. Functional audits.
b. Organizational audits.
c. Single Audit Act audits.
d. Special assignment audits.
10. easy d Which of the following groups would not be involved in an operational audit?
a. CPA firms.
b. Internal auditors.
c. Government auditors.
d. None of the above answers is correct; that is, all of the above would be involved.
11. easy b The IIA’s professional practice framework (including its code of ethics and International Standards for the Professional Practice of Internal Auditing) is commonly referred to as the:
a. Blue Book.
b. Red Book.
c. Green Book.
d. Yellow Book.
12. easy b The professional organization which is responsible for providing guidance for internal auditors is the:
a. APA.
b. IIA.
c. ABA.
d. AIA.
13. easy d The financial auditing standards of the Yellow Book are ______ the 10 GAAS of the AICPA.
a. the same as
b. quite different from
c. incompatible with
d. consistent with
14. easy b Which of the following is not one of the three phases in an operational audit?
a. Planning.
b. Training and supervising employees.
c. Evidence accumulation and evaluation.
d. Reporting and follow-up.
15. medium a The correct title of the Yellow Book is:
a. Government Auditing Standards.
b. IIA Practice Standards.
c. Statement of Responsibilities of Internal Auditing.
d. Statement of Standards on Accounting and Review Services.
16. medium b The Yellow Book recognizes that, because of the sensitivity of government activities and their public accountability, in government audits the thresholds of acceptable audit risk and tolerable misstatement compared to an audit of a commercial enterprise may be:
a. equal.
b. lower.
c. higher.
d. indeterminabl
e.